8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 26, 2011

Seahawk Drilling, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-34231	72-1269401
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

5 Greenway Plaza, Suite 2700, Houston, Texas 77046

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (713) 369-7300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure.

On May 26, 2011, the Debtors filed their monthly operating report for the period from April 1, 2011 to April 30, 2011 (the “Monthly Operating Report”) with the Bankruptcy Court. The Monthly Operating Report is attached hereto as Exhibit 99.1 and is incorporated by reference herein. This Current Report on Form 8-K, including Exhibit 99.1 being furnished as part of this report, will not be deemed an admission as to the materiality of any information required to be disclosed solely by Regulation FD.

All documents filed in connection with the Bankruptcy Case, including the Monthly Operating Report, are publicly available and may be accessed free of charge at the website of the Debtors’ Claims, Notice and Balloting Agent, Kurtzman Carson Consultants, LLC, http://www.kccllc.net/seahawk.

The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report contains consolidated information regarding the Debtors and does not contain information regarding the non-Debtor subsidiaries of the Company. The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was prepared in accordance with Generally Accepted Accounting Principles in the United States, except as otherwise noted in the Monthly Operating Report, is in a format prescribed by applicable bankruptcy laws, and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from those required in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and such information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 and the related exhibit incorporated herein by reference shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

1

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Monthly Operating Report for the period from April 1, 2011 to April 30, 2011, filed with the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SEAHAWK DRILLING, INC.
Date: May 27, 2011	By:	/S/ JAMES R. EASTER
		James R. Easter
		President and Chief Executive Officer

3

EXHIBIT INDEX

Exhibit Number	Description
99.1	Monthly Operating Report for the period from April 1, 2011 to April 30, 2011, filed with the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division

EX-99.1

Exhibit 99.1

United States Bankruptcy Court

Southern District of Texas

Corpus Christi Division

Case Name:	Seahawk Drilling Inc., Debtor in Possession	(1) (2) (3)	Petition Date:	2/11/2011
Case Number:	11-20089

Monthly Operating Report Summary for Month - April / Year 2011

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month (6) 4/30/2011			Month 4	Month 5
Revenues		4,231,305			9,355,194			8,216,764
Income Before Interest, Taxes, Depr., Amort.		(6,629,006	)		(2,127,964	)		31,965,342	(7)
Net Income (Loss)		(6,764,992	)		(2,978,267	)		31,639,408
Payments to Insiders		(1,969,502	)		(103,914	)		(161,708	)
Payments to Professionals		—			(75,000	)		(3,792,803	)
Total Disbursements		(14,207,890	)		(9,936,438	)		(30,251,975	)

	Required Insurance  Maintained As of Signature Date		Exp Date
Casualty	Yes (X)	No (  )	6/30/2011
Liability	Yes (X)	No (  )	6/30/2011
Vehicle	Yes (X)	No (  )	6/30/2011
Workers	Yes (X)	No (  )	6/30/2011
Other	Yes (X)	No (  )	6/30/2011

			Circle One
Are all accounts receivable being collected within terms?			Yes (  )	No (X) (4)
Are all post-petition liabilities, including taxes, being paid within terms?			Yes (X)	No (  )
Have any pre-petition liabilities been paid?			Yes (X)	No (  )
If so, describe:	Only as approved in 1st day order and interim DIP order; taxing authorities, insurance, employee benefits / expense reports, Natixis bank group
Are all funds received being deposited into DIP bank accounts?			Yes (X)	No (  )
Were any assets disposed of outside the normal course of business?			Yes (X)	No (  )
If so, describe:	Sonora assets; April: completed asset sale to Hercules (see footnote 6 below
Are all U.S. Trustee Quarterly Fee Payments current?			Yes (X)	No (  ) (5)
What is the status of your Plan of Reorganization?		Filed Friday, May 20, 2011

Attorney Name	Berry D. Spears
Firm Name	Fulbright & Jaworski L.L.P.
Address	1301 McKinney
	Suite 5100
City, State, ZIP	Houston, TX 77010
Telephone/Fax	713.651.5151

