Exhibit 99.2
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 1 of 39
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month.
REQUIRED DOCUMENTS | Form No. | Document Attached | Explanation Attached | |||
| Schedule of Cash Receipts and Disbursements | MOR-1 | Yes | ||||
| Bank Reconciliation (or copies of debtor’s bank reconciliations) | MOR-1 (CON’T) | Yes | ||||
| Schedule of Professional Fees Paid | MOR-lb | Yes | ||||
Copies of bank statements | No | Note 1 | ||||
Cash disbursements journals | No | Note 1 | ||||
| Statement of Operations | MOR-2 | Yes | ||||
| Balance Sheet | MOR-3 | Yes | ||||
| Status of Post-petition Taxes | No | Note 2 | ||||
Copies of IRS Form 6123 or payment receipt | No | Note 1 | ||||
Copies of tax returns filed during reporting period | No | Note 1 | ||||
| Summary of Unpaid Post-petition Debts | MOR-4 | Yes | ||||
Listing of Aged Accounts Payable | MOR-4 | Yes | ||||
| Accounts Receivable Reconciliation and Aging | MOR-5 | Yes | ||||
| Debtor Questionnaire | MOR-5 | Yes |
| (1) | Due to the system constraints and/or the volume of the records, no attachment is provided, but is available to the UST upon request. |
| (2) | The Company is current on all tax payments. |
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.
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| Signature of Debtor | Date | |||
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| Signature of Joint Debtor | Date | |||
/s/ Troy Carson | 9/20/16 | |||
| Signature of Authorized Individual* | Date | |||
/s/ Troy Carson | CFO | |||
| Printed Name of Authorized Individual | Title of Authorized Individual | |||
| * | Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 2 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-1: SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
HERCULES OFFSHORE, INC., ET AL. DEBTOR
| Current Month | Cumulative Filing to Date | |||||||||||||||
| Actual | Projected1 | Actual | Projected1 | |||||||||||||
Beginning Cash | $ | 152,435,848 | $ | 144,270,569 | $ | 207,705,799 | $ | 208,311,591 | ||||||||
RECEIPTS | ||||||||||||||||
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Total Receipts | 3,591,600 | 2,977,816 | 10,590,471 | 9,449,131 | ||||||||||||
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DISBURSEMENTS | ||||||||||||||||
Personnel Costs | 4,665,333 | 5,974,792 | 16,152,406 | 18,640,620 | ||||||||||||
Premises Rents | 196,345 | 282,800 | 595,191 | 756,100 | ||||||||||||
Insurance | 35,000 | — | 5,261,698 | 3,384,112 | ||||||||||||
Taxes | 245,259 | 97,260 | 254,001 | 240,414 | ||||||||||||
Utilities | 88,527 | 129,556 | 310,626 | 343,529 | ||||||||||||
Vendors and Others | 639,849 | 3,378,765 | 2,821,618 | 9,946,706 | ||||||||||||
Ordinary Course Professional Fees | 167,358 | 334,100 | 394,088 | 668,200 | ||||||||||||
Restructuring Professional Fees2 | 2,170,789 | 855,000 | 3,609,065 | 1,760,000 | ||||||||||||
U.S. Trustee Quarterly Fees | — | — | 88,575 | — | ||||||||||||
Adequate Protection Debt and Assurance | 3,280,542 | 3,107,490 | 48,956,341 | 48,932,421 | ||||||||||||
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Total Disbursements | 11,489,001 | 14,159,764 | 78,443,609 | 84,672,101 | ||||||||||||
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CASH INTERNAL TRANSFER | ||||||||||||||||
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Total Internal Transfer | 872,411 | — | 5,558,198 | — | ||||||||||||
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Net Cash Flow | (7,024,990 | ) | (11,181,948 | ) | (62,294,941 | ) | (75,222,970 | ) | ||||||||
Ending Cash3 | $ | 145,410,858 | $ | 133,088,621 | $ | 145,410,858 | $ | 133,088,621 | ||||||||
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES4 | ||||
Hercules Offshore, Inc. | $ | 11,518,969 | ||
Cliffs Drilling Company | 655,146 | |||
Cliffs Drilling Trinidad L.L.C. | — | |||
FDT LLC | — | |||
FDT Holdings LLC | — | |||
Hercules Drilling Company, LLC | 2,582,951 | |||
Hercules Offshore Services LLC | 3,714,162 | |||
Hercules Offshore Liftboat Company LLC | — | |||
HERO Holdings, Inc. | 8,028 | |||
SD Drilling LLC | 5,769,878 | |||
THE Offshore Drilling Company | 3,617,375 | |||
THE Onshore Drilling Company | — | |||
TODCO Americas Inc. | 79,553 | |||
TODCO International Inc. | — | |||
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TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES | $ | 27,946,063 | ||
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| (1) | Projected amounts are based on the forecasted weekly activity for the week ending 8/6 through the week ending 9/3. |
| (2) | Restructuring professional fees include estate professional fees and lender professional fees. |
| (3) | Ending Cash balance excludes petty cash and collateral accounts. |
| (4) | A majority of disbursements are made from centralized payroll and accounts payable bank accounts. Pro-rated amounts were allocated to the debtor entities based on percentage of expenses over the period. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 3 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-1a: BANK RECONCILIATIONS
Legal Entity1 | Bank Name | Account Function | Account # | USD Balance as of 8/31 | ||||||
Hercules Offshore, Inc. | Amegy Bank of Texas, N.A. | Operating Account | ****2838 | — | ||||||
Hercules Offshore, Inc. | Amegy Bank of Texas, N.A. | Flexible Spending Claims | ****7288 | — | ||||||
Hercules Offshore, Inc. | Amegy Bank of Texas, N.A. | Singapore Operating Account | ****0935 | — | ||||||
Hercules Offshore, Inc. | HSBC | Checking Account | ****2845 | 5,184,679 | ||||||
