EX-99.1 2 july13fsrex991.htm HERCULES OFFSHORE FLEET STATUS July13FSRex991
Hercules Offshore
Monthly Rig Fleet Status Report
as of
July 18, 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
 
166
 
12/31/13
 
 
2
 
Hercules 150
 
150’ - ILC, TD
 
GOM
 
Arena
 
76-78
 
38
 
08/25/13
 
 
 
Northstar
 
89-91
 
100
 
12/03/13
 
 
3
 
Hercules 173
 
173’ - MC, TD
 
GOM
 
Chevron
 
64-66
 
166
 
12/31/13
 
 
4
 
Hercules 200
 
200’ - MC, TD
 
GOM
 
Shipyard
 
 
 
 
 
07/24/13
 
Estimated downtime for repair and maintenance work
Gulf Coast Energy Resources
 
94-96
 
20

08/13/13
 
 
Petroquest
 
101-103
 
40
 
09/22/13
 
 
 
 
 
 
Walter Oil & Gas
 
101-103
 
150
 
02/19/14
 
 
5
 
Hercules 201
 
200’ - MC, TD
 
GOM
 
EPL
 
101-103
 
54
 
09/10/13
 
 
 
 
 
 
 
106-108
 
180
 
03/09/14
 
 
6
 
Hercules 202
 
200’ - MC, TD
 
GOM
 
W&T Offshore
 
66-68
 
2
 
07/20/13
 

Contango
 
101-103
 
26
 
08/15/13
 
 
 
 
 
 
MC Offshore
 
101-103
 
20
 
09/04/13
 
Previously assigned to Hercules 212
7
 
Hercules 204
 
200’ - MC, TD
 
GOM
 
Chevron
 
81-83
 
166
 
12/31/13
 
Contract rate based on prior commitment made in October 2012
8
 
Hercules 205
 
200’ - MC, TD
 
GOM
 
Black Elk
 
84-86
 
93
 
10/19/13
 
 
 
 
 
 
Shipyard
 
 
 
 
 
01/17/14
 
ABS 5-year special survey; estimated downtime of 90 days
 
 
 
 
Black Elk
 
101-103
 
180
 
07/16/14
 
 
9
 
Hercules 209
 
200' - MC, TD
 
GOM
 
Hall-Houston
 
94-96
 
15
 
08/02/13
 
Contract commenced June 25, 2013
 
 
 
 
Sandridge
 
101-103
 
75
 
10/16/13
 
 
10
 
Hercules 212
 
200’ - MC, TD
 
GOM
 
W&T Offshore
 
84-86
 
16
 
08/03/13
 
 
 
Renaissance
 
86-88
 
45
 
09/17/13
 
 
11
 
Hercules 213
 
200’ - MC, TD
 
GOM
 
EPL
 
81-83
 
5
 
07/23/13
 
 
 
 
 
 
 
101-103
 
90
 
10/21/13
 
 
 
 
 
 
 
106-108
 
180
 
04/19/14
 
 
12
 
Hercules 214
 
200’ - MC, TD
 
GOM
 
Apache
 
79-81
 
37
 
08/24/13
 
 
 
101-103
 
180
 
02/20/14
 
 
13
 
Hercules 251
 
250’ - MS, TD
 
GOM
 
Hall-Houston
 
57-59
 
-
 
07/18/13
 
Prior contract reassignment
 
Shipyard
 

 

 
10/16/13
 
ABS 5-year special survey; estimated downtime of 90 days
 
Hall-Houston
 
74-76
 
36
 
11/21/13
 

14
 
Hercules 253
 
250’ - MS, TD
 
GOM
 
Tana
 
74-76
 
54
 
09/10/13
 
 
 
 
96-98
 
65
 
11/14/13
 
 
15
 
Hercules 263
 
250’ - MC, TD
 
GOM
 
Tana
 
86-88
 
28
 
08/15/13
 
 
 
 
89-91
 
80
 
11/03/13
 
Contract assignment to Walter Oil & Gas
 
Walter Oil & Gas
 
97-99
 
30
 
12/03/13
 
 
 
Tana
 
97-99
 
40
 
01/12/14
 
 
16
 
Hercules 264
 
250’ - MC, TD
 
GOM
 
Castex
 
86-88
 
149
 
12/14/13
 
 
 
 
 
 
Shipyard
 
 
 
 
 
03/14/14
 
ABS 5-year special survey; estimated downtime of 90 days
 
 
 
 
Castex
 
116-118
 
90

06/12/14
 
 
 
 
 
 
 
119-121
 
90
 
09/10/14
 
 

Page 1 of 5






Hercules Offshore
Monthly Rig Fleet Status Report
as of
July 18, 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
 
Walter Oil & Gas
 
101-103
 
30

 
08/17/13
 
 
 
Shipyard
 
 
 
 
 
08/31/13
 
Estimated downtime for repair and maintenance work
 
 
 
 
Arena
 
102-104
 
240

 
04/28/14
 
 
18

 
Hercules 300
 
300' - MC, TD
 
GOM
 
Arena
 
96-98
 
12

 
07/30/13
 
 
Shipyard
 
 
10/28/13
ABS 5-year special survey; estimated downtime of 90 days
Arena
96-98
208