I certify under penalty of perjury that the following complete Monthly Operating Report (MOR) is true and correct.
/s/ James R. Easter	Title	Senior V.P. and Chief Financial Officer
(Original Signature)
James R. Easter		5/27/11
(Print Name of Signatory)		(Date)

(1) The jointly administered Debtors are authorized to file monthly operating reports on a consolidated basis, and have disbursements broken down by case number on Exhibit A attached; the following entities are included in the joint administration: Seahawk Drilling, Inc., Seahawk Global Holdings, LLC, Seahawk Drilling Management, LLC, Seahawk Drilling, LLC, Seahawk Drilling USA, LLC, Seahawk Offshore Management, LLC,

Energy Supply International, LLC, Seahawk Mexico Holdings, LLC.

(2) By agreement with the US Trustee, these reports are to be provided 30 days following each month end.

(3) Prepared according to GAAP, unless otherwise noted

(4) Outstanding receivables were collected within the same time period consistent with our pre-filing experience. However, effective 4/27, all receivables were sold to Hercules Offshore, Inc.

(5) Debtor believes as of May 26th, all payments are current and up to date

(6) On April 27, 2011 the Debtors sold all drilling assets and related working capital assets to Hercules Offshore, Inc. under the court approved asset purchase agreement and received $25,000,012 cash and 22,321,425 shares of HERO stock

(7) Includes $38M gain on sale of assets (see footnote 6)

MOR 1

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Comparative Balance Sheets

Description	Filing Date*			Month 2/28/2011			Month 3/31/2011			Month 4/30/2011			Month 4			Month 5
ASSETS
Cash and Cash Equivalents	$	4,071,237		$	3,300,277		$	2,658,364		$	14,440,970
Trade Receivables, net		17,987,928			16,798,437			16,271,656			—
Inventory		—			—			—			—
Deferred Income Taxes		0			0			0			0
Due from Pride		1,440,670			1,440,670			1,440,670			1,440,670
Insurance Claims		2,072,172			1,922,467			1,925,741			1,927,134
Other Current Assets		7,346,857			6,774,007			2,513,034			1,593,627
ST Investments (3)		—			—			—			126,785,694
Assets Held for Sale		112,300,000			112,300,000			112,648,691			—
Total Current Assets		145,218,864			142,535,858			137,458,156			146,188,094
Property, Plant & Equipment (Net)		—			—			—			—
Other Long Term Assets		—			—			—			—
Deferred Cost - Long Term Portion		—			—			—			—
Goodwill		—			—			—			—
Total Other Long Term Assets		—			—			—			—
TOTAL ASSETS	$	145,218,864		$	142,535,858		$	137,458,156		$	146,188,094
LIABILITIES & SHAREHOLDERS EQUITY
Pre-petition Liabilities
Accounts Payable		12,660,585			9,756,143			9,440,014			425,129
Pride		17,181,355			17,224,790			17,224,790			17,224,790
Notes Payable - Secured		—			—			—			—
Priority Debt		—			—			—			—
Payoll Taxes		86,667			212,993			—			—
Unsecured Debt		—			—			—			—
Other		36,274,816			31,908,482			31,315,471			30,670,153
Total Pre-petition Liabilities		66,203,423			59,102,408			57,980,274			48,320,071
Post-petition Liabilities
Accounts Payable		—			358,387			748,671			641,622
Due to Pride		—			184,235			627,937			868,735
Accrued Expenses		—			7,103,468			8,568,763			7,572,550
Current Debt		17,900,000			20,726,911			18,114,402			5,750,000
Other Current Liabilities		—			701,772			0			0
Total Post-petition Liabilities		17,900,000			29,074,774			28,059,773			14,832,907
Total Current Liabilities		84,103,423			88,177,182			86,040,047			63,152,978			(1	)
Pre-petition Long-Term Liabilities:
Long-Term Accruals and Provisions		2,097,818			2,097,818			2,144,109			2,123,808
Intercompany Accounts Payable		354,908,443			354,916,671			354,908,078			354,905,978			(2	)
Deferred Income Taxes - Long Term		—			—			—			—
Total Long Term Liabilities		357,006,261			357,014,488			357,052,187			357,029,786
TOTAL LIABILITIES		441,109,684			445,191,670			443,092,234			420,182,765
Total Shareholders Equity		(295,890,820	)		(302,655,812	)		(305,634,079	)		(273,994,670	)
TOTAL LIABILITIES & SHAREHOLDERS EQUITY	$	145,218,864		$	142,535,858		$	137,458,156		$	146,188,094

