Attached files
| file | filename |
|---|---|
| 8-K - 8-K - HERCULES OFFSHORE, INC. | apr13fsr8k.htm |
Hercules Offshore
Monthly Rig Fleet Status Report
as of
April 24, 2013
Exhibit 99.1
Contract (2) Dayrate ($000s) | Est. Duration (3) | |||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Days | Date | Comments | ||||||||||
Domestic Offshore | ||||||||||||||||
1 | Hercules 120 | 120’ - MC, TD | GOM | Chevron | 64-66 | 251 | 12/31/13 | |||||||||
2 | Hercules 150 | 150’ - ILC, TD | GOM | Chevron | 74-76 | 11 | 05/05/13 | |||||||||
Shipyard | 05/19/13 | Estimated downtime for repair and maintenance work | ||||||||||||||
Arena | 76-78 | 60 | 07/18/13 | |||||||||||||
Northstar | 89-91 | 100 | 10/26/13 | |||||||||||||
3 | Hercules 173 | 173’ - MC, TD | GOM | Chevron | 64-66 | 13 | 05/07/13 | |||||||||
Shipyard | 05/21/13 | Estimated downtime for repair and maintenance work | ||||||||||||||
Chevron | 64-66 | 224 | 12/31/13 | |||||||||||||
4 | Hercules 200 | 200’ - MC, TD | GOM | Apache | 79-81 | 49 | 06/12/13 | |||||||||
Shipyard | 07/27/13 | Estimated downtime for repair and maintenance work | ||||||||||||||
Gulf Coast Energy Resources | 94-96 | 20 | 08/16/13 | |||||||||||||
5 | Hercules 201 | 200’ - MC, TD | GOM | EPL | 81-83 | 8 | 05/02/13 | |||||||||
Shipyard | 05/23/13 | Estimated downtime for repair and maintenance work | ||||||||||||||
EPL | 101-103 | 90 | 08/21/13 | |||||||||||||
6 | Hercules 202 | 200’ - MC, TD | GOM | W&T Offshore | 66-68 | 12 | 05/06/13 | |||||||||
71-73 | 96 | 08/10/13 | ||||||||||||||
84-86 | 60 | 10/09/13 | ||||||||||||||
7 | Hercules 204 | 200’ - MC, TD | GOM | Chevron | 81-83 | 251 | 12/31/13 | Contract rate based on prior commitment made in October 2012 | ||||||||
8 | Hercules 205 | 200’ - MC, TD | GOM | Black Elk | 84-86 | 178 | 10/19/13 | |||||||||
Shipyard | 01/17/14 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||
9 | Hercules 209 | 200' - MC, TD | GOM | Shipyard | 04/30/13 | Rig reactivation | ||||||||||
Razor/Emerald | 86-88 | 35 | 06/04/13 | |||||||||||||
Hall-Houston | 94-96 | 30 | 07/04/13 | |||||||||||||
Sandridge | 101-103 | 75 | 09/17/13 | |||||||||||||
10 | Hercules 212 | 200’ - MC, TD | GOM | W&T Offshore | 84-86 | 29 | 05/23/13 | |||||||||
Renaissance | 86-88 | 45 | 07/07/13 | |||||||||||||
11 | Hercules 213 | 200’ - MC, TD | GOM | EPL | 81-83 | 28 | 05/22/13 | |||||||||
101-103 | 90 | 08/20/13 | ||||||||||||||
12 | Hercules 214 | 200’ - MC, TD | GOM | Apache | 79-81 | 83 | 07/16/13 | |||||||||
101-103 | 180 | 01/12/14 | ||||||||||||||
13 | Hercules 251 | 250’ - MS, TD | GOM | Hall-Houston | 79-81 | 9 | 05/03/13 | |||||||||
74-76 | 64 | 07/06/13 | ||||||||||||||
57-59 | 32 | 08/07/13 | Prior contract reassignment | |||||||||||||
74-76 | 36 | 09/12/13 | ABS 5-year special survey scheduled for the fourth quarter 2013; estimated downtime of 90 days | |||||||||||||
14 | Hercules 253 | 250’ - MS, TD | GOM | Tana | 74-76 | 117 | 08/19/13 | |||||||||
96-98 | 65 | 10/23/13 | ||||||||||||||
15 | Hercules 263 | 250’ - MC, TD | GOM | Tana | 86-88 | 59 | 06/22/13 | |||||||||
89-91 | 120 | 10/20/13 | ||||||||||||||
97-99 | 65 | 12/24/13 | ||||||||||||||
16 | Hercules 264 | 250’ - MC, TD | GOM | Energy XXI | 89-91 | 21 | 05/15/13 | |||||||||
Castex | 86-88 | 210 | 12/11/13 | |||||||||||||
Shipyard | 03/11/14 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||
Castex | 116-118 | 90 | 06/09/14 | |||||||||||||