Hercules Offshore, Inc. | HSBC | Investment Account | ****1393 | 92,282,474 | ||||||
Hercules Offshore, Inc. | Amegy Bank of Texas, N.A. | Hercules Offshore Inc. Utilities | ****1193 | 58,193 | ||||||
Cliffs Drilling Company | Amegy Bank of Texas, N.A. | Operating Account | ****1649 | — | ||||||
Cliffs Drilling Company | HSBC | Local Operations | ****1001 | 12,036 | ||||||
Hercules Drilling Company, LLC | Amegy Bank of Texas, N.A. | Operating Account | ****4656 | 14,852,088 | ||||||
Hercules Drilling Company, LLC | Amegy Bank of Texas, N.A. | Payables | ****5850 | — | ||||||
Hercules Drilling Company, LLC | Amegy Bank of Texas, N.A. | Cayman Investment Sweep Account | ****4656 | — | ||||||
Hercules Drilling Company, LLC | Amegy Bank of Texas, N.A. | Money Market Investment Account | ****8200 | — | ||||||
Hercules Drilling Company, LLC | Amegy Bank of Texas, N.A. | Cayman Self Directed Investment Account | ****2321 | — | ||||||
Hercules Drilling Company, LLC | Capital One Bank | Investment Account | ****7684 | 33,193,958 | ||||||
Hercules Drilling Company, LLC | Comerica Bank | Investment Account | ****8881 | — | ||||||
Hercules Offshore Services LLC | Amegy Bank of Texas, N.A. | Payroll Account | ****5069 | — | ||||||
TODCO Americas Inc. | Amegy Bank of Texas, N.A. | Operating Account | ****8930 | — | ||||||
Notes:
| (1) | Includes only Debtor entity bank accounts |
I attest that each of the Debtors’ corporate bank accounts is reconciled to monthly bank statements. The Company’s standard practice is to ensure that each corporate bank account is reconciled to monthly bank statements for each fiscal month within 30 days after month end. See above listing of each of the Debtors’ bank accounts and the book balance of the account as of the end of the fiscal month covered by this report.
/s/ Troy Carson | /s/ Troy Carson | |||
| Authorized Representative | Printed Name of Authorized Representative |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 4 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-1a: BANK RECONCILIATIONS
| Legal Entity | Hercules Offshore, Inc. | Hercules Offshore, Inc. | Hercules Offshore, Inc. | Cliffs Drilling Company | Hercules Drilling Company, LLC | |||||||||||||||||||||||||||||||||||
| Bank Name | HSBC | HSBC | Amegy Bank of Texas, N.A. | HSBC | Amegy Bank of Texas, N.A. | |||||||||||||||||||||||||||||||||||
Account # | ****2845 | ****1393 | ****1193 | ****1001 | ****4656 | |||||||||||||||||||||||||||||||||||
Balance Per Books | $ | 5,184,679 | $ | 92,282,474 | $ | 58,193 | $ | 12,036 | $ | 14,852,088 | ||||||||||||||||||||||||||||||
Bank Balance | $ | 5,184,679 | $ | 92,282,474 | $ | 58,193 | $ | 12,036 | $ | 14,852,088 | ||||||||||||||||||||||||||||||
(+) Deposits In Transit | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
(-) Outstanding Checks | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Adjusted Bank Balance | $ | 5,184,679 | $ | 92,282,474 | $ | 58,193 | $ | 12,036 | $ | 14,852,088 | ||||||||||||||||||||||||||||||
Deposits In Transit | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||
| $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
| — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
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Total Deposits In Transit | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
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Outstanding Checks | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||
Total Outstanding Checks | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
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Other | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||
| $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
| — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
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Total Other | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
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Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 5 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-1a: BANK RECONCILIATIONS
Legal Entity Bank Name Account # | Hercules Drilling Company, LLC Amegy Bank of Texas, N.A. ****4656 | Hercules Drilling Company, LLC Capital One Bank ****7684 | Hercules Drilling Company, LLC Comerica Bank ****8881 | Hercules Drilling Company, LLC Amegy Bank of Texas, N.A.1 ****5850 | Hercules Offshore Services LLC Amegy Bank of Texas, N.A.1 ****5069 | |||||||||||||||||||||||||||||||||||
Balance Per Books | $ | — | $ | 33,193,958 | $ | — | $ | (170,957 | ) | $ | (1,613 | ) | ||||||||||||||||||||||||||||
Bank Balance | $ | — | $ | 33,193,958 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
(+) Deposits In Transit | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
(-) Outstanding Checks | — | — | — | 170,957 | 1,613 | |||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Adjusted Bank Balance | $ | — | $ | 33,193,958 | $ | — | $ | (170,957 | ) | $ | (1,613 | ) | ||||||||||||||||||||||||||||
Deposits In Transit | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||
| $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
| — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
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Total Deposits In Transit | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
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Outstanding Checks2 | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||
Total Outstanding Checks | $ | — | $ | — | $ | — | $ | 170,957 | $ | 1,613 | ||||||||||||||||||||||||||||||
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Other | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