05/24/14
 
99-101
180

11/20/14
 
19

 
Hercules 350
 
350' - ILC, TD
 
GOM
 
Renaissance
 
134-136
 
153

 
12/18/13
 

Arena
 
136-138
90

03/18/14
 
 
 
 
 
Arena
 
136-138
365

03/18/15
 
 
 
 
 
 
 
 
 
 
 
 
Average (4)
 
210

 
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
July 18, 2013


 
 
 
 
 
 
 
 
 
 
Contract  (2)
Dayrate ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
International Offshore
1
 
Discovery Resilience
 
400' - ILC, TD
 
Singapore
 
Under Construction
 
 
 
 
 
10/07/13
 
 
2
 
Discovery Triumph
 
400' - ILC, TD
 
Singapore
 
Shipyard
 
 
 
 
 
 
 
 
3
 
Hercules 170
 
170’ - ILC, TD
 
Bahrain
 
Warm Stacked
 
 
 
 
 
 
 
 
4
 
Hercules 208
 
200' - MC, TD
 
Myanmar
 
PTTEP
 
95-97
 
74

 
09/30/13
 
 
 
 
 
Shipyard
 
 
 
 
 
12/29/13
 
Scheduled downtime for ABS 5-year special survey/repairs
5
 
Hercules 260
 
250’ - ILC, TD
 
Democratic Republic of Congo
 
Perenco
 
106-108
 
279

 
04/23/14
 
 
 
Gabon
 
 
114-116
 
31

 
05/24/14
 
 
6
 
Hercules 261
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
83-85
 
438

 
09/29/14
 
 
7
 
Hercules 262
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
79-81
 
478

 
11/08/14
 
 
8
 
Hercules 266
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
116-118
 
865

 
11/30/15
 
Contract expiration between 9/30/15 and three years post commencement of contract (April 8, 2013) at discretion of customer.
9
 
Hercules 267
 
250' - ILC, TD
 
Gabon
 
Shipyard
 
 
 
 
 
08/15/13
 
Waiting on work visas
 
 
 
Angola
 
CABGOC
 
108-110
 
1,095

 
08/14/16
 
 
 
 
 
 
 
 
 
 
 
 
Average (4)
 
466

 
days
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10
 
Hercules 156
 
150’ - ILC, TD
 
Bahrain
 
Cold Stacked 12/10
 
 
 
 
 
 
 
 
11
 
Hercules 258
 
250’ - MS, TD
 
Malaysia
 
Cold Stacked 10/12
 
 
 
 
 
 
 
 
 
Page 3 of 5



Hercules Offshore
Monthly Rig Fleet Status Report
as of
July 18, 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
 
EPL
 
29-31
 
-
 
07/18/13
 
Sale pending
2
 
Hercules 41
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
 
 
 
 
 
 
 
 
Sold July 2013
3
 
Hercules 49
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
 
 
 
 
 
 
 
 
Sold July 2013
 
 
 
 
 
 
 
 
 
 
Average (4)
 
-
 
days
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4
 
Hercules 01
 
Conv - 2000 hp
 
US Inland Gulf Coast
 
Cold Stacked 10/08
 
 
 
 
 
 
 
Sold July 2013
5
 
Hercules 11
 
Conv - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 02/09
 
 
 
 
 
 
 
Sold July 2013
6
 
Hercules 19
 
Conv - 1000 hp
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
Sold July 2013
7
 
Hercules 27
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
Sale pending
8
 
Hercules 46
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
Sold July 2013
9
 
Hercules 48
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 03/09
 
 
 
 
 
 
 
Sold July 2013
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
 
 
 
 
 
 
 
Sold July 2013
12
 
Hercules 57
 
Posted - 2000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
Sold July 2013
13
 
Hercules 64
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 03/09
 
 
 
 
 
 
 
Sold July 2013
 
(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.
(4)
Average backlog per rig based on rigs available for hire and actively marketed.

Page 4 of 5



 



Hercules Offshore
Liftboat Fleet Status Report
for the month ended
June 30, 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 (4)
 
 
 
 
 
 
 
 
 
 
 
 
230
 
1

 
1

 
$
25,960

 
6

 
20
%
 

170-215
 
4

 
4

 
15,043

 
43

 
36
%
 

140-150
 
5

 
5

 
10,451

 
115

 
77
%
 

120-130
 
14

 
12

 
6,950

 
234

 
65
%
 

105
 
15

 
7

 
6,410

 
156

 
74
%
 

Sub-total/Average
 
39

 
29

 
$
8,359

 
554

 
64
%
 
 
International
 
 
 
 
 
 
 
 
 
 
 
 
230-280
 
4

 
4

 
$
42,440

 
50

 
42
%
 
One vessel in for capital work in June and one vessel in for repair in June
170-215
 
6

 
6

 
36,635

 
118

 
66
%
 
One vessel in drydock in June and July
140-150
 
4

 
4

 
15,616

 
88

 
73
%
 
 
120-130
 
7

 
7

 
12,695

 
157

 
75
%
 
One vessel in drydock in June and July
105
 
3

 
2

 
10,304

 
48

 
80
%
 

Sub-total/Average
 
24

 
23

 
$
22,358

 
461

 
67
%
 
 
Total/Average
 
63

62

52

 
$
14,717

 
1,015

 
65
%
 
 
 
(1)
Actively marketed liftboats excludes ten GOM 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.
(4)
Gulf of Mexico vessels sold as of July 1, 2013.
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