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Hercules Offshore, Inc. – ‘8-K’ for 7/18/07 – EX-99.1

On:  Wednesday, 7/18/07, at 5:26pm ET   ·   For:  7/18/07   ·   Accession #:  1193125-7-157357   ·   File #:  0-51582

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/18/07  Hercules Offshore, Inc.           8-K:7,9     7/18/07    2:190K                                   RR Donnelley/FA

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     19K 
 2: EX-99.1     Hercules Offshore Fleet Status Report               HTML    143K 


EX-99.1   —   Hercules Offshore Fleet Status Report


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  Hercules Offshore Fleet Status Report  

Exhibit 99.1

 

LOGO  

Hercules Offshore

Monthly Rig Status Report

as of

July 18, 2007

 

 

   

Future

Rig Name

 

Current Name

 

Rig Type

  Location  

Customer / Status (1)

  Contract (2)
Dayrate ($000s)
  Est. Duration (3)  

Comments

              Days   Date  
Domestic Offshore

1

 

Hercules 75

 

THE 75

 

Submersible, TD

  GOM   Phoenix Exploration   70-72   25   08/12/07  

2

 

Hercules 77

 

THE 77

 

Submersible, TD

  GOM   Plains E&P   87-89   28   08/15/07  

3

 

Hercules 78

 

THE 78

 

Submersible, TD

  GOM  

Shipyard

        Undergoing maintenance through mid-September

4

 

Hercules 85

 

Hercules Rig 15

 

85' -ILS, TD

  GOM   Bois D'Arc   59-61   23   08/10/07  

5

 

Hercules 101

 

Hercules Rig 20

 

100' -MC, TD

  GOM  

Stacked Ready

        Energy XXI work postponed

6

 

Hercules 120

 

Hercules Rig 21

 

120' - MC, TD

  GOM   Chevron   67-69   74   09/30/07  

7

 

Hercules 150

 

THE 150

 

150' - ILC, TD

  GOM   Century Exploration   65-67   13   07/31/07  

8

 

Hercules 152

 

THE 152

 

150' - MC, TD

  GOM   ADTI   60-62   13   07/31/07  

9

 

Hercules 153

 

THE 153

 

150' - MC, TD

  GOM   Stacked Ready        

10

 

Hercules 173

 

Hercules Rig 22

 

173' - MC, TD

  GOM   Chevron   67-69   74   09/30/07  

11

 

Hercules 200

 

THE 200

 

200' - MC, TD

  GOM   Hunt Oil   70-72   22   08/09/07  

12

 

Hercules 201

 

THE 201

 

200' - MC, TD

  GOM   Royal Production   75-77
80-82
  8
19
  07/26/07
08/06/07
 

13

 

Hercules 202

 

THE 202

 

200' - MC, TD

  GOM   El Paso E&P Company   80-82   31   08/18/07  

14

 

Hercules 203

 

THE 203

 

200' - MC, TD

  GOM   Energy XXI   69-71   69   09/25/07  

15

 

Hercules 204

 

THE 204

 

200' - MC, TD

  GOM   Apache Corp   115-117   87   10/13/07  

16

 

Hercules 207

 

THE 207

 

200' - MC, TD

  GOM   ADTI   69-71   12   07/30/07  

17

 

Hercules 211

 

Hercules Rig 11

 

200' - MC

  GOM  

Palm Energy

W&T Offshore

  54-56
54-56
  24
14
  08/11/07
08/25/07
 

18

 

Hercules 250

 

THE 250

 

250' - MS, TD

  GOM   Peregrine   65-67   42   08/29/07  

19

 

Hercules 251

 

THE 251

 

250' - MS, TD

  GOM   ADTI   70-72   8   07/26/07  

20

 

Hercules 252

 

THE 252

 

250' - MS, TD

  GOM   Arena Offshore   84-86   3   07/21/07  

21

 

Hercules 253

 

THE 253

 

250' - MS, TD

  GOM   Medco Energy   80-82   7   07/25/07  

22

 

Hercules 257

 

Hercules Rig 30

 