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Total Other | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
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| (1) | The negative book balance in accounts ****5850 and ****5069 are due to those accounts being ZBA accounts in the Amegy bank account structure noted in the Cash Management Motion. As checks clear these bank accounts, funds are made available to those accounts to process checks presented for payment. |
| (2) | Outstanding checks are available to the UST upon request. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 6 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-1b: SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
| Check | Amount Paid | Year-To-Date | ||||||||||||||||||||||||||||||||
Payee | Period Covered | Amount Approved | Payor | Number | Date | Fees | Expenses | Fees | Expenses | |||||||||||||||||||||||||
Alfaro Ferrer | 7/8/2016 | $ | 3,765 | Hercules Drilling Company, LLC | None | None | $ | 2,713 | $ | 1,052 | $ | 2,713 | $ | 1,052 | ||||||||||||||||||||
Bayard, PA | 6/1/16 – 6/30/16 | 20,565 | Hercules Drilling Company, LLC | None | None | 20,252 | 313 | 20,252 | 313 | |||||||||||||||||||||||||
King & Spalding LLP | 7/1/16 – 7/31/16 | 179,286 | Hercules Drilling Company, LLC | None | None | 173,610 | 5,677 | 350,173 | 6,277 | |||||||||||||||||||||||||
Kirkland & Ellis LLP | Ending 7/31/16 | 264,438 | Hercules Drilling Company, LLC | None | None | 262,379 | 2,059 | 262,379 | 2,059 | |||||||||||||||||||||||||
Prime Clerk LLC | Ending 7/31/16 | 204,920 | Hercules Drilling Company, LLC | None | None | 37,024 | 167,896 | 136,587 | 527,404 | |||||||||||||||||||||||||
White & Case LLP | Ending 7/31/16 | 1,464,321 | Hercules Drilling Company, LLC | None | None | 1,412,097 | 52,224 | 2,113,471 | 95,443 | |||||||||||||||||||||||||
Zolfo Cooper | 6/1/16 – 6/30/16 | 33,110 | Hercules Drilling Company, LLC | None | None | 30,684 | 2,427 | 30,684 | 2,427 | |||||||||||||||||||||||||
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 7 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
The Consolidated Debtor Entities
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | 2,742,569 | $ | 12,154,939 | ||||
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Total Revenue | 2,742,569 | 12,154,939 | ||||||
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OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 3,346,316 | 10,570,044 | ||||||
Depreciation & Amortization | 805,274 | 2,182,488 | ||||||
General & Administrative | 3,440,084 | 11,673,185 | ||||||
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Total Operating Expenses | 7,591,674 | 24,425,717 | ||||||
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Operating Income | (4,849,105 | ) | (12,270,777 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | 63,783,179 | 63,689,446 | ||||||
Interest Expense | 2,661,722 | 135,165,221 | ||||||
Income Taxes (Benefit) | 3,586 | (5,430,845 | ) | |||||
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Total Other Income and Expenses | 66,448,487 | 193,423,822 | ||||||
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Net Profit/(Loss) | $ | (71,297,592 | ) | $ | (205,694,600 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 8 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
Hercules Offshore, Inc.
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | 436,881 | $ | 900,305 | ||||
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Total Revenue | 436,881 | 900,305 | ||||||
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OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 3,810 | (102,489 | ) | |||||
Depreciation & Amortization | 175,000 | 291,667 | ||||||
General & Administrative | 3,219,436 | 9,800,509 | ||||||
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Total Operating Expenses | 3,398,246 | 9,989,686 | ||||||
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Operating Income | (2,961,364 | ) | (9,089,382 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | 63,943,736 | 63,879,004 | ||||||
Interest Expense | 2,044,732 | 133,314,251 | ||||||
Income Taxes (Benefit) | 3,586 | (4,048,912 | ) | |||||
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Total Other Income and Expenses | 65,992,053 | 193,144,343 | ||||||
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Net Profit/(Loss) | $ | (68,953,418 | ) | $ | (202,233,725 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 9 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
Cliffs Drilling Company
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
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Total Revenue | — | — | ||||||
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OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 151,090 | 538,008 | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | 10,499 | 42,473 | ||||||
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Total Operating Expenses | 161,589 | 580,481 | ||||||
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Operating Income | (161,589 | ) | (580,481 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | (71 | ) | 3,211 | |||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | (1,158,886 | ) | |||||
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Total Other Income and Expenses | (71 | ) | (1,155,675 | ) | ||||
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Net Profit/(Loss) | $ | (161,518 | ) | $ | 575,194 | |||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 10 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
Cliffs Drilling Trinidad L.L.C.