* Per Schedules and Statement of Affairs

(1) April 22, 2011 was the claims bar date in the debtors cases. The debtors are now reconciling claims to those scheduled.

(2) Claims bar date was April 22, 2011. Debtors expect to eliminate Intercompany payables. Will be reconciled and reported according to GAAP in subsequent months.

(3) 22.3 Million shares of Hercules stock at $5.68/share at market close on April 27, 2011

MOR 2 / 3

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Schedule of Post-Petition Liabilities

Description	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 4/30/2011		Month 4			Month 5
Pre-Petition Liabilities:
Trade accounts payable	$	9,756,143	$	9,440,014	$	425,129
Due to pride		17,224,790		17,224,790		17,224,790
Short-term debt - secured		—
Accrued expenses and other current liabilities
Contingency claims		11,561,084		11,734,606		11,734,606
Payroll and benefits		—		—		—
Accrued medical insurance		4,688,454		4,214,381		3,671,518
Payroll taxes		212,993		—		—
Other taxes		25,000		25,000		25,000
Deferred mobilization revenue		86,667		—		—
Customer advances		—		—		—
Accrued rent		667,257		667,257		667,257
Accrued professional fees		49,005		2,845		—
Other accrued expenses		14,831,015		14,671,381		14,571,771
Total accrued expenses and other current liabilities		32,121,475		31,315,471		30,670,153
Long-term accruals and provisions		2,097,818		2,144,109		2,123,808
Intercompany accounts payable		354,916,670		354,908,078		354,905,978		(1	)
Total Pre-Petition Liabilities		416,116,896		415,032,461		405,349,857
Post-Petition Liabilities:
Trade Accounts Payable		358,387		748,671		641,622
Due to Pride		184,235		627,937		868,735
Short-term debt		20,726,911		18,114,402		5,750,000
Accrued expenses and other current liabilities
Contingency claims		—		34,433		32,863
Payroll and benefits		630,030		998,717		842,918
Accrued medical insurance		—		—		—
Payroll taxes		567,905		659,101		795,854
Other taxes		95,911		120,911		295,911
Deferred mobilization revenue		256,806		—		—
Customer advances		358,300		—		—
Accrued rent		—		23,009		46,017
Accrued professional fees		1,053,705		1,141,301		2,760,036
Other accrued expenses		4,842,584		5,591,292		2,798,951
Total accrued expenses and other current liabilities		7,805,241		8,568,764		7,572,550
Long-term accruals and provisions		—		—		—
Intercompany accounts payable		—		—		—
Total Post-Petition Liabilities	$	29,074,775	$	28,059,774	$	14,832,907

(1) Claims bar date was April 22, 2011 Expect to eliminate Intercompany payable. Will be reconciled and reported according to GAAP in subsequent months.