250' - MS, TD

  GOM   ADTI/Helis   84-86   32   08/19/07   Scheduled 15 days in shipyard in August for top drive replacement
            Average   29   days  

23

 

Hercules 155

 

THE 155

 

150' - ILC

  GOM  

Cold Stacked 07/01

       

24

 

Hercules 191

 

THE 191

 

160' - MS

  GOM  

Cold Stacked 08/01

       

25

 

Hercules 254

 

THE 254

 

250' - MS

  GOM  

Cold Stacked 07/01

       

26

 

Hercules 255

 

THE 255

 

250' - MS

  GOM  

Cold Stacked 07/01

       

27

 

Hercules 256

 

THE 256

 

250' - MS, TD

  GOM  

Cold Stacked 03/99

       

 

Page 1 of 4


LOGO  

Hercules Offshore

Monthly Rig Status Report

as of

July 18, 2007

 

 

   

Future
Rig Name

  

Current Name

  

Rig Type

  

Location

  

Customer / Status (1)

  

Contract (2)

Dayrate ($000s)

   Est. Duration (3)   

Comments

                    Days    Date   

International Offshore

                    
1   Hercules 110    THE 110    100' - MC, TD    Trinidad    Trinmar    51-53    275    04/18/08   

2

  Hercules 170    Hercules Rig 16    170' - ILC    Qatar    Oxy    68-70    311    05/24/08   
3   Hercules 156    THE 156    150' - ILC, TD    Brazil    El Paso Oil and Gas of Brazil    72-74    89    10/15/07    Dry transport to West Africa 10/16 -11/5/07
           Cameroon & Gabon   

ADDAX

   134-136    180    05/22/08    Six month option at $149-$151K
4   Hercules 185    THE 185    120' - ILC, TD    Angola    Angola Drilling Company Ltd    58-60    32    08/19/07   
                 124-126    365    08/18/08   
5   Hercules 205    THE 205    200' - MC, TD    Mexico        Shipyard    NA    730    10/22/09    Repairs expected to be completed in October
             

PEMEX

            Dayrate adjusts quarterly to published GOM index for 200' Mat Cantilever + $20,000
6   Hercules 206    THE 206    200' - MC, TD    Mexico    PEMEX    111-113    706    06/23/09   
7   Platform 3    Platform 3    Platform, TD    Mexico    PEMEX    28-30    285    04/28/08   
8   Hercules 258    Hercules Rig 31    250' - MS    India    Cairn    139-141    75    10/01/07    Additional 3 option wells at $139-$141K remaining
9   Hercules 208    THE 208    200' - MC    Singapore/        Shipyard             Undergoing
           Malaysia    Murphy    109-111    1,095    02/01/11   

significant refurbishment with expected

completion in January 2008

10

  Hercules 260    Hercules Rig 26    250' - ILC    US GOM/ TBA        Shipyard             Undergoing significant upgrade and refurbishment. Expected completion and commissioning mid-August 2007. Bidding internationally.
                 Average    414 days      

Land Rigs

1   Cliffs #36    Cliffs #36    2000 hp, TD    Trinidad    Talisman Trinidad    31-33    44    08/31/07   
2   Cliffs #37    Cliffs #37    2000 hp, TDr    Venezuela    PDVSA    35-37    271    04/14/08    Execution of one year term contract pending
3   Cliffs #40    Cliffs #40    2000 hp, TD    Venezuela    PDVSA    35-37    264    04/07/08    Execution of one year term contract pending
4   Cliffs #42    Cliffs #42    2000 hp, TD    Venezuela    PDVSA    34-36    250    03/24/08    Execution of one year term contract pending
5   Cliffs #43    Cliffs #43    2000 hp, TDr    Venezuela    PDVSA    35-37    268    04/11/08    Execution of one year term contract pending
6   Cliffs #54    Cliffs #54    3000 hp, TD    Venezuela    PDVSA    38-40    94    10/20/07    Execution of one year term contract pending
7   Cliffs #55    Cliffs #55    3000 hp, TD    Venezuela    PDVSA    38-40    129    11/24/07    Execution of one year term contract pending
8   Hercules #26    Rig #26    750 hp    Texas        Stacked Ready            
9   Hercules #27    Rig #27    900 hp    Texas    Dewbre Petroleum    13-15    2    07/20/07   
                 Average    147 days      

