Past year: ▼ 95%(5.90c – 1.24 USD)
Each one in plain English, with the numbers worked through for a shareholder.
15 June 2006production update▲ Good
Rig 20 moved to a new customer at a much higher dayrate (from $84-86K to $114-116K) and the Qatar rig's rate stepped up again, even as the growing liftboat fleet had to temporarily hot-stack some vessels for lack of available crews.
14 June 2006material agreement▲ GoodMajor
Hercules tripled its revolving credit line to $75 million, cut its interest rate and pushed the maturity out to 2010, replacing prior investment caps with a collateral-coverage test -- a sign lenders were comfortable extending more capacity as the company's acquisition-driven growth continued.
19 May 2006production update▲ Good
Rig 31 landed its first contract after refurbishment, a seven-well award from Cairn in Asia at $110-140K per well.
5 May 2006material agreement● Neutral
Hercules signed a two-year employment contract for Randal Reed, president of its liftboat subsidiary, with a $170,000 base salary and standard severance terms -- routine management housekeeping.
1 May 2006production update▲ Good
Two rigs finished shipyard upgrades and immediately landed new firm contracts at roughly double their prior dayrates (~$79-81K), and Rig 16 signed a two-year Qatar contract with Occidental -- a strong quarter for re-contracting.
1 May 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director John T Reynolds received 2,000 shares as part of the equity award.
1 May 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Steven A Webster received 2,000 shares as part of the equity award.
1 May 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Madonna Thomas J received 2,000 shares as part of the equity award.
1 May 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director F Gardner Parker received 2,000 shares as part of the equity award.
1 May 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Pottow V Frank received 2,000 shares as part of the equity award.
1 May 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Thomas R Jr. Bates received 2,000 shares as part of the equity award.
26 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. 10%+ owner Greenhill Capital Partners, LLC sold 348,608 shares at $36.00.
24 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP & COO Hercules Drilling Co Hord Thomas E sold 6,332 shares at $34.38.
24 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Steven A Webster sold 78,379 shares.
24 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. 10%+ owner Lr Hercules Holdings, LP sold 697,217 shares at $36.00.
20 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. 10%+ owner Lr Hercules Holdings, LP sold 3,718,493 shares at $36.00.
19 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. 10%+ owner Greenhill Capital Partners, LLC sold 1,859,247 shares at $36.00.
18 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP & COO Hercules Drilling Co Hord Thomas E sold 33,771 shares at $34.38.
18 Apr 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Steven A Webster sold 418,019 shares.
12 Apr 2006securities registration● Neutral
HERCULES OFFSHORE, INC. filed the final prospectus for a registered offering.
11 Apr 2006securities registration● Neutral
HERCULES OFFSHORE, INC. amended a filing by which it registered a securities offering with the SEC.
7 Apr 2006material agreement● Neutral
Hercules signed standard indemnification agreements with CEO Randall Stilley and its non-employee directors -- routine post-IPO governance paperwork with no operational impact.
4 Apr 2006material agreement▲ GoodMajor
Hercules agreed to buy five more liftboats (plus one under construction) from Laborde Marine Lifts for $52 million, its second liftboat-fleet purchase in six months.
4 Apr 2006securities registration● Neutral
HERCULES OFFSHORE, INC. amended a filing by which it registered a securities offering with the SEC.
27 Mar 2006securities registration● Neutral
HERCULES OFFSHORE, INC. registered a securities offering with the SEC.
17 Mar 2006production update▲ Good
Rigs coming out of shipyard repairs re-priced at notably higher indexed dayrates (one jumping to $87-89K), continuing the rate upcycle.
15 Feb 2006production update▲ Good
Dayrates began climbing across the GOM jackup fleet (one rig's rate jumping from $68-70K to $84-86K), and a newly acquired rig (Rig 26) entered the fleet for refurbishment -- early signs of the mid-2000s jackup upcycle.
30 Jan 2006material agreement● Neutral
Hercules loosened its senior credit agreement to allow more investment in its Cayman/Nigeria subsidiaries, and separately agreed to buy the jackup rig Aries for $20.1 million after it had sat cold-stacked for six years -- continued fleet growth funded within its existing credit line.
18 Jan 2006production update● Neutral
Fleet largely unchanged month over month; liftboat utilization ticked up to 88%, and the Katrina-damaged liftboat remained unresolved pending insurance.
19 Dec 2005production update● Neutral
Hercules's first monthly Fleet Status Report: its Gulf of Mexico jackups were mostly under contract at $52-70K dayrates, two rigs sat in shipyard for repairs, and its newly acquired liftboat fleet ran 85% utilized -- while the liftboat severely damaged in Hurricane Katrina still awaited an insurance assessment.