MOR 4

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Aging of Post-Petition Liabilities as of April 30, 2011

Days	Total		Trade Accounts		Federal Taxes		State Taxes			Ad Valorem, Other  Taxes
0-30		1,293,221		322,367		805,785		(9,931	)		175,000
31-60		359,255		319,255		—		—			40,000
61-90		80,911		—		—		—			80,911
91+		—		—		—		—			—
TOTAL SEAHAWK		1,733,387		641,622		805,785		(9,931	)		295,911

Aging of Accounts Receivable

Month	Month 2/28/2011			Month 3/31/2011			Month 4/30/2011		Month 4	Month 5
0-30		13,302,498			12,019,703			—
31-60		3,249,761			4,349,870			—
61-90		292,314			3,001			—
91+		(46,136	)		(100,919	)		—
TOTAL SEAHAWK		16,798,437			16,271,656			—

MOR 5

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Statement of Income (Loss)

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month (1) 4/30/2011			Month 4	Month 5	Filing to Date
Operating Revenue		4,267,470			8,609,672			7,975,567	(2)				20,852,709
Mob/Demob/Reimbursable Revenue		(36,165	)		745,522			241,197					950,553
Total Revenues		4,231,305			9,355,194			8,216,764					21,803,263
Costs and Expenses
Operating Costs
Wages & Burden		1,359,019			3,385,738			3,643,825					8,388,583
Repairs & Maintenance / Supplies		337,772			620,916			502,250					1,460,937
Rental Expenses		168,731			(58,929	)		183,140					292,942
Other Operating Costs		738,915			1,217,365			1,857,368					3,813,647
Mob/Demob/Reimbursable Expense		253,764			561,216			(50,166	)				764,813
Other Direct Costs		619,881			2,760,362			100,152					3,480,395
Total Operating Costs		3,478,080			8,486,668			6,236,569					18,201,317
Depreciation & Amortization		—			—			—					—
General & Administrative		7,261,188			2,616,530			5,648,080					15,525,798
(Gain) Loss on Sale of Fixed Assets		—			—			(35,553,707	)				(35,553,707	)
Impairment of Fixed Assets		—			—			(200,018	)				(200,018	)
Operating Income (Loss)		(6,507,964	)		(1,748,004	)		32,085,840					23,829,873
Other Income (Expense)
Interest Income (Expense)		(131,481	)		(804,012	)		(312,603	)				(1,248,096	)
Other Income (Expense)		(121,042	)		(379,960	)		(120,499	)				(621,501	)
Income Before Income Taxes		(6,760,487	)		(2,931,975	)		31,652,739					21,960,276
Income Tax Expense (Benefit)		4,505			46,291			13,330					64,127
Income (Loss) from Continuing Operations		(6,764,992	)		(2,978,267	)		31,639,408					21,896,149

(1) On April 27, 2011 the Debtors sold all drilling assets and related working capital assets to Hercules Offshore, Inc. under the court approved asset purchase agreement and received $25,000,012 cash and 22,321,425 shares

(2) Drilling revenues for April was 27 days at which point the assets were sold to Hercules Offshore, Inc.

MOR 6

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Statement of Cash Flows

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 4/30/2011			Month 4		Month 5
Beginning Cash Balance		4,071,237			3,300,277			2,658,364
Contract Drilling		6,035,902			9,180,203			10,852,454
Other		813,007			114,322			25,031,987
Total Cash Receipts		6,848,909			9,294,525			35,884,441			—		—
Operating Expenses		(1,022,663	)		(2,829,125	)		(2,931,824	)
Payroll		(2,298,422	)		(4,030,567	)		(3,174,576	)
Insurance		(3,520,032	)		—			—
Pride Wyoming		—			—			—
Ordinary Course Professionals		—			—			—
Rent		—			—			—
G&A and Other		—			—			—
Total Cash Disbursements		(6,841,117	)		(6,859,692	)		(6,106,400	)		—		—
Net Cash Flow From Operations		7,792			2,434,833			29,778,041			—		—
Restructuring Related
CIC and LTIP Payments		(2,305,217	)		—			(68,461	)
Restructuring Professionals		—			(75,000	)		(3,792,803	)
U.S. Trustee		—			—			—
Total Restructuring Related		(2,305,217	)		(75,000	)		(3,861,264	)		—		—
Financing Fees
Natixis Facility Repayment		(17,900,000	)		—			—
DIP Fees		—			—			(1,577,465	)
DIP Interest		—			(389,237	)		(192,203	)
DIP Borrowings (Repayment)		19,426,465			(2,612,509	)		(12,364,503	)(1)
Total Financing Payments / Borrowing		1,526,465			(3,001,746	)		(14,134,171	)		—		—
Ending Cash Balance		3,300,277			2,658,364			14,440,970			—		—