 

Page 2 of 4


LOGO  

Hercules Offshore

Monthly Rig Status Report

as of

July 18, 2007

 

 

    

Future

Rig Name

  

Current Name

  

Rig Type

  

Location

  

Customer / Status (1)

   Contract (2)
Dayrate ($000s)
   Est. Duration (3)   

Comments

                     Days    Date   
US Inland Barges
1    Hercules 01    Rig 01    Conv - 2000 hp    US Inland Gulf Coast    Maritech Resources Inc.    35-37    43    08/30/07   
2    Hercules 09    Rig 09    Posted - 2000 hp, TD    US Inland Gulf Coast    Red Willow Offshore, LLC    67-69    234    03/08/08   
3    Hercules 11    Rig 11    Conv - 3000 hp, TD    US Inland Gulf Coast    Pel-Tex Oil Co., LLC    39-41    43    08/30/07   
4    Hercules 15    Rig 15    Conv - 2000 hp    US Inland Gulf Coast    Swift Energy Company    36-38    26    08/13/07   
5    Hercules 17    Rig 17    Posted - 3000 hp, TD    US Inland Gulf Coast   

Stacked Ready

           
6    Hercules 19    Rig 19    Conv - 1000 hp    US Inland Gulf Coast   

Stacked Ready

           
7    Hercules 27    Rig 27    Posted - 3000    US Inland    ADTI    58-60    1    07/19/07   
         hp, TD    Gulf Coast    Contango    58-60    121    12/15/07    28 day shipyard planned between wells in Q3
8    Hercules 28    Rig 28    Conv - 3000 hp    US Inland Gulf Coast    Phoenix Exploration    33-35    48    09/04/07   
9    Hercules 29    Rig 29    Conv - 3000 hp, TD    US Inland Gulf Coast    Kriti Exploration, Inc.    44-46    5    07/23/07   
10    Hercules 41    Rig 41    Posted - 3000 hp, TD    US Inland Gulf Coast    Castex Energy    45-47    17    08/04/07   
11    Hercules 46    Rig 46    Posted - 3000 hp, TD    US Inland Gulf Coast   

Stacked Ready

      30    08/20/07    Next to Hunt for 30 days on 7/21 at $40-$42K
12    Hercules 48    Rig 48    Posted - 3000 hp, TD    US Inland Gulf Coast    Energy XXI    47-49    43    08/30/07   
13    Hercules 49    Rig 49    Posted - 3000 hp, TD    US Inland Gulf Coast    Energy XXI    42-44    32    08/19/07   
14    Hercules 52    Rig 52    Posted - 2000 hp, TD    US Inland Gulf Coast    Summit Energy    51-53    28    08/15/07   
15    Hercules 55    Rig 55    Posted - 3000 hp, TD    US Inland Gulf Coast   

Stacked Ready

            Rig completed previous work on 7/16
16    Hercules 57    Rig 57    Posted - 2000 hp, TD    US Inland Gulf Coast   

Rozel Operating Company

Boss E&P

   45-47

42-44

   8
48
   07/26/07
09/04/07
  
17    Hercules 64    Rig 64    Posted - 3000 hp, TD    US Inland Gulf Coast    Denbury Onshore LLC    41-43    7    07/25/07   
                  Average    43    days   
18    Hercules 07    Rig 07    Posted - 2000 hp    US Inland Gulf Coast   

Cold Stacked 03/02

           

19

   Hercules 10    Rig 10    Posted - 2000 hp    US Inland Gulf Coast   

Cold Stacked 03/02

           

20

   Hercules 20    Rig 20    Conv - 1000 hp    US Inland Gulf Coast   

Cold Stacked 09/03

           

21

   Hercules 21    Rig 21    Conv - 1500 hp    US Inland Gulf Coast   

Cold Stacked 07/99

           