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
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Total Revenue | — | — | ||||||
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OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
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Total Operating Expenses | — | — | ||||||
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Operating Income | — | — | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | — | $ | — | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 11 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
FDT LLC
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
|
|
|
| |||||
Total Operating Expenses | — | — | ||||||
|
|
|
| |||||
Operating Income | — | — | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | — | $ | — | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 12 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
FDT Holdings LLC
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
|
|
|
| |||||
Total Operating Expenses | — | — | ||||||
|
|
|
| |||||
Operating Income | — | — | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | — | $ | — | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 13 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
Hercules Drilling Company, LLC
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 122,952 | 375,209 | ||||||
Depreciation & Amortization | 221,776 | 665,329 | ||||||
General & Administrative | 205,601 | 692,216 | ||||||
|
|
|
| |||||
Total Operating Expenses | 550,330 | 1,732,755 | ||||||
|
|
|
| |||||
Operating Income | (550,330 | ) | (1,732,755 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | (93,186 | ) | (125,469 | ) | ||||
Interest Expense | (75,750 | ) | (227,250 | ) | ||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | (168,936 | ) | (352,719 | ) | ||||
|
|
|
| |||||
Net Profit/(Loss) | $ | (381,394 | ) | $ | (1,380,036 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 14 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
Hercules Offshore Services LLC
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | 1,276,732 | $ | 4,000,014 | ||||
|
|
|
| |||||
Total Revenue | 1,276,732 | 4,000,014 | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 938,295 | 2,580,194 | ||||||
Depreciation & Amortization | 140,917 | 422,750 | ||||||
General & Administrative | 0 | 0 | ||||||
|
|
|
| |||||
Total Operating Expenses | 1,079,211 | 3,002,944 | ||||||
|
|
|
| |||||
Operating Income | 197,521 | 997,070 | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | (67,300 | ) | (67,300 | ) | ||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | (67,300 | ) | (67,300 | ) | ||||
|
|
|
| |||||
Net Profit/(Loss) | $ | 264,821 | $ | 1,064,370 | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 15 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
Hercules Offshore Liftboat Company LLC
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
|
|
|
| |||||
Total Operating Expenses | — | — | ||||||
|
|
|
| |||||
Operating Income | — | — | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | — | $ | — | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 16 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
HERO Holdings, Inc.
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | 2,156 | 867,389 | ||||||
|
|
|
| |||||
Total Operating Expenses | 2,156 | 867,389 | ||||||
|
|
|
| |||||
Operating Income | (2,156 | ) | (867,389 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | 692,740 | 2,078,220 | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | 692,740 | 2,078,220 | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | (694,896 | ) | $ | (2,945,610 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 17 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
SD Drilling LLC
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | 992,966 | $ | 4,130,153 | ||||
|
|
|
| |||||
Total Revenue | 992,966 | 4,130,153 | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 1,300,052 | 4,399,500 | ||||||
Depreciation & Amortization | 211,636 | 634,908 | ||||||
General & Administrative | — | 0 | ||||||
|
|
|
| |||||
Total Operating Expenses | 1,511,688 | 5,034,408 | ||||||
|
|
|
| |||||
Operating Income | (518,722 | ) | (904,255 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | (7,000 | ) | (21,000 | ) | ||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | (7,000 | ) | (21,000 | ) | ||||
|
|
|
| |||||
Net Profit/(Loss) | $ | (511,722 | ) | $ | (883,255 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 18 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
THE Offshore Drilling Company
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | 35,990 | $ | 3,124,467 | ||||
|
|
|
| |||||
Total Revenue | 35,990 | 3,124,467 | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 808,759 | 2,715,544 | ||||||
Depreciation & Amortization | 55,944 | 167,833 | ||||||
General & Administrative | 2,394 | 270,597 | ||||||
|
|
|
| |||||
Total Operating Expenses | 867,097 | 3,153,975 | ||||||
|
|
|
| |||||
Operating Income | (831,107 | ) | (29,508 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | (831,107 | ) | $ | (29,508 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 19 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
THE Onshore Drilling Company
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
|
|
|
| |||||
Total Operating Expenses | — | — | ||||||
|
|
|
| |||||
Operating Income | — | — | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | — | $ | — | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 20 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
TODCO Americas Inc.
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | 21,359 | 64,077 | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
|
|
|
| |||||
Total Operating Expenses | 21,359 | 64,077 | ||||||
|
|
|
| |||||
Operating Income | (21,359 | ) | (64,077 | ) | ||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | 7,000 | 21,000 | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | 7,000 | 21,000 | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | (28,359 | ) | $ | (85,077 | ) | ||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 21 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-2: STATEMENT OF OPERATIONS
(Income Statement)
TODCO International Inc.
REVENUES | Month | Cumulative Filing to Date1 | ||||||
Revenue | $ | — | $ | — | ||||
|
|
|
| |||||
Total Revenue | — | — | ||||||
|
|
|
| |||||
OPERATING EXPENSES | ||||||||
Operating Cost & Expenses | — | — | ||||||
Depreciation & Amortization | — | — | ||||||