(1) DE Shaw DIP loan was repaid ($18.1M) during April and received $5.8M under the new Hayman DIP agreement

MOR 7

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Cash Account Reconciliation - Month of 4/1/11 - 4/30/11

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g. salary, commission, bonus, etc.) (Attach additional pages as necessary).

Bank Name Account Number Account Type	30647841 SDI			Checking 38749957 SDI			38749965 SDI			30803656 SH Drlg LLC		Checking 38751256 SH Drlg LLC			38751264 SH Drlg LLC		30648414 SH Drlg LLC		30806072 ESI
Bank Balance		2,850,804			0			0			0		0			0		0		0
Deposit in Transit		0			0			0			0		0			0		0		0
Outstanding Checks		0			(70,109	)		0			0		(66,584	)		0		0		0
Adjustment Bank Balance		1			(2,857	)		(2,500	)		0		17,158			0		0		2,352
Beginning Cash - Per Books		2,850,805			(72,966	)		(2,500	)		0		(49,426	)		0		0		2,352
Receipts*		35,884,315			126			0			0		0			0		0		0
Intercompany		0			0			0			0		0			0		0		0
Transfers Between Accounts		(12,556,267	)		336,404			0			0		887,168			0		0		0
— DIP Financing		(14,134,171	)		0			0			0		0			0		0		0
— Checks / Other Disbursements		(4,238,308	)		(507,338	)		0			0		(832,677	)		0		0		0
— Adjustment		0			0			0			0		(61,285	)		0		0		(2,352	)
Sub-Total Disbursements		(18,372,479	)		(507,338	)		0			0		(893,962	)		0		0		(2,352	)
Ending Cash - Per Books *		7,806,374			(243,774	)		(2,500	)		0		(56,220	)		0		0		0

Bank Name Account Number Account Type	Checking 38803853 ESI			30765063 SDM			38751248 SDM			30806099 SDM			Checking 38803845 SDM			Encore 303093849 SH Mx Holdings		Encore 30327498 SDI		Total
Bank Balance		0			0			0			0			0			0		0		2,850,804
Deposit in Transit		0			0			0			0			0			0		0		0
Outstanding Checks		(74,484	)		0			0			0			(14,738	)		0		0		(225,915	)
Adjustment Bank Balance		(2,977	)		2,598			(4,868	)		21,550			3,018			0		0		33,475
Beginning Cash - Per Books		(77,461	)		2,598			(4,868	)		21,550			(11,720	)		0		0		2,658,364
Receipts*		0			0			0			0			0			0		0		35,884,441
Intercompany		0			0			0			0			0			0		0		0
Transfers Between Accounts		709,951			598,555			0			2,977,856			58,297			0		6,988,036		0
— DIP Financing		0			0			0			0			0			0		0		(14,134,171	)
— Checks / Other Disbursements		(667,365	)		(598,555	)		0			(2,977,856	)		(61,982	)		0		0		(9,884,081	)
— Adjustment		2,352			(2,598	)		4,868			(21,550	)		(3,018	)		0		0		(83,583	)
Sub-Total Disbursements		(665,013	)		(601,153	)		4,868			(2,999,406	)		(65,000	)		0		0		(24,101,835	)
Ending Cash - Per Books *		(32,523	)		0			0			0			(18,423	)		0		6,988,036		14,440,970

* Numbers should balance (match) Total Receipts and Total Disbursement lines on MOR 7.

MOR 8

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Payments to Insiders and Professionals

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g. salary, commission, bonus, etc.) (Attach additional pages as necessary).