22

   Hercules 23    Rig 23    Conv - 1000 hp    US Inland Gulf Coast   

Cold Stacked 03/02

           

23

   Hercules 30    Rig 30    Conv - 3000 hp    US Inland Gulf Coast   

Cold Stacked 03/02

           

24

   Hercules 31    Rig 31    Conv - 3000 hp    US Inland Gulf Coast   

Cold Stacked 03/02

           

25

   Hercules 32    Rig 32    Conv - 3000 hp    US Inland Gulf Coast   

Cold Stacked 12/03

           

26

   Hercules 47    Rig 47    Posted - 3000 hp    US Inland Gulf Coast   

Cold Stacked 02/98

           

27

   Hercules 61    Rig 61    Posted - 3000 hp    US Inland Gulf Coast   

Cold Stacked 02/98

           

(1) Rigs with a Customer named are under contract while rigs described as "Stacked Ready" are not under contract but generally are 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.
(2) Contract dayrates shown in the table above are contract operating dayrates and, in certain cases under our Inland Barge contracts, include revenue for other vessels and services provided by Delta Towing. These rates do not include lump sum amounts reimbursable from the client, bonuses that are considered revenue under generally accepted accounting principles, or revenue already included in other Hercules business segments.
(3) Estimated contract duration is an estimate based on current belief by our customer as to the remaining days to complete the project.

 

Page 3 of 4


LOGO  

Hercules Offshore

Monthly Rig Status Report

as of

July 18, 2007

 

 

                               Est Duration (3)     

Future Rig Name

  

Current Name

  

Rig Type

   Location   

Customer / Status (1)

  

Contract (2)

Dayrate ($000s)

   Days    Date   

Comments

Changes from last report are highlighted

 

Page 4 of 4


LOGO  

Hercules Offshore

Liftboat Fleet Status

for the month ended

June 30, 2007

 

 

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

                

260

   1    1    $ 33,428    30    100 %   One vessel in drydock beginning mid-July.

230

   3    3      28,058    58    64 %   One vessel in for repairs through mid-July.

190-215

   6    6      21,862    155    86 %   One vessel in drydock in June.

170

   2    2      18,176    24    40 %   One vessel in for repairs May through mid-July (4).

140-150

   6    6      10,155    131    73 %   Two vessels in drydock in June and two in July.

120-130

   14    14      8,539    228    54 %   Seven vessels in drydock during June, five vessels in drydock in July, one of which is arriving late July.

105

   15    14      7,218    327    78 %   One vessel in drydock in June, two vessels in July.
                              

Sub-total/Average

   47    46      12,689    953    69 %  

West Africa

                

170-215

   3    2    $ 22,952    60    100 %   One vessel on standby from early May until late June, when it returned to full rate(5). One vessel under contract until August 07 and one vessel under contract until April 08. One undergoing refurbishment until January 08.

140-150

   4    4      9,744    90    75 %   One vessel in drydock mid-May through June. Two vessels on standby from early May until late June, when they returned to full rate(5). One vessel under contract until July 08 and two through August 07.

120-130

   7    7      8,395    168    80 %   Two vessels in drydock in June. Four vessels on standby from early May until late June, when they returned to full rate(5). Two vessels under contract through July 08 and one through August 07.

105

   4    4      10,965    92    77 %   Two vessels on standby from early May until late June when they returned to full rate(5).
                              

Sub-total/Average

   18    17      11,398    410    80 %  
                              

Total/Average

   65    63      12,301    1,363    72 %  

Note:

(1) Actively marketed liftboats excludes one GOM cold-stacked 105' class liftboat that is undergoing refurbishment until September 2007, and one West Africa 170-215' class which was acquired in June 2007 undergoing refurbishment until January 2008.
(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) Second quarter operating expenses will include a $1 million insurance deductible for damage to the Mako.
(5) Nigeria vessels on standby returned to full contract rate at approximately the end of June.

The information herein contains 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. 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, operational difficulties, shipyard and other delays and other factors described in Hercules' 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. Hercules 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 1 of 1


Dates Referenced Herein   and   Documents Incorporated by Reference

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