29 Apr 2011quarterly activities report▼ Bad
HERCULES OFFSHORE, INC. reported a quarterly net loss of $14.2 million for the period ended 2011-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Apr 2011agm notice● Neutral
HERCULES OFFSHORE, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
28 Apr 2011quarterly activities report▼ Bad
HERCULES OFFSHORE, INC. reported a quarterly net loss of $14.2 million for the period ended 2011-03-31.
27 Apr 2011asset acquisition disposition▲ GoodMajor
Hercules closed its acquisition of Seahawk Drilling's 20 Gulf of Mexico jackup rigs, funded with about 22.3 million new Hercules shares plus roughly $25 million cash -- completing the consolidation of a bankrupt competitor's fleet.
27 Apr 2011production update▲ Good
Chevron extended a rig through year-end with two six-month options and agreed to reimburse $3.3 million in repair costs, and Hercules signed a letter of intent for new work in Congo with Perenco at $66-68K -- international diversification continuing.
5 Apr 2011material agreement▲ Good
The bankruptcy court approved Hercules's purchase of Seahawk Drilling's jackup fleet, clearing a key condition for the deal to close.
25 Mar 2011agm notice● Neutral
HERCULES OFFSHORE, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
25 Mar 2011agm notice● Neutral
HERCULES OFFSHORE, INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
22 Mar 2011production update● Neutral
Several rigs cycled through scheduled five-year regulatory recertification surveys while dayrates held in the $32-38K range; Gulf of Mexico permit delays remained a standing risk factor.
14 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. director F Gardner Parker bought 7,000 shares on the open market at $5.73.
9 Mar 2011quarterly activities report▼ Bad
HERCULES OFFSHORE, INC. reported a quarterly net loss of $14.2 million for the period ended 2011-03-31.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Sr. VP, Gen. Counsel, CCO Noe James William received 55,815 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. VP, Worldwide Liftboat Ops. Pellegrin Todd received 27,908 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Vice President-Worldwide Ops Carr Terrell L received 55,815 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. President, Hercules Int'l Rodney Don P received 10,000 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. CEO & President Rynd John T received 93,026 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Sr. VP, CFO and Treasurer Butz Stephen M received 55,815 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. VP, Human Resources Lisa W Rodriguez received 22,326 shares as part of the equity award.
8 Mar 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Chief Accounting Officer Carson Troy L received 22,326 shares as part of the equity award.
8 Mar 2011debt financing▼ Bad
To help fund the Seahawk acquisition, Hercules amended its credit agreement, but lenders used the opening to cut its revolving credit line from $175 million to $140 million and raise its borrowing rates -- credit terms tightening even as the deal moved forward.
16 Feb 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Vice President-Worldwide Ops Carr Terrell L had 4,291 shares withheld for taxes on vesting stock.
16 Feb 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. VP, Worldwide Liftboat Ops. Pellegrin Todd had 246 shares withheld for taxes on vesting stock.
16 Feb 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Sr. VP, CFO and Treasurer Butz Stephen M had 399 shares withheld for taxes on vesting stock.
16 Feb 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Sr. VP, Gen. Counsel, CCO Noe James William had 5,167 shares withheld for taxes on vesting stock.
16 Feb 2011production update▲ Good
Hilcorp extended at a higher $39-41K dayrate and the Chevron-contracted barge rig locked in a long-term rate of $73-75K -- the rate recovery continuing into 2011.
16 Feb 2011director interest notice● Neutral
HERCULES OFFSHORE, INC. Chief Accounting Officer Carson Troy L had 235 shares withheld for taxes on vesting stock.
11 Feb 2011capital raising announcement▲ GoodMajor
Hercules agreed to buy all 20 jackup rigs of rival Seahawk Drilling out of Chapter 11 bankruptcy for $100 million ($25 million cash plus 22.3 million Hercules shares valued at just $3.36 each, versus the $33.95 it had paid for its own stock in 2008) -- consolidating the jackup market as a weaker competitor failed, while also flagging a non-cash impairment on its own cold-stacked rigs amid the post-Macondo drilling slowdown.
10 Feb 2011substantial holder notice● Neutral
THE VANGUARD GROUP, INC. disclosed a new substantial HERCULES OFFSHORE, INC. shareholding (5.18% of votes).
4 Feb 2011substantial holder notice● Neutral
BlackRock, Inc reported a HERCULES OFFSHORE, INC. shareholding of 7,152,418 shares (6.23% of votes) in a periodic institutional filing.
12 Jan 2011production update▲ Good
Chevron's rate stepped up again (to $35-37K, extended to mid-2011) and rigs began five-year regulatory recertification surveys -- continued gradual normalization.