INSIDERS: NAME / COMP TYPE	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 4/30/2011		Month 4		Month 5
1. Randall D. Stilley / Salaries & Wages		24,128		48,256		48,256
Randall D. Stilley / Restricted Stock Vesting, Non-cash		740,889		—		—
Randall D. Stilley / Expense Reimbursement		9,948		—		4,479
2. William C. Hoffman / Salaries & Wages		15,432		30,865		30,865
William C. Hoffman / Restricted Stock Vesting, Non-cash		445,084		—		—
3. Alejandro Cestero / Salaries & Wages		5,499		—		—
Alejandro Cestero / PTO Payout		2,909		—		—
Alejandro Cestero / Restricted Stock Vesting, Non-cash		179,053		—		—
Alejandro Cestero / Expense Reimbursement		40		—		—
4. Raymond Gonzales / Salaries & Wages		4,855		—		—
Raymond Gonzales / PTO Payout		1,831		—		—
Raymond Gonzales / Restricted Stock Vesting, Non-cash		46,500		—		—
5. James R. Easter / Salaries & Wages		12,397		24,794		24,794
James R. Easter / Restricted Stock Vesting, Non-cash		116,241		—		—
James R. Easter / Expense Reimbursement		120		—		1,082
6. Robert E. Moore / Salaries & Wages		5,048		—		—
Robert E. Moore / PTO Payout		2,654		—		—
Robert E. Moore / Restricted Stock Vesting, Non-cash		69,750		—		—
7. Stephen Snider / Board of Directors Restricted Stock Vesting, Non-cash		78,101		—		—
8. Franklin F. Myers / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—		—
Franklin F. Myers / Salaries & Wages		—		—		17,411
9. Ed P. Segner III / Board of Directors Restricted Stock Vesting,  Non-cash		25,910		—		—
Ed P. Segner III / Salaries & Wages		—		—		17,411
10. Mark E. Baldwin /Board of Directors Restricted Stock Vesting, Non-cash		25,910		—		—
11. Richard J. Alario /Board of Directors Restricted Stock Vesting, Non-cash		52,401		—		—
12. John T. Nesser III /Board of Directors Restricted Stock Vesting,  Non-cash		52,401		—		—
John T. Nesser / Salaries & Wages		—		—		17,411
TOTAL INSIDERS		1,969,502		103,914		161,708
PROFESSIONALS	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 4/30/2011		Month 4		Month 5
1. Simmons & Co.				75,000		2,197,250
2 Alvarez & Marsal						500,000
3 Fulbright & Jaworski						487,268
4 Akin Gump						96,021
5 Heller, Draper, Hayden, Patrick & Horn, LLC						150,087
6 Jones Day						120,000
7 Vinson & Elkins LLP						189,748
8 Jordan, Hyden, Womble, Culbreth & Holzer, PC						52,429
TOTAL PROFESSIONALS		—		75,000		3,792,803		—		—

MOR 9

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Exhibit A - Disbursements

Entity	Case No.		Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 4/30/2011			Month 4		Month 5
SEAHAWK DRILLING LLC		11-20088		(25,679	)		(238,901	)		(893,963	)
SEAHAWK DRILLING INC.		11-20089		(9,647,089	)		(5,882,454	)		(25,044,627	)
SEAHAWK MEXICO HOLDINGS LLC		11-20090
SEAHAWK DRILLING MANAGEMENT LLC		11-20091		(3,265,300	)		(528,580	)		(605,006	)
SEAHAWK OFFSHORE MANAGEMENT LLC		11-20092		(1,269,822	)		(3,149,377	)		(3,041,015	)
ENERGY SUPPLY INTERNATIONAL LLC		11-20093					(137,126	)		(667,365	)
SEAHAWK GLOBAL HOLDINGS LLC		11-20094
SEAHAWK DRILLING USA LLC		11-20095
Total Disbursements (same as MOR-1 disbursements)				(14,207,890	)		(9,936,438	)		(30,251,975	)		—		—