Past year: ▼ 95%(5.90c – 1.24 USD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Nov 2006asset acquisition disposition▲ GoodMajor
Hercules closed the Halliburton liftboat purchase at $51.6 million, adding 13 liftboats and a Nigeria shore base through new subsidiary Hercules Oilfield Services -- completing its second major West Africa expansion in a year.
7 Nov 2006securities registration● Neutral
HERCULES OFFSHORE, INC. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
3 Nov 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP Finance, Hercules Liftboat Pitre Renee M exercised stock options for 3,203 shares and disposed of 6,406 shares.
3 Nov 2006material agreement● Neutral
Hercules replaced individual executive contracts with a unified set of employment agreements for CEO Randall Stilley, drilling president John Rynd, CFO Steven Manz, liftboat president Randal Reed and general counsel James Noe, setting updated salaries, bonus targets and 2-3x severance formulas -- standard post-IPO executive-comp housekeeping, not a leadership change.
3 Nov 2006capital raising announcement● Neutral
Hercules's pre-IPO private-equity sponsors (Greenhill Capital Partners and LR-Hercules Holdings) exercised their registration rights to force a public resale of 7.5 million shares -- the sponsors beginning to cash out, not new capital coming into the company.
2 Nov 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP- Corporate Controller Vincent Johnny K exercised stock options for 5,000 shares and disposed of 10,000 shares.
2 Nov 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. Vice President Human Resources Taylor Leslie K exercised stock options for 3,000 shares and disposed of 6,000 shares.
2 Nov 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. Sr. VP Hercules Offshore Rynd John T had 6,242 shares withheld for taxes on vesting stock.
26 Oct 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP Finance, Hercules Liftboat Pitre Renee M exercised stock options for 16,666 shares and disposed of 33,332 shares.
26 Oct 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. Chief Financial Officer Manz Steven A exercised stock options for 50,000 shares and disposed of 100,000 shares.
26 Oct 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP, General Counsel, CCO, Sec. Noe James William exercised stock options for 6,250 shares and disposed of 12,500 shares.
25 Oct 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP- Corporate Controller Vincent Johnny K exercised stock options for 5,000 shares and disposed of 10,000 shares.
17 Oct 2006production update▲ Good
Rig 31 began drilling in India at $109-111K, and the Nigeria liftboats renewed their Chevron contract with roughly a 30% dayrate increase -- continued pricing strength across the international fleet.
16 Oct 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP Finance, Hercules Liftboat Pitre Renee M exercised stock options for 11,667 shares and disposed of 23,334 shares.
11 Oct 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. VP Finance, Hercules Liftboat Pitre Renee M exercised stock options for 11,667 shares and disposed of 23,334 shares.
26 Sept 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. CEO and President Randall D Stilley bought 5,000 shares on the open market.
18 Sept 2006production update● Neutral
Rig 31 was in transit to India for its new contract; liftboat utilization slipped to 74% amid continued crew-driven hot-stacking.
7 Sept 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. Vice President Human Resources Taylor Leslie K exercised stock options for 6,000 shares and disposed of 12,000 shares.
24 Aug 2006material agreement▲ GoodMajor
Hercules agreed to buy 8 more liftboats from Halliburton's West Africa operations (plus rights to 5 managed vessels and a Nigeria shore base) for about $50 million plus a three-year earnout, extending its West Africa liftboat push begun with the 2005 Danos deal.
16 Aug 2006production update▲ Good
Rig 20's new Energy XXI contract at $114-116K took effect, and the liftboat fleet grew to 51 vessels as recent acquisitions were fully absorbed.
14 Aug 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Thierry Pilenko received 866 shares as part of the equity award.
18 July 2006production update● Neutral
The Rig 26 upgrade scope grew again, pushing its estimated cost to $35-40 million, while crew shortages kept forcing liftboats to hot-stack temporarily.
23 June 2006director interest notice● Neutral
HERCULES OFFSHORE, INC. director Madonna Thomas J bought 1,000 shares on the open market at $30.59.
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.