119-121 | 90 | 09/07/14 | ||||||||||||||
Page 1 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
April 24, 2013
Contract (2) Dayrate ($000s) | Est. Duration (3) | |||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Days | Date | Comments | ||||||||||||
17 | Hercules 265 | 250’ - MC, TD | GOM | EPL | 89-91 | 32 | 05/26/13 | |||||||||||
Walter Oil & Gas | 101-103 | 60 | 07/25/13 | |||||||||||||||
Arena | 102-104 | 90 | 10/23/13 | |||||||||||||||
18 | Hercules 300 | 300' - MC, TD | GOM | Arena | 96-98 | 67 | 06/30/13 | Weather delay since March 21 resulting in approximately 20 days at reduced standby rate and at least 18 days at zero rate | ||||||||||
Shipyard | 09/28/13 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||||
Arena | 96-98 | 238 | 05/24/14 | |||||||||||||||
99-101 | 180 | 11/20/14 | ||||||||||||||||
19 | Hercules 350 | 350' - ILC, TD | GOM | Cimarex | 109-111 | 85 | 07/18/13 | |||||||||||
Renaissance | 134-136 | 180 | 01/14/14 | |||||||||||||||
Arena | 136-138 | 90 | 04/14/14 | |||||||||||||||
Average | 211 | days | ||||||||||||||||
20 | Hercules 85 | 85’ - ILS, TD | GOM | Cold Stacked 01/09 | |||||||||||||
21 | Hercules 153 | 150’ - MC, TD | GOM | Cold Stacked 01/09 | |||||||||||||
22 | Hercules 203 | 200’ - MC, TD | GOM | Cold Stacked 06/09 | |||||||||||||
23 | Hercules 206 | 200’ - MC, TD | GOM | Cold Stacked 12/09 | |||||||||||||
24 | Hercules 207 | 200’ - MC, TD | GOM | Cold Stacked 01/09 | |||||||||||||
25 | Hercules 211 | 200’ - MC Workover | GOM | Cold Stacked 01/09 | |||||||||||||
26 | Hercules 250 | 250’ - MS, TD | GOM | Cold Stacked 12/09 | |||||||||||||
27 | Hercules 2002 | 200’ - MC, TD | GOM | Cold Stacked 10/08 | |||||||||||||
28 | Hercules 2003 | 200’ - MC, TD | GOM | Cold Stacked 02/09 | |||||||||||||
29 | Hercules 2500 | 250’ - MS, TD | GOM | Cold Stacked 02/09 | |||||||||||||
Page 2 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
April 24, 2013
Contract (2) Dayrate ($000s) | Est. Duration (3) | |||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Days | Date | Comments | ||||||||||||
International Offshore | ||||||||||||||||||
1 | Hercules 170 | 170’ - ILC, TD | Bahrain | Warm Stacked | ||||||||||||||
2 | Hercules 208 | 200' - MC, TD | Myanmar | PTTEP | 95-97 | 57 | 06/20/13 | 45 day priced option at $95 - $97K dayrate | ||||||||||
Shipyard | 09/18/13 | Scheduled downtime for ABS 5-year special survey/repairs | ||||||||||||||||
3 | Hercules 260 | 250’ - ILC, TD | Cameroon | Enroute | 82-84 | 8 | 05/02/13 | |||||||||||
Democratic Republic of Congo | Perenco | 89-91 | 23 | 05/25/13 | ||||||||||||||
106-108 | 334 | 04/24/14 | ||||||||||||||||
Gabon | 114-116 | 31 | 05/25/14 | |||||||||||||||
4 | Hercules 261 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 83-85 | 523 | 09/29/14 | |||||||||||
5 | Hercules 262 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 79-81 | 563 | 11/08/14 | |||||||||||
6 | Hercules 266 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 116-118 | 950 | 11/30/15 | Contract commenced April 8, 2013. Revised dayrate to reflect late delivery penalty. Contract expiration between 9/30/15 and three years post commencement of contract at discretion of customer. | ||||||||||
7 | Hercules 267 (formerly Ben Avon) | 250' - ILC, TD | Gabon | Shipyard | 05/31/13 | Contract preparation work; LOA signed wtih Cabinda Gulf Oil Company LTD, (CABGOC), a wholly-owned subsidiary of Chevron, in Angola for three years at a dayrate of $108k-$110k expected to commence in June 2013. | ||||||||||||
