EX-99.1 2 september13fsrex991.htm HERCULES OFFSHORE FLEET STATUS September13FSRex991
Hercules Offshore
Monthly Rig Fleet Status Report
as of
September 15, 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
 
107
 
12/31/13
 
Estimated downtime of 14 days in late September 2013
2
 
Hercules 150
 
150’ - ILC, TD
 
GOM
 
Arena
 
76-78
 
1
 
09/16/13
 
 
 
Northstar
 
89-91
 
100
 
12/25/13
 
ABS 5-year special survey in 2Q14; estimated downtime of 120 days
3
 
Hercules 173
 
173’ - MC, TD
 
GOM
 
Chevron
 
64-66
 
107
 
12/31/13
 
 
4
 
Hercules 200
 
200’ - MC, TD
 
GOM
 
Petroquest
 
101-103
 
12
 
09/27/13
 
 
Walter Oil & Gas
 
101-103
 
150
 
02/24/14
 
 
5
 
Hercules 201
 
200’ - MC, TD
 
GOM
 
EPL
 
101-103
 
1
 
09/16/13
 
 
 
 
 
 
 
106-108
 
180
 
03/15/14
 
ABS 5-year special survey in 1Q14; estimated downtime of 90 days
6
 
Hercules 202
 
200’ - MC, TD
 
GOM
 
MC Offshore
 
101-103
 
43
 
10/28/13
 
Estimated downtime of 7 days after current contract expiration. ABS 5-year special survey in 2Q14; estimated downtime 90 days
7
 
Hercules 203
 
200’ - MC, TD
 
GOM
 
Shipyard
 
 
 
 
 
06/30/14
 
Rig scheduled to arrive at shipyard in early 4Q13 for reactivation
8
 
Hercules 204
 
200’ - MC, TD
 
GOM
 
Chevron
 
81-83
 
107
 
12/31/13
 
Contract rate based on prior commitment made in October 2012
9
 
Hercules 205
 
200’ - MC, TD
 
GOM
 
Enroute
 

 

 
09/27/13
 
Enroute to South Timbalier to assist with salvage of the Hercules 265
 
 
 
 
Shipyard
 
 
 
 
 
12/26/13
 
ABS 5-year special survey; estimated downtime of 90 days
 
 
 
 
Black Elk
 
84-86
 
22
 
01/17/14
 
 
 
 
 
 
Black Elk
 
101-103
 
180
 
07/16/14
 
 
10
 
Hercules 209
 
200' - MC, TD
 
GOM
 
Sandridge
 
101-103
 
35
 
10/20/13
 
 
11
 
Hercules 212
 
200’ - MC, TD
 
GOM
 
W&T Offshore
 
84-86
 
1
 
09/16/13
 
 
 
Renaissance
 
86-88
 
45
 
10/31/13
 
Estimated downtime of 7 days after current contract expiration
12
 
Hercules 213
 
200’ - MC, TD
 
GOM
 
EPL
 
101-103
 
19
 
10/04/13
 
Estimated downtime of 14 days in late October 2013
 
 
 
 
 
106-108
 
180
 
04/02/14
 
 
13
 
Hercules 214
 
200’ - MC, TD
 
GOM
 
Apache
 
101-103
 
167
 
03/01/14
 
 
14
 
Hercules 251
 
250’ - MS, TD
 
GOM
 
Shipyard
 

 

 
10/27/13
 
ABS 5-year special survey
 
 
 
 
Arena
 
102-104
 
105
 
02/09/14
 
Partial transfer of prior Arena contract on Hercules 265
15
 
Hercules 253
 
250’ - MS, TD
 
GOM
 
Tana
 
74-76
 
2
 
09/17/13
 
 
 
 
96-98
 
65
 
11/21/13
 
Estimated downtime of 10 days after current contract
16
 
Hercules 263
 
250’ - MC, TD
 
GOM
 
Tana
 
89-91
 
29
 
10/14/13
 
Estimated downtime of 7 days after current contract
 
Walter Oil & Gas
 
97-99
 
30
 
11/20/13
 
 
 
Tana
 
97-99
 
40
 
12/30/13
 
 
 
Tana
 
109-111
 
180
 
06/28/14
 
Contract rate based upon prior commitment made in May 2013
17
 
Hercules 264
 
250’ - MC, TD
 
GOM
 
Castex
 
86-88
 
83
 
12/07/13
 
 
 
 
 
 
Shipyard
 
 
 
 
 
03/07/14
 
ABS 5-year special survey; estimated downtime of 90 days
 
 
 
 
Castex
 
116-118
 
90

06/05/14
 
 
 
 
 
 
 
119-121
 
90
 
09/03/14
 
 