General & Administrative | — | — | ||||||
|
|
|
| |||||
Total Operating Expenses | — | — | ||||||
|
|
|
| |||||
Operating Income | — | — | ||||||
OTHER INCOME AND EXPENSES | ||||||||
Other (Income)/Expenses, Net | — | — | ||||||
Interest Expense | — | — | ||||||
Income Taxes (Benefit) | — | — | ||||||
|
|
|
| |||||
Total Other Income and Expenses | — | — | ||||||
|
|
|
| |||||
Net Profit/(Loss) | $ | — | $ | — | ||||
| (1) | The Company did not close the books on the petition date and therefore the values represent the period June 1 - August 31. |
| (2) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 22 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
The Consolidated Debtor Entities
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | 145,410,858 | $ | 152,435,848 | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | 13,173,439 | 13,487,385 | ||||||
Accounts Receivable – Other | (1,250 | ) | 164,534 | |||||
Due to/from Affiliates | (453,071,827 | ) | (391,894,570 | ) | ||||
Deposits | — | — | ||||||
Prepaid & Other | 8,536,665 | 9,554,356 | ||||||
|
|
|
| |||||
Total Current Assets | (285,952,115 | ) | (216,252,447 | ) | ||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 85,775,405 | 86,405,855 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | 1,724,702,689 | 1,724,702,689 | ||||||
Notes Receivable – Affiliates | 959,514,329 | 959,514,329 | ||||||
Other Assets | 5,649,307 | 5,815,502 | ||||||
|
|
|
| |||||
Total Other Assets | 2,689,866,325 | 2,690,032,520 | ||||||
|
|
|
| |||||
Total Assets | $ | 2,489,689,614 | $ | 2,560,185,928 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 9,291,965 | $ | 9,616,143 | ||||
Accrued Liabilities | 24,978,169 | 23,193,047 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | (1,009,289 | ) | (1,009,059 | ) | ||||
Other Current Liabilities | 289,985 | 90,000 | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | 4,331 | 745 | ||||||
Notes Payable - Affiliates | 499,814,329 | 499,814,329 | ||||||
Other Liabilities | 204,921 | 1,810,748 | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 533,574,411 | 533,515,952 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | 346,433,438 | 345,733,698 | ||||||
|
|
|
| |||||
Total Liabilities | 880,007,849 | 879,249,650 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 200,041 | 200,041 | ||||||
Additional Paid-in-Capital | 1,681,673,640 | 1,681,630,560 | ||||||
Contributed Capital | 138,844,823 | 138,844,823 | ||||||
Treasury Stock | (325,548 | ) | (325,548 | ) | ||||
Retained Earning – Prior Year | (22,848,912 | ) | (22,848,912 | ) | ||||
Net Income | (187,862,278 | ) | (116,564,686 | ) | ||||
Net Shareholders Equity | 1,609,681,766 | 1,680,936,278 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 2,489,689,614 | $ | 2,560,185,928 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 23 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
Hercules Offshore, Inc.
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | 97,525,346 | $ | 80,502,256 | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | 4,001,197 | 3,564,316 | ||||||
Accounts Receivable – Other | — | 135,027 | ||||||
Due to/from Affiliates | (676,538,880 | ) | (590,114,557 | ) | ||||
Deposits | — | — | ||||||
Prepaid & Other | 2,975,302 | 3,173,474 | ||||||
|
|
|
| |||||
Total Current Assets | (572,037,034 | ) | (502,739,485 | ) | ||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | 756,424,589 | 756,424,589 | ||||||
Notes Receivable – Affiliates | 864,514,329 | 864,514,329 | ||||||
Other Assets | 5,649,307 | 5,815,502 | ||||||
|
|
|
| |||||
Total Other Assets | 1,626,588,225 | 1,626,754,420 | ||||||
|
|
|
| |||||
Total Assets | $ | 1,054,551,191 | $ | 1,124,014,935 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 3,747,642 | $ | 4,381,547 | ||||
Accrued Liabilities | 2,949,550 | 1,266,581 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | (306,401 | ) | (306,171 | ) | ||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | 4,331 | 745 | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | 204,921 | 1,810,748 | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 6,600,043 | 7,153,449 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | 340,835,517 | 340,835,517 | ||||||
|
|
|
| |||||
Total Liabilities | 347,435,560 | 347,988,967 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 200,000 | 200,000 | ||||||
Additional Paid-in-Capital | 588,067,366 | 588,024,286 | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | (325,548 | ) | (325,548 | ) | ||||
Retained Earning – Prior Year | 298,364,810 | 298,364,810 | ||||||
Net Income | (179,190,997 | ) | (110,237,579 | ) | ||||
Net Shareholders Equity | 707,115,631 | 776,025,969 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 1,054,551,191 | $ | 1,124,014,935 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 24 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
Cliffs Drilling Company
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | 12,036 | $ | 11,880 | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | (460,950 | ) | (460,950 | ) | ||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | 87,953,607 | 87,869,820 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | 674,475 | 758,784 | ||||||
|
|
|
| |||||
Total Current Assets | 88,179,167 | 88,179,534 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 1,000,000 | 1,000,000 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | 3,499,897 | 3,499,897 | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | 3,499,897 | 3,499,897 | ||||||
|
|
|
| |||||
Total Assets | $ | 92,679,064 | $ | 92,679,431 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 789,767 | $ | 731,405 | ||||
Accrued Liabilities | 56,097 | 53,292 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | 123,151 | 123,151 | ||||||
Other Current Liabilities | 99,985 | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | (1 | ) | (1 | ) | ||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 1,068,999 | 907,848 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | 1,068,999 | 907,848 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 10 | 10 | ||||||
Additional Paid-in-Capital | 210,903,996 | 210,903,996 | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (118,718,232 | ) | (118,718,232 | ) | ||||
Net Income | (575,709 | ) | (414,190 | ) | ||||
Net Shareholders Equity | 91,610,065 | 91,771,584 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 92,679,064 | $ | 92,679,431 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 25 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
Cliffs Drilling Trinidad L.L.C.
