EX-99.1 2 mar13fsrex991.htm HERCULES OFFSHORE FLEET STATUS Mar13FSRex991
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 21, 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
 
285
 
12/31/13
 
 
2
 
Hercules 150
 
150’ - ILC, TD
 
GOM
 
Chevron
 
74-76
 
38
 
04/28/13
 
 
 
Arena
 
76-78
 
60
 
06/27/13
 
 
 
 
 
 
Northstar
 
89-91
 
100
 
10/05/13
 
 
3
 
Hercules 173
 
173’ - MC, TD
 
GOM
 
Chevron
 
64-66
 
285
 
12/31/13
 
 
4
 
Hercules 200
 
200’ - MC, TD
 
GOM
 
Apache
 
79-81
 
81
 
06/10/13
 
Contract commenced March 12, 2013
Shipyard
 
 
 
 
 
07/25/13
 
 
Gulf Coast Energy Resources
 
94-96
 
20
 
08/14/13
 
 
5
 
Hercules 201
 
200’ - MC, TD
 
GOM
 
EPL
 
81-83
 
9
 
03/30/13
 
 
 
 
 
 
Shipyard
 
 
 
 
 
04/20/13
 
 
 
 
 
 
EPL
 
81-83
 
20
 
05/10/13
 
 
 
 
 
 
 
101-103
 
90
 
08/08/13
 
 
6
 
Hercules 202
 
200’ - MC, TD
 
GOM
 
W&T Offshore
 
66-68
 
7
 
03/28/13
 
 
 
71-73
 
96
 
07/02/13
 
 
 
84-86
 
60
 
08/31/13
 
 
7
 
Hercules 204
 
200’ - MC, TD
 
GOM
 
Castex
 
81-83
 
14
 
04/04/13
 
Contract commenced March 6, 2013
 
Chevron
 
81-83
 
285
 
12/31/13
 
Contract rate based on prior commitment made in October 2012
8
 
Hercules 205
 
200’ - MC, TD
 
GOM
 
Black Elk
 
81-83
 
28
 
04/18/13
 
 
 
84-86
 
43
 
05/31/13
 
 
 
 
 
 
Shipyard
 
 
 
 
 
08/29/13
 
ABS 5-year special survey; estimated downtime of 90 days
 
 
 
 
Black Elk
 
84-86
 
137
 
01/13/14
 
 
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
 
63
 
05/23/13
 
 
 
Renaissance
 
86-88
 
45
 
07/07/13
 
 
11
 
Hercules 213
 
200’ - MC, TD
 
GOM
 
EPL
 
81-83
 
55
 
05/15/13
 
 
 
 
 
 
 
101-103
 
90
 
08/13/13
 
 
12
 
Hercules 214
 
200’ - MC, TD
 
GOM
 
Apache
 
79-81
 
117
 
07/16/13
 
 
 
101-103
 
180
 
01/12/14
 
 
13
 
Hercules 251
 
250’ - MS, TD
 
GOM
 
Hall-Houston
 
79-81
 
40
 
04/30/13
 
Contract commenced March 16, 2013
 
Hall-Houston
 
74-76
 
64
 
07/03/13
 
 
 
Hall-Houston
 
57-59
 
32
 
08/04/13
 
Prior contract reassignment
 
Hall-Houston
 
74-76
 
36
 
09/09/13
 
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
 
134
 
08/02/13
 
 
 
 
96-98
 
65
 
10/06/13
 
 
15
 
Hercules 263
 
250’ - MC, TD
 
GOM
 
Arena
 
62-64
 
-
 
03/21/13
 

 
Tana
 
86-88
 
85
 
06/14/13
 
 
 
Tana
 
89-91
 
120
 
10/12/13
 
 
 
Tana
 
97-99
 
65
 
12/16/13
 
 
16
 
Hercules 264
 
250’ - MC, TD
 
GOM
 
Energy XXI
 
89-91
 
11
 
04/01/13
 
 
 