Page 1 of 4




Hercules Offshore
Monthly Rig Fleet Status Report
as of
September 15, 2013



 
 
 
 
 
 
 
 
 
 
Contract (2)
Dayrate  ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
18
 
Hercules 265
 
250’ - MC, TD
 
GOM
 
See Comments
 

 


 

 
Rig is out of service indefinitely as a result of the South Timbalier well control incident. Rig sustained extensive damage and is not actively marketed at this time. Prior contract with operator transferred to other Hercules rigs.
19

 
Hercules 300
 
300' - MC, TD
 
GOM
 
Arena
 
96-98
 
1

 
09/16/13
 
On reduced rate while waiting on weather for approximately 10 days
Shipyard
 
 
12/15/13
ABS 5-year special survey; estimated downtime of 90 days
Arena
96-98
160

05/24/14
 
99-101
180

11/20/14
 
20

 
Hercules 350
 
350' - ILC, TD
 
GOM
 
Renaissance
 
134-136
 
94

 
12/18/13
 

Arena
 
136-138
90

03/18/14
 
 
 
 
 
Arena
 
136-138
365

03/18/15
 
 
 
 
 
 
 
 
 
 
 
 
Average (4)
 
170

 
days
 
 
21

 
Hercules 85
 
85’ - ILS, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
22

 
Hercules 153
 
150’ - MC, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
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 4




Hercules Offshore
Monthly Rig Fleet Status Report
as of
September 15, 2013

 
 
 
 
 
 
 
 
 
 
Contract  (2)
Dayrate ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
International Offshore
1
 
Hercules Resilience
 
400' - ILC, TD
 
Singapore
 
Under Construction
 
 
 
 
 
10/07/13
 
 
 
 
Shipyard
 
 
 
 
 
11/30/13
 
Additional shipyard time for rig upgrade work
2
 
Hercules Triumph
 
400' - ILC, TD
 
Singapore
 
Enroute
 
 
 
 
 
10/27/13
 
 
India
 
Cairn
 
214-216
 
110

 
02/14/14
 
Company to receive mobilization/demobilization fee of $13 million
3
 
Hercules 170
 
170’ - ILC, TD
 
Bahrain
 
Warm Stacked
 
 
 
 
 
 
 
 
4
 
Hercules 208
 
200' - MC, TD
 
Singapore
 
Shipyard
 
 
 
 
 
12/15/13
 
Prior contract concluded on 09/11/13. ABS 5-year special survey. LOA signed for 235 days at dayrate of $127k-$129k expected to commence in January 2014.
5
 
Hercules 260
 
250’ - ILC, TD
 
Democratic Republic of Congo
 
Perenco
 
106-108
 
198

 
04/01/14
 
 
6
 
Hercules 261
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
83-85
 
379

 
09/29/14
 
ABS 5-year special survey scheduled for the second quarter 2014; estimated downtime of 90 days
 
135-137
 
1,825

 
09/28/19
 
 
7
 
Hercules 262
 
250’ - ILC, TD
 
Saudi Arabia

Saudi Aramco
 
79-81
 
419

 
11/08/14
 
Estimated downtime of 14 days for UWILD in January 2014
117-119
 
1,825

 
11/07/19
 
 
8
 
Hercules 266
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
116-118
 
806

 
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
 
 
 
 
 
09/30/13
 

 
 
 
Angola
 
CABGOC
 
108-110
 
1,095

 
09/29/16
 
Received work visas. Scheduled to mobilize mid/late-September.
 
 
 
 
 
 
 
 
 
 
Average (4)
 
832

 
days
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10
 
Hercules 156
 
150’ - ILC, TD
 
Bahrain
 
Cold Stacked 12/10
 
 
 
 
 
 
 
 
11
 
Hercules 258
 
250’ - MS, TD
 
Malaysia
 
Cold Stacked 10/12
 
 
 
 
 
 
 
 
 
(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 3 of 4




Hercules Offshore
Liftboat Fleet Status Report
for the month ended
August 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
230-280
 
4

 
4

 
$
56,906

 
78

 
63
%
 
One vessel in for capital work in September and October and one vessel in drydock in September and October
170-215
 
6

 
6

 
39,516

 
169

 
91
%
 
One vessel in for capital work in October, one vessel in drydock in September and October
140-150
 
4

 
4

 
14,981

 
93

 
75
%
 
One vessel in for capital work in September
120-130
 
7

 
7

 
11,419

 
171

 
79
%
 

105
 
3

 
2

 
10,230

 
62

 
100
%
 
 
Total/Average
 
24

 
23

 
$
26,347

 
573

 
80
%
 
 
 
(1)
Actively marketed liftboats excludes one West Africa coldstacked liftboat.
(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 4 of 4