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | (299 | ) | (299 | ) | ||||
Deposits | — | — | ||||||
Prepaid & Other | — | — | ||||||
|
|
|
| |||||
Total Current Assets | (299 | ) | (299 | ) | ||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | 1,144 | 1,144 | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | 1,144 | 1,144 | ||||||
|
|
|
| |||||
Total Assets | $ | 845 | $ | 845 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | — | — | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | — | — | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | 9,360 | 9,360 | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (8,515 | ) | (8,515 | ) | ||||
Net Income | — | — | ||||||
Net Shareholders Equity | 845 | 845 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 845 | $ | 845 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 26 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
FDT LLC
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | — | — | ||||||
Deposits | — | — | ||||||
Prepaid & Other | — | — | ||||||
|
|
|
| |||||
Total Current Assets | — | — | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | — | $ | — | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | — | — | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | — | — | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | — | — | ||||||
Net Income | — | — | ||||||
Net Shareholders Equity | — | — | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | — | $ | — | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 27 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
FDT Holdings LLC
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | — | — | ||||||
Deposits | — | — | ||||||
Prepaid & Other | — | — | ||||||
|
|
|
| |||||
Total Current Assets | — | — | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | — | $ | — | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | — | — | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | — | — | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | — | — | ||||||
Net Income | — | — | ||||||
Net Shareholders Equity | — | — | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | — | $ | — | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 28 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
Hercules Drilling Company, LLC
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | 47,875,089 | $ | 71,925,296 | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | (0 | ) | 47 | |||||
Due to/from Affiliates | 53,454,595 | 28,510,950 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | 696,101 | 907,464 | ||||||
|
|
|
| |||||
Total Current Assets | 102,025,784 | 101,343,756 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 10,128,223 | 10,349,999 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | 90,000,000 | 90,000,000 | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | 90,000,000 | 90,000,000 | ||||||
|
|
|
| |||||
Total Assets | $ | 202,154,007 | $ | 201,693,756 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 937,703 | $ | 674,221 | ||||
Accrued Liabilities | 19,837,557 | 19,259,393 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | (389,633 | ) | (389,633 | ) | ||||
Other Current Liabilities | 90,000 | 90,000 | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 20,475,627 | 19,633,981 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | 20,475,627 | 19,633,981 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | 181,789,741 | 181,789,741 | ||||||
Net Income | (111,360 | ) | 270,033 | |||||
Net Shareholders Equity | 181,678,381 | 182,059,774 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 202,154,007 | $ | 201,693,756 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 29 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
Hercules Offshore Services LLC
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | (1,613 | ) | $ | (3,584 | ) | ||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | 2,691,055 | 2,690,197 | ||||||
Accounts Receivable – Other | (1,250 | ) | 8,387 | |||||
Due to/from Affiliates | 19,429,179 | 19,468,608 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | 704,340 | 792,382 | ||||||
|
|
|
| |||||
Total Current Assets | 22,821,711 | 22,955,990 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 25,319,017 | 25,459,933 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | 483,802,329 | 483,802,329 | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | 483,802,329 | 483,802,329 | ||||||
|
|
|
| |||||
Total Assets | $ | 531,943,056 | $ | 532,218,252 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 738,531 | $ | 704,910 | ||||
Accrued Liabilities | 861,132 | 1,434,770 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 1,599,664 | 2,139,680 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | 1,599,664 | 2,139,680 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | 265,099,970 | 265,099,970 | ||||||
Contributed Capital | 65,545,741 | 65,545,741 | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | 201,796,230 | 201,796,230 | ||||||
Net Income | (2,098,548 | ) | (2,363,369 | ) | ||||
Net Shareholders Equity | 530,343,393 | 530,078,572 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 531,943,056 | $ | 532,218,252 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 30 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
Hercules Offshore Liftboat Company LLC
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | — | — | ||||||
Deposits | — | — | ||||||
Prepaid & Other | — | — | ||||||
|
|
|
| |||||
Total Current Assets | — | — | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | — | $ | — | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | — | — | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | — | — | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | — | — | ||||||
Net Income | — | — | ||||||
Net Shareholders Equity | — | — | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | — | $ | — | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 31 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
HERO Holdings, Inc.
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | 16,880,323 | 16,880,323 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | (0 | ) | (0 | ) | ||||
|
|
|
| |||||
Total Current Assets | 16,880,323 | 16,880,323 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | 480,974,730 | 480,974,730 | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | 480,974,730 | 480,974,730 | ||||||
|
|
|
| |||||