Average | 356 | days | ||||||||||||||||
8 | Hercules 156 | 150’ - ILC, TD | Bahrain | Cold Stacked 12/10 | ||||||||||||||
9 | Hercules 258 | 250’ - MS, TD | Malaysia | Cold Stacked 10/12 | ||||||||||||||
Page 3 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
April 24, 2013
Contract (2) Dayrate ($000s) | Est. Duration (3) | ||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Days | Date | Comments | |||||||||||
US Inland Barges | |||||||||||||||||
1 | Hercules 17 | Posted - 3000 hp, TD | US Inland Gulf Coast | Century | 29-31 | - | 04/24/13 | ||||||||||
EPL | 29-31 | 90 | 07/23/13 | ||||||||||||||
2 | Hercules 41 | Posted - 3000 hp, TD | US Inland Gulf Coast | Castex | 26-28 | 26 | 05/20/13 | ||||||||||
3 | Hercules 49 | Posted - 3000 hp, TD | US Inland Gulf Coast | Century | 29-31 | 11 | 05/05/13 | ||||||||||
Average | 42 | days | |||||||||||||||
4 | Hercules 01 | Conv - 2000 hp | US Inland Gulf Coast | Cold Stacked 10/08 | |||||||||||||
5 | Hercules 11 | Conv - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 02/09 | |||||||||||||
6 | Hercules 19 | Conv - 1000 hp | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
7 | Hercules 27 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
8 | Hercules 46 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
9 | Hercules 48 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | |||||||||||||
10 | Hercules 52 | Posted - 2000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
11 | Hercules 55 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | |||||||||||||
12 | Hercules 57 | Posted - 2000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
13 | Hercules 64 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | |||||||||||||
(1) | Rigs with a Customer named are under contract, while rigs described as “Ready Stacked” are not under contract, but generally are ready for service. Rigs described as “Warm Stacked” are actively marketed and may have a reduced number of crew, but require a full crew to be ready for service. Rigs described as “Cold Stacked” are not actively marketed, normally require the hiring of an entire crew and require a maintenance review and refurbishment before they can function as a drilling rig. Rigs described as “Shipyard” are undergoing maintenance, repairs, upgrades and may or may not be actively marketed depending on the length of stay in the shipyard. |
(2) | Contract dayrates shown in the table above are full contract operating dayrates, which may include estimated contractual adjustments for changes in operating costs and reimbursable cost items for operating expenses such as crew and may also include additional services and personnel that may be requested by the customer from time-to-time. However, the dayrates do not include certain non-recurring revenues such as lump sum mobilizations and demobilizations. The actual dayrate over the term of the contract could be lower and could be substantially lower and/or subject to numerous risks as disclosed in the Company’s filings with the Securities and Exchange Commission. Lower dayrates typically apply when the rig is under contract but not fully operating, including periods when the rig is moving, waiting on weather, on standby, down for repairs or maintenance or during other operational delays or events of force majeure. |
