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Hercules Offshore, Inc. – ‘8-K’ for 9/20/07 – EX-99.1

On:  Thursday, 9/20/07, at 4:23pm ET   ·   For:  9/20/07   ·   Accession #:  1193125-7-204547   ·   File #:  0-51582

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

 9/20/07  Hercules Offshore, Inc.           8-K:7,9     9/20/07    2:170K                                   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    126K 


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

September 20, 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        Warm Stacked             Repair work through mid-October
2    Hercules 77    THE 77    Submersible, TD    GOM    Plains E&P    87-89    10    09/30/07   
3    Hercules 78    THE 78    Submersible, TD    GOM        Shipyard             Repair work through mid-October
4    Hercules 85    Hercules Rig 15    85'—ILS, TD    GOM    Bois D'Arc
EPL
   59-61
60-62
   21
30
   10/11/07
11/10/07
  
5    Hercules 101    Hercules Rig 20    100'—MC, TD    GOM        Warm Stacked             Replacing electrical (SCR) system through end-October
6    Hercules 120    Hercules Rig 21    120'—MC, TD    GOM    Chevron    67-69    10    09/30/07    Negotiating extension with Chevron
7    Hercules 150    THE 150    150'—ILC, TD    GOM    Century Exploration    65-67    4    09/24/07   
8    Hercules 152    THE 152    150'—MC, TD    GOM        Stacked Ready Apache Corp    54-56    45    09/25/07
11/09/07
  
9    Hercules 153    THE 153    150'—MC, TD    GOM        Warm Stacked             Conducting repairs/crane replacement through end-October
10    Hercules 173    Hercules Rig 22    173'—MC, TD    GOM    Chevron    67-69    10    09/30/07    Negotiating extension with Chevron
11    Hercules 200    THE 200    200'—MC, TD    GOM    W&T Offshore    66-68    40    10/31/07   
12    Hercules 201    THE 201    200'—MC, TD    GOM        Stacked Ready            
13    Hercules 202    THE 202    200'—MC, TD    GOM    El Paso E&P Company L.P.    80-82    10    09/30/07   
14    Hercules 203    THE 203    200'—MC, TD    GOM    Energy XXI    69-71
64-66
   5
90
   09/25/07
12/24/07
  
15    Hercules 204    THE 204    200'—MC, TD    GOM    Apache Corp    115-117    23    10/13/07   
16    Hercules 207    THE 207    200'—MC, TD    GOM    ADTI    69-71    8    09/28/07    Next to Warm Stack
17    Hercules 211    Hercules Rig 11    200'—MC    GOM        Warm Stacked             Conducting repairs/crane replacement through mid-October
18    Hercules 250    THE 250    250'—MS, TD    GOM        Warm Stacked             Repair work through mid-October
19    Hercules 251    THE 251    250'—MS, TD    GOM        Stacked Ready            
20    Hercules 252    THE 252    250'—MS, TD    GOM    Century Exploration    60-62    11    10/01/07   
21    Hercules 253    THE 253    250'—MS, TD    GOM    Bayou Bend    70-72    10    09/30/07    Next to shipyard for repairs through late-October
22    Hercules 257    Hercules Rig 30    250'—MS, TD    GOM        Warm Stacked             Top drive replacement completed mid-September
                  Average    15    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

September 20, 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    211    04/18/08    Down for routine inspection +/—  10 days in early October
2    Hercules 170    Hercules Rig 16    170'—ILC    Qatar    Oxy    68-70    247    05/24/08   
3    Hercules 156    THE 156    150'—ILC, TD    Brazil
Cameroon & Gabon
   El Paso Oil and Gas of Brazil ADDAX    72-74
134-136
   25
180
   10/15/07
05/29/07
   Dry transport to West Africa 11/10—11/30/07 Additional six month option
4    Hercules 185    THE 185    120'—ILC, TD    Angola    Angola Drilling Company Ltd    124-126    365    08/18/08   
5    Hercules 205    THE 205    200'—MC, TD    Mexico        Shipyard
PEMEX
   NA    730    10/22/09    Repairs expected to be completed in October. 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    642    06/23/09   
7    Platform 3    Platform 3    Platform, TD    Mexico    PEMEX    28-30    221    04/28/08   
8    Hercules 258    Hercules Rig 31    250'—MS    India    Cairn    139-141    71    11/30/07    Additional 2 option wells remaining
9    Hercules 208    THE 208    200'—MC    Singapore/
Malaysia
       Shipyard
Murphy
   109-111    1,095    02/01/11    Undergoing significant refurbishment with expected completion in 1Q 2008
10    Hercules 260    Hercules Rig 26    250'—ILC    US GOM/ TBA        Shipyard             Undergoing significant upgrade and refurbishment. Expected completion and commissioning October 2007. Bidding internationally.
                  Average    379    days   
Land Rigs                     
1    Cliffs #36    Cliffs #36    2000 hp, TD    Trinidad        Stacked Ready            
2    Cliffs #37    Cliffs #37    2000 hp, TDr    Venezuela    PDVSA    35-37    207    04/14/08    One year contract renewal executed
3    Cliffs #40    Cliffs #40    2000 hp, TD    Venezuela    PDVSA    35-37    200    04/07/08    One year contract renewal executed
4    Cliffs #42    Cliffs #42    2000 hp, TD    Venezuela    PDVSA    34-36    186    03/24/08    One year contract renewal executed
5    Cliffs #43    Cliffs #43    2000 hp, TDr    Venezuela    PDVSA    35-37    204    04/11/08    One year contract renewal executed
6    Cliffs #54    Cliffs #54    3000 hp, TD    Venezuela    PDVSA    38-40    55    11/14/07    Pending execution of 1 well renewal (6 months duration)
7    Cliffs #55    Cliffs #55    3000 hp, TD    Venezuela    PDVSA    38-40    30    10/20/07    Pending execution of 1 well renewal (6 months duration)
8    Hercules #26    Rig #26    750 hp    Texas        Warm Stacked            
9    Hercules #27    Rig #27    900 hp    Texas    Pogo    14-16    60    11/19/07   
                  Average    105    days   