Total Assets | $ | 497,855,053 | $ | 497,855,053 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | 43,110 | 40,955 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | (25,207 | ) | (25,207 | ) | ||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | 494,814,329 | 494,814,329 | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 494,832,232 | 494,830,077 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | 5,541,920 | 4,849,180 | ||||||
|
|
|
| |||||
Total Liabilities | 500,374,153 | 499,679,257 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | 415,428,989 | 415,428,989 | ||||||
Contributed Capital | 78,247,255 | 78,247,255 | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (488,053,410 | ) | (488,053,410 | ) | ||||
Net Income | (8,141,933 | ) | (7,447,038 | ) | ||||
Net Shareholders Equity | (2,519,100 | ) | (1,824,204 | ) | ||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 497,855,053 | $ | 497,855,053 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 32 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
SD Drilling LLC
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | 3,870,481 | 3,675,803 | ||||||
Accounts Receivable – Other | — | 10,075 | ||||||
Due to/from Affiliates | 35,687,983 | 35,715,833 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | 2,270,494 | 2,554,306 | ||||||
|
|
|
| |||||
Total Current Assets | 41,828,957 | 41,956,017 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 38,276,421 | 38,488,233 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | 5,000,000 | 5,000,000 | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | 5,000,000 | 5,000,000 | ||||||
|
|
|
| |||||
Total Assets | $ | 85,105,378 | $ | 85,444,250 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 2,057,847 | $ | 2,040,919 | ||||
Accrued Liabilities | 265,548 | 209,625 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | 100,000 | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 2,423,395 | 2,250,545 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | 2,423,395 | 2,250,545 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | — | — | ||||||
Additional Paid-in-Capital | 150,329,019 | 150,329,019 | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (68,473,306 | ) | (68,473,306 | ) | ||||
Net Income | 826,271 | 1,337,992 | ||||||
Net Shareholders Equity | 82,681,983 | 83,193,705 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 85,105,378 | $ | 85,444,250 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 33 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
THE Offshore Drilling Company
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | 3,071,656 | 4,018,020 | ||||||
Accounts Receivable – Other | — | 10,998 | ||||||
Due to/from Affiliates | 8,496,233 | 8,209,320 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | 1,045,082 | 1,175,718 | ||||||
|
|
|
| |||||
Total Current Assets | 12,612,972 | 13,414,055 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 10,801,744 | 10,857,689 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | 23,414,716 | $ | 24,271,744 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 890,143 | $ | 952,808 | ||||
Accrued Liabilities | 965,175 | 928,431 | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | (411,198 | ) | (411,198 | ) | ||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | (0 | ) | (0 | ) | ||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 1,444,119 | 1,470,040 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | 1,444,119 | 1,470,040 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 1 | 1 | ||||||
Additional Paid-in-Capital | 51,844,299 | 51,844,299 | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (31,445,138 | ) | (31,445,138 | ) | ||||
Net Income | 1,571,435 | 2,402,541 | ||||||
Net Shareholders Equity | 21,970,597 | 22,801,704 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 23,414,716 | $ | 24,271,744 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 34 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
THE Onshore Drilling Company
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | 19,353 | 19,353 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | — | — | ||||||
|
|
|
| |||||
Total Current Assets | 19,353 | 19,353 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | 19,353 | $ | 19,353 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | — | — | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | — | — | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 10 | 10 | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | (4,957,532 | ) | (4,957,532 | ) | ||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | 4,976,875 | 4,976,875 | ||||||
Net Income | — | — | ||||||
Net Shareholders Equity | 19,353 | 19,353 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 19,353 | $ | 19,353 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 35 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
TODCO Americas Inc.
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | 1,546,073 | 1,546,073 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | 170,871 | 192,230 | ||||||
|
|
|
| |||||
Total Current Assets | 1,716,944 | 1,738,303 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | 250,000 | 250,000 | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | 1,966,944 | $ | 1,988,303 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | 130,332 | $ | 130,332 | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | 0 | 0 | ||||||
Notes Payable - Affiliates | 5,000,000 | 5,000,000 | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | 5,130,332 | 5,130,332 | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | 56,000 | 49,000 | ||||||
|
|
|
| |||||
Total Liabilities | 5,186,332 | 5,179,332 | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 10 | 10 | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (3,077,963 | ) | (3,077,963 | ) | ||||
Net Income | (141,435 | ) | (113,077 | ) | ||||
Net Shareholders Equity | (3,219,388 | ) | (3,191,029 | ) | ||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 1,966,944 | $ | 1,988,303 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 36 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-3: BALANCE SHEET
TODCO International Inc.
| ASSETS | Book Value at End of | Book Value at End of | ||||||
CURRENT ASSETS | Current Reporting Month | Previous Month | ||||||
Cash | $ | — | $ | — | ||||
Restricted Cash | — | — | ||||||
Accounts Receivable – Trade | — | — | ||||||
Accounts Receivable – Other | — | — | ||||||
Due to/from Affiliates | 6 | 6 | ||||||
Deposits | — | — | ||||||
Prepaid & Other | — | — | ||||||
|
|
|
| |||||
Total Current Assets | 6 | 6 | ||||||
|
|
|
| |||||
PROPERTY, PLANT & EQUIPMENT | ||||||||