(3) | Estimated contract duration is an estimate based on current belief by our customers as to the remaining days to complete the project, subject to the satisfaction of regulatory or permitting requirements that are in effect, including those that may impact the ability of our customers to timely obtain drilling permits. |
Page 4 of 5
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
March 31, 2013
Leg Length/ Liftboat Class (Feet) | Total Number of Liftboats | Actively Marketed Liftboats (1) | Revenue Per Day Per Liftboat (2) | Operating Days | Utilization (3) | Comments | ||||||||||||
Gulf of Mexico | ||||||||||||||||||
230 | 1 | 1 | $ | — | 0 | 0 | % | One vessel in drydock in March and April | ||||||||||
170-215 | 4 | 4 | 17,327 | 93 | 75 | % | One vessel in drydock in March and April | |||||||||||
140-150 | 5 | 5 | 10,765 | 86 | 55 | % | Two vessels in drydock in March and one vessel in drydock in April | |||||||||||
120-130 | 14 | 12 | 7,039 | 287 | 77 | % | One vessel in drydock in March and three vessels in drydock in April | |||||||||||
105 | 15 | 7 | 6,204 | 126 | 58 | % | Two vessels in drydock in March and one vessel in drydock in April | |||||||||||
Sub-total/Average | 39 | 29 | $ | 9,019 | 592 | 66 | % | |||||||||||
International | ||||||||||||||||||
230-280 | 4 | 4 | $ | 45,800 | 80 | 65 | % | |||||||||||
170-215 | 6 | 6 | 39,343 | 175 | 94 | % | Two vessels in drydock in April | |||||||||||
140-150 | 4 | 4 | 16,299 | 102 | 82 | % | ||||||||||||
120-130 | 7 | 7 | 12,503 | 216 | 100 | % | ||||||||||||
105 | 4 | 2 | 16,774 | 18 | 29 | % | ||||||||||||
Sub-total/Average | 25 | 23 | $ | 25,743 | 591 | 83 | % | |||||||||||
Total/Average | 64 | 52 | $ | 17,374 | 1,183 | 73 | % | |||||||||||
(1) | Actively marketed liftboats excludes ten GOM cold-stacked liftboats and two Nigeria cold-stacked liftboats. |
(2) | Includes reimbursables. |
(3) | Utilization is defined as the total number of operating days in the period as a percentage of the total number of calendar days in the period our liftboats were actively marketed. |
The information and statements made in the Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning estimated contract expiration dates, dayrates, estimated dates for completion of repairs and upgrades and commencement dates of new contracts, as well as information that may be affected by delays in obtaining drilling permits in the Gulf of Mexico. Such statements are subject to a number of risks, uncertainties and assumptions, including without limitation, early termination by the customer pursuant to the contract or otherwise, cancellation or completion of certain contracts earlier than expected, our ability to renew or extend contracts, or enter into new contracts, when such contracts expire, the potential inability of our customers to obtain drilling permits that would cover the entire duration of our contracts in the U.S. Gulf of Mexico or otherwise satisfy regulatory requirements that may be then in effect, operational difficulties, shipyard and other delays, government and regulatory actions and other factors described in the Company’s annual report on Form 10-K and its most recent periodic reports and other documents filed with the Securities and Exchange Commission, which are available free of charge at the SEC’s website at www.sec.gov or the company’s website at www.herculesoffshore.com. The Company cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.
Page 5 of 5