 

Page 2 of 4


LOGO  

Hercules Offshore

Monthly Rig Status Report

as of

September 20, 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    30    10/20/07    Next to Warm Stack
2    Hercules 09    Rig 09    Posted—2000 hp, TD    US Inland Gulf Coast    Red Willow Offshore, LLC    67-69    170    03/08/08    Additional one year option
3    Hercules 11    Rig 11    Conv—3000 hp, TD    US Inland Gulf Coast    Pel-Tex Oil Co., LLC    39-41    10    09/30/07   
4    Hercules 15    Rig 15    Conv—2000 hp    US Inland Gulf Coast    Swift Energy Company    36-38    6    09/26/07   
5    Hercules 17    Rig 17    Posted—3000 hp, TD    US Inland Gulf Coast    Apache    43-45    25    10/15/07   
6    Hercules 19    Rig 19    Conv—1000 hp    US Inland Gulf Coast    Dune Operating    33-35    50    11/09/07   
7    Hercules 27    Rig 27    Posted—3000 hp, TD    US Inland Gulf Coast    ADTI
Contango
   54-56
58-60
   20
62
   10/10/07
01/08/08
   28 day shipyard planned between wells in Q3
8    Hercules 28    Rig 28    Conv—3000 hp    US Inland Gulf Coast        Warm Stacked            
9    Hercules 29    Rig 29    Conv—3000 hp, TD    US Inland Gulf Coast    Swift Energy Company    38-42    10    09/30/07   
10    Hercules 41    Rig 41    Posted—3000 hp, TD    US Inland Gulf Coast    Castex Energy    45-47    27    10/17/07   
11    Hercules 46    Rig 46    Posted—3000 hp, TD    US Inland Gulf Coast    Hunt Petroleum    40-42    11    10/01/07   
12    Hercules 48    Rig 48    Posted—3000 hp, TD    US Inland Gulf Coast    Maritech Resources    48-50    35    10/25/07   
13    Hercules 49    Rig 49    Posted—3000 hp, TD    US Inland Gulf Coast        Stacked Ready            
14    Hercules 52    Rig 52    Posted—2000 hp, TD    US Inland Gulf Coast    McMoRan    45-47    10    09/30/07   
15    Hercules 55    Rig 55    Posted—3000 hp, TD    US Inland Gulf Coast        Stacked Ready            
16    Hercules 57    Rig 57    Posted—2000 hp, TD    US Inland Gulf Coast    Rosetta    40-42    27    10/17/07   
17    Hercules 64    Rig 64    Posted—3000 hp, TD    US Inland Gulf Coast        Shipyard             Completing hull repair early-October
                  Average    29    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 “Shipyard” are undergoing maintenance, repairs, or upgrades and may or may not be actively marketed depending on the length of stay in the shipyard. Rigs described as “Warm Stacked” may have a reduced number of crew, but only 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.
(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

Liftboat Fleet Status

for the month ended

August 31, 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    $    —      0 %   One vessel in drydock August and September
230    3    3      29,108    93    100 %  
190-215    6    6      20,706    118    63 %   One vessel in drydock in August through mid September, one vessel entering drydock mid-September
170    2    2      19,230    44    71 %   One vessel under repair 10 days
140-150    6    6      10,231    111    60 %   Two vessels in drydock in August, one completing Sept, one completing October
120-130    14    14      8,703    292    67 %   Two vessels in drydock in August, one additional vessel entered drydock late August, three vessels in drydock in September
105    15    14      7,056    276    64 %   Three vessels in drydock in August, three vessels in drydock in September
                              
Sub-total/Average    47    46      12,442    934    65 %  
West Africa                 
170-215    3    2    $ 25,478    62    100 %   One newly acquired vessel under refurbishment
140-150    4    4      12,284    124    100 %  
120-130    7    7      9,640    167    77 %   Three vessels were in drydock in August
105    4    4      12,269    118    95 %  
                              
Sub-total/Average    18    17      13,079    471    89 %  
                              
Total/Average    65    63      12,656    1,405    72 %  

Note:

(1) Actively marketed liftboats excludes one GOM cold-stacked 105' class liftboat, and one West Aftrica 170-215' class which was acquired in June 2007 undergoing refurbishment until mid-Q1 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.

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 4 of 4


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on / For Period End:9/20/074,  8-K
8/31/074
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