Castex
 
86-88
 
210
 
10/28/13
 
ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days

Page 1 of 5






Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 21, 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
 
55

 
05/15/13
 
 
 
Walter Oil & Gas
 
101-103
 
60

 
07/14/13
 
 
 
 
 
 
Arena
 
102-104
 
90

 
10/12/13
 
 
18

 
Hercules 300
 
300' - MC, TD
 
GOM
 
Arena
 
96-98
 
101

 
06/30/13
 
Contract commenced February 24, 2013
Shipyard
 
 
09/28/13
ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days
Arena
96-98
239

05/25/14
 
99-101
180

11/21/14
 
19

 
Hercules 350
 
350' - ILC, TD
 
GOM
 
Cimarex
 
109-111
 
119

 
07/18/13
 
 
Renaissance
 
134-136
180

01/14/14
 
 
 
 
 
Arena
 
136-138
90

04/14/14
 
 
 
 
 
 
 
 
 
 
 
 
Average
 
228

 
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
March 21, 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
 
91

 
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
 
Shipyard
 
 
 
 
 
04/13/13
 
Scheduled downtime for ABS 5-year special survey/repairs
 
 
 
Enroute
 
82-84
 
10

 
04/23/13
 
Mobilization rate
 
Democratic Republic of Congo
 
Perenco
 
89-91
 
23

 
05/16/13
 
 
 
 
 
Democratic Republic of Congo
 
 
106-108
 
334

 
04/15/14
 
 
 
 
 
Gabon
 
 
114-116
 
31

 
05/16/14
 
 
4
 
Hercules 261
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
83-85
 
557

 
09/29/14
 
 
5
 
Hercules 262
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
79-81
 
597

 
11/08/14
 
 
6
 
Hercules 266
 
250’ - ILC, TD
 
Saudi Arabia
 
Enroute
 
 
 
 
 
03/31/13
 
Contract preparation work
 
 
Saudi Aramco
 
116-118
 
974

 
11/30/15
 
Will receive lump sum payment upon contract commencement. 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 expxected to commence in June 2013.
 
 
 
 
 
 
 
 
 
 
Average
 
374

 
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
March 21, 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
 
16

 
04/06/13
 
Contract commenced March 15, 2013
 
 
 
 
EPL
 
29-31
 
90

 
07/05/13
 
 
2
 
Hercules 41
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Castex
 
26-28
 
20

 
04/10/13
 
 
3
 
Hercules 49
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Century
 
29-31
 
52

 
05/12/13
 
Contract commenced March 20, 2013
 
 
 
 
 
 
 
 
 
 
Average
 
59

 
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
February 28, 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 February and March
170-215
 
4

 
4

 
15,736

 
96

 
86
%
 
One vessel in drydock in February and March
140-150
 
5

 
5

 
10,661

 
82

 
59
%
 
One vessel in drydock in February and two vessels in drydock in March
120-130
 
14

 
12

 
6,775

 
277

 
82
%
 
Two vessels in drydock in March
105
 
15

 
7

 
5,861

 
97

 
49
%
 
Two vessels in drydock in February and March
Sub-total/Average
 
39

 
29

 
$
8,750

 
552

 
68
%
 
 
International
 
 
 
 
 
 
 
 
 
 
 
 
230-260
 
3

 
3

 
$
32,174

 
8

 
10
%
 
One vessel in drydock in February. Acquisition of White Shark (former Titan 2) completed March 1, 2013.
170-215
 
6

 
6

 
39,577

 
120

 
71
%
 
Two vessels in drydock in February
140-150
 
4

 
4

 
16,256

 
84

 
75
%
 
 
120-130
 
7

 
7

 
12,779

 
195

 
99
%
 
 
105
 
4

 
2

 
14,099

 
28

 
50
%
 
One vessel in drydock in February and March
Sub-total/Average
 
24

 
22

 
$
21,285

 
435

 
71
%
 
 
Total/Average
 
63

 
51

 
$
14,274

 
987

 
69
%
 
 
 
(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