Net Property, Plant & Equipment | — | — | ||||||
OTHER ASSETS | ||||||||
Investment in/from Affiliates | — | — | ||||||
Notes Receivable – Affiliates | — | — | ||||||
Other Assets | — | — | ||||||
|
|
|
| |||||
Total Other Assets | — | — | ||||||
|
|
|
| |||||
Total Assets | $ | 6 | $ | 6 | ||||
|
|
|
| |||||
| LIABILITIES AND OWNER EQUITY | Book Value at End of | Book Value at End of | ||||||
LIABILITIES NOT SUBJECT TO COMPROMISE | Current Reporting Month | Previous Month | ||||||
Accounts Payable | $ | — | $ | — | ||||
Accrued Liabilities | — | — | ||||||
Interest Payable | — | — | ||||||
Taxes Payable | — | — | ||||||
Other Current Liabilities | — | — | ||||||
Current portion of Long-Term Debt | — | — | ||||||
Deferred Income Taxes | — | — | ||||||
Notes Payable - Affiliates | — | — | ||||||
Other Liabilities | — | — | ||||||
|
|
|
| |||||
Total Liabilities Not Subject to Compromise | — | — | ||||||
|
|
|
| |||||
LIABILITIES SUBJECT TO COMPROMISE1&2 | ||||||||
|
|
|
| |||||
Total Liabilities Subject to Compromise | — | — | ||||||
|
|
|
| |||||
Total Liabilities | — | — | ||||||
|
|
|
| |||||
SHAREHOLDERS EQUITY | ||||||||
Common Stock | 10 | 10 | ||||||
Additional Paid-in-Capital | — | — | ||||||
Contributed Capital | — | — | ||||||
Treasury Stock | — | — | ||||||
Retained Earning – Prior Year | (4 | ) | (4 | ) | ||||
Net Income | — | — | ||||||
Net Shareholders Equity | 6 | 6 | ||||||
|
|
|
| |||||
Total Liabilities and Shareholders Equity | $ | 6 | $ | 6 | ||||
|
|
|
| |||||
| (1) | The all-trade motion authorizes the payment of all trade payables in normal course, and therefore only the Senior Notes and Interest Payable have been included in Liabilities subject to compromise. Additionally, Liabilities subject to compromise include the estimated make whole payment amounts. |
| (2) | The Debtors continue accruing and paying interest on the Senior Notes. Additionally, the Non-Debtor entities paid $2.85 million to the Senior Notes as a result of Hercules 267 sale as provided in the Credit Agreement. |
| (3) | The balance sheets and statements of operations included in the Monthly Operating Report are unaudited and subject to adjustment, including year-end adjustments and any audit-related adjustments. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 37 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-4: SUMMARY OF UNPAID POSTPETITION DEBTS
| Number of Days Past Due | ||||||||||||||||||||||||
| Current | 0-30 | 31-60 | 61-90 | Over 90 | Total | |||||||||||||||||||
Accounts Payable | $ | 8,797,010 | $ | 352,628 | $ | 153,234 | $ | 6,794 | $ | (17,699 | ) | $ | 9,291,965 | |||||||||||
Accrued Liabilities | 24,978,169 | 24,978,169 | ||||||||||||||||||||||
Taxes Payable | (1,009,289 | ) | (1,009,289 | ) | ||||||||||||||||||||
Other Current Liabilities | 289,985 | 289,985 | ||||||||||||||||||||||
Deferred Income Taxes | 4,331 | 4,331 | ||||||||||||||||||||||
Other Liabilities | 204,921 | 204,921 | ||||||||||||||||||||||
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Total Unpaid Post-petition Debt | $ | 33,265,126 | $ | 352,628 | $ | 153,234 | $ | 6,794 | $ | (17,699 | ) | $ | 33,760,082 | |||||||||||
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| (1) | Both pre-petition and post-petition debts with the exception of the Senior Notes and interest have been included in the schedule as they will be paid in normal course pursuant to the Plan. |
| (2) | Schedule represents the consolidated debtor entities. |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 38 of 39
| In re | HERCULES OFFSHORE, INC., ET AL. DEBTOR | Case No. | 16-11385 | |||
| Debtor | Reporting Period: | AUG. 1 - AUG. 31, 2016 |
MOR-5: ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation | Amount | |||
Total Accounts Receivable at the beginning of the reporting period | $ | 13,487,385 | ||
(+) Amounts billed during the period | 2,708,056 | |||
(-) Amounts collected during the period | (3,022,002 | ) | ||
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Total Accounts Receivable at the end of the reporting period | 13,173,439 | |||
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Accounts Receivable Aging Amount | Amount | |||
0 - 30 days old | 7,592,468 | |||
31 - 60 days old | 2,432,856 | |||
61 - 90 days old | (16,562 | ) | ||
91+ days old | 3,625,627 | |||
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Total Accounts Receivable | 13,634,389 | |||
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Amount considered uncollectible (Bad Debt) | (460,950 | ) | ||
Accounts Receivable (Net) | $ | 13,173,439 | ||
MOR-5: DEBTOR QUESTIONNAIRE
| Yes | No | |||||
1 | Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. | X | ||||
2 | Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below. | X | ||||
3 | Have all post petition tax returns been timely filed? If no, provide an explanation below. | X | ||||
4 | Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. | X | ||||
5 | Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3. | X |
Case 16-11385-KJC Doc 397 Filed 09/20/16 Page 39 of 39
| Case Number | Debtor Name | Petition Date | ||||
| 16-11385 | Hercules Offshore, Inc. | June 5, 2016 | ||||
| 16-11386 | Cliffs Drilling Company | June 6, 2016 | ||||
| 16-11387 | Cliffs Drilling Trinidad L.L.C. | June 6, 2016 | ||||
| 16-11388 | FDT LLC | June 6, 2016 | ||||
| 16-11389 | FDT Holdings LLC | June 6, 2016 | ||||
| 16-11390 | Hercules Drilling Company, LLC | June 6, 2016 | ||||
| 16-11391 | Hercules Offshore Services LLC | June 6, 2016 | ||||
| 16-11392 | Hercules Offshore Liftboat Company LLC | June 6, 2016 | ||||
| 16-11393 | HERO Holdings, Inc. | June 6, 2016 | ||||
| 16-11394 | SD Drilling LLC | June 6, 2016 | ||||
| 16-11395 | THE Offshore Drilling Company | June 6, 2016 | ||||
| 16-11396 | THE Onshore Drilling Company | June 6, 2016 | ||||
| 16-11397 | TODCO Americas Inc. | June 6, 2016 | ||||
| 16-11398 | TODCO International Inc. | June 6, 2016 |
Case 16-11385-KJC Doc 397-1 Filed 09/20/16 Page 1 of 1
CERTIFICATE OF SERVICE
I, Matthew B. Harvey, certify that I am not less than 18 years of age, and that service of the foregoingMonthly Operating Reportfor the reporting period August 1, 2016 – August 31, 2016, was caused to be made on September 20, 2016, in the manner indicated upon the party identified below.
VIA HAND DELIVERY
Attn: Timothy Fox, Esq.
Office of the United States Trustee
J. Caleb Boggs Federal Building
844 North King Street, Suite 2207
Wilmington, DE 19801
| Dated: September 20, 2016 | /s/ Matthew B. Harvey | |||||
| Matthew B. Harvey (No. 5186) |
