2 Feb 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. Sr VP, GC, CCO & Secretary Cestero Alejandro sold 1,511 shares at $7.13.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. President and CEO Randall D Stilley sold 6,810 shares at $7.13.
2 Feb 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. VP & Chief Accounting Officer William G. Evans sold 1,104 shares at $7.13.
18 Jan 2011production update▼ Bad
Fleet report as of January 18, 2011: the report says the condition for the Essar sale of Seahawk 2505 was not met, and the rig is now being marketed for sale to other parties. This ends the $14.55 million Essar deal described in the October 2010 agreement. Seahawk 3000's Energy XXI job ends Jan 20, followed by Badger to Mar 1 and Arena (120 days, $60,000) to Jun 29, 2011. Seahawk 2600 adds an LLOG job at $46,000 (permit pending), and 2004 has Walter Oil & Gas work at $35,000 and a further 60 days with the rate to be agreed.
4 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. director Richard J Alario received 2,601 shares as part of the equity award.
4 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. director John T III Nesser received 3,204 shares as part of the equity award.
4 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. VP & Chief Accounting Officer William G. Evans sold 357 shares at $8.52.
4 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. Sr VP, GC, CCO & Secretary Cestero Alejandro sold 671 shares at $8.52.
3 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. director Edmund P III Segner received 2,930 shares as part of the equity award.
3 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. President and CEO Randall D Stilley sold 11,672 shares at $8.91.
3 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. director Stephen A Snider received 2,738 shares as part of the equity award.
3 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. director Mark E Baldwin received 1,917 shares as part of the equity award.
3 Jan 2011director interest notice● Neutral
SEAHAWK DRILLING, INC. director Franklin Myers received 3,204 shares as part of the equity award.
16 Dec 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. Sr VP, GC, CCO & Secretary Cestero Alejandro sold 418 shares at $8.20.
16 Dec 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. VP & Chief Accounting Officer William G. Evans sold 74 shares at $8.06.
8 Dec 2010production update● Neutral
Fleet report as of December 8, 2010 lists nine marketed rigs and eleven cold stacked. Seahawk 3000 is finalizing repairs, with the Energy XXI contract expected to start in late December, followed by Badger (40 days, $55,000) and Arena (120 days, $60,000, permits pending). Seahawk 2602 started the Arena job on Dec 2, 2600 started Tarpon on Nov 21, 2007 started Castex on Dec 8, and 2001 is now contracted to ENI at $32,000 for 30 days with its permit pending. The 2505 sale to Essar for $14.55 million is still shown as contingent on a third-party contract award.
8 Nov 2010production update● Neutral
Fleet report as of November 8, 2010: Seahawk 2601 moved from Hilcorp to Chevron at $45,550 a day (current job started October 15, with three more Chevron contracts being finalized), and 2602 is substituted for 2500 on the Arena contract at $40,000. Seahawk 2001 is available after its Petroquest job ended, 2004 is working for Walter Oil & Gas at $32,000, and 2505 is still available with its $14.55 million sale pending a third-party contract award; Seahawk 3000's Energy XXI work is now deferred to December 2010.
8 Oct 2010substantial holder notice● Neutral
Artisan Partners Holdings LP, Artisan Investment Corporation, Artisan Partners Limited Partnership, Artisan Investments GP LLC, ZFIC, Inc., Andrew A. Ziegler, Carlene M. Ziegler, Artisan Funds, Inc. reported a SEAHAWK DRILLING, INC. shareholding of 472,702 shares (4.00% of votes) in a periodic institutional filing.
6 Oct 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. director Stephen A Snider received 2,955 shares as part of the equity award.
6 Oct 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. director Franklin Myers received 3,251 shares as part of the equity award.
6 Oct 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. director John T III Nesser received 3,517 shares as part of the equity award.
5 Oct 2010material agreement● NeutralMajor
On September 29, 2010 a Seahawk subsidiary agreed to sell the available rig Seahawk 2505 to Essar Oilfield Services India Ltd. for $14,550,000, against a net book value of about $42.5 million at August 31, 2010. Closing depends on Essar winning a contract by February 8, 2011 under a tender it submitted to a third party; if it closes, Seahawk is also to be paid $135,000 plus costs and 15% for assistance and training. The sale price is well below the rig's book value (a factual comparison from the filing).
5 Oct 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. director Richard J Alario received 2,866 shares as part of the equity award.
5 Oct 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. director Mark E Baldwin received 2,305 shares as part of the equity award.
5 Oct 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. director Edmund P III Segner received 3,398 shares as part of the equity award.
24 Sept 2010production update● Neutral
Fleet report as of September 24, 2010: eight rigs are listed as marketed, six contracted (2602 Energy XXI, 2601 Hilcorp, 2600 Tarpon, 2007 Breton, 2004 Bandon, 2001 Medco then Petroquest at $32,000), all permitted, with 2504 and 2505 available. Seahawk 3000 and 2500 stay cold stacked with their contracts deferred.
1 Sept 2010debt financing● NeutralMajor
On September 1, 2010 the company borrowed about $11.5 million under its August 2009 revolving credit agreement (Natixis, New York Branch as agent), at an expected 6.75% interest, and will add about $2.3 million of cash to pay for work on Seahawk 3000. The company expects that work to finish in the second or third week of November 2010, after which the rig is to start its roughly 197 days of contracted backlog, pending permits; this follows the earlier Seahawk 3000 jacking damage.
1 Sept 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. Sr VP and COO Hoffman William Conrad sold 11,322 shares at $7.27.
26 Aug 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. President and CEO Randall D Stilley sold 12,705 shares at $7.47.
26 Aug 2010director interest notice● Neutral
SEAHAWK DRILLING, INC. Sr VP, GC, CCO & Secretary Cestero Alejandro sold 1,466 shares at $7.47.