Butz Boston Red Sox Vice President Finance and Treasurer

Butz, reveals david ortiz Vice President jason varitek understand Finance and Treasurer, +1-713-350-8315, orCraig M. One such non-GAAPfinancial measure we may present from time to time is operating income,income from continuing operations or diluted earnings per share excludingcertain charges or amounts. However, management believes that certainnon-GAAP performance measures and ratios may provide users of thisfinancial information additional meaningful comparisons between currentresults and results in prior operating periods. This adjusted income amount is not a measureof financial performance under GAAP. Accordingly, it should not beconsidered as a substitute for operating income, income from continuingoperations, net income, earnings per share or other income data preparedin accordance with GAAP.See the table below for supplemental financialdata and corresponding reconciliations to GAAP financial measures for thethree and six months ended June 30, 2009 and 2008. and SubsidiariesReconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) (In thousands, except per share data)We report our financial results in accordance with generally acceptedaccounting principles (GAAP).

Such statements are subject to a number of risks,uncertainties and assumptions, including the factors described in HerculesOffshore's most recent periodic reports and other documents filed with theSecurities and Exchange Commission, which are available free of charge at theSEC's Web site at http:// or the Company's Web site at http:// Hercules Offshore cautions you thatforward-looking statements are not guarantees of future performance and thatactual results or developments may differ materially from those projected orimplied in these statements HERCULES OFFSHORE, INC yawkey way store . operates a fleet of 31jackup rigs, 17 barge rigs, 65 liftboats, three submersible rigs, one platformrig and a fleet of marine support vessels, and has operations in ten differentcountries on four continents baseball tickets . The Company offers a range of services to oiland gas producers to meet their needs during drilling, well service, platforminspection, maintenance, and decommissioning operations in shallow waters.For more information, please visit our Web site at http:// news release contains forward-looking statements within the meaning ofSection 27A of the Securities Act of 1933 and Section 21E of the SecuritiesExchange Act of 1934 red socks tickets . The conference call will also bebroadcast live via the Internet at http:// replay of the conference call will be available by telephone on Thursday,July 23, 2009, beginning at 2:00 p.m CDT (3:00 p.m EDT), through Thursday,July 30, 2009 red socks t shirt . The phone number for the conference call replay is 888-286-8010(domestic) or 617-801-6888 (international) with reference code 34066950.Additionally, the recorded conference call will be accessible through our Website at http:// for 28 days after the conference call.ADDITIONAL INFORMATIONHeadquartered in Houston, Hercules Offshore, Inc. The non-GAAP measuresincluded in this press release have been reconciled to the nearest GAAPmeasure in the table that follows the financial statements.CONFERENCE CALL INFORMATIONHercules Offshore will conduct a conference call at 11:00 a.m. CDT (12:00 p.m.EDT) on Thursday, July 23, 2009, to discuss its second quarter 2009 financialresults.

Generally, anon-GAAP financial measure is a numerical measure of a company's performance,financial position, or cash flows that excludes or includes amounts that arenot normally excluded or included in the most directly comparable measurecalculated and presented in accordance with generally accepted accountingprinciples dirt dogs . In order to fully assess the financial operating results,management believes that the adjusted income from continuing operations andadjusted diluted earnings per share figures included in this release areappropriate measures of the continuing and normal operations of the Company.However, these measures should be considered in addition to, and not as asubstitute, or superior to, income from continuing operations, earnings pershare, operating income, cash flows from operations, or other measures offinancial performance prepared in accordance with GAAP red socks t shirts . In April 2009, the Company purchased$20.0 million in notional amount of the Company's 3.375% Convertible SeniorNotes for $6.1 million in cash, and in June 2009 the Company acquired andretired $45.8 million in notional amount of its 3.375% Convertible SeniorNotes in exchange for the issuance of 7,755,440 shares of common stock red socks tee shirts . SinceSeptember 30, 2008, the Company has retired approximately $171.7 million ofnotional amount of debt for total cash of $68.6 million and equityconsideration of $34.0 million.NON-GAAPCertain non-GAAP performance measures and corresponding reconciliations toGAAP financial measures for the company have been provided for meaningfulcomparisons between current results and prior operating periods dirtdogs . Partially offsetting thehigher revenue per vessel per day was a reduction in utilization to 58.1% from83.7% in the same respective periods as a result of lower capital spending byour customers. Operating income increased by $1.6 million in the secondquarter 2009 to $8.4 million.Liquidity and CapitalizationAt June 30, 2009, the Company had cash and cash equivalents totaling $129.9million and total debt of $969.2 million. The decline in revenue led to a reduction in operating income to$0.2 million for the second quarter 2009, from $3.0 million in the secondquarter of the previous year.International Liftboats revenues increased slightly in the second quarter 2009to $20.7 million compared to $20.3 million in the second quarter 2008.

Averagerevenue per vessel per day increased to $20,644 in the second quarter 2009from $15,255 in the year-ago quarter, partly resulting from the commencementof operations of the Amberjack in the Middle East bostondirtdogs . As a result ofincreased shipyard time on larger vessels, the fleet mix in the second quarterof 2009 adversely impacted average revenue per vessel per day which declinedto $7,727 in the second quarter 2009 from $9,030 in the same period of 2008.Utilization for the segment remained relatively flat at 63.6% in the secondquarter 2009 red socks baseball tickets . Inland generated revenue of $40.3million in the second quarter 2008 jason varitek . Cost reduction efforts led to a $22.4million reduction in operating costs to $8.9 million in the second quarter2009 relative to the year-ago quarter baseball tickets . The segment recorded an operating lossof $17.4 million during the second quarter 2009 versus an operating loss of$2.9 million during the corresponding quarter of 2008.LiftboatsDomestic Liftboats recorded revenue of $18.9 million during the second quarter2009 compared to $22.3 million in the second quarter 2008. Including a $26.9 millionnon-cash impairment charge on Hercules 110, second quarter 2009 operatingincome was $17.2 million versus second quarter 2008 operating income of $27.4million.InlandAs a result of extremely weak demand, the Company's fleet of inland barges wasnot active during the second quarter 2009. Average operating expense per day per rig decreased to$42,998 in the second quarter 2009 from $50,967 in the prior year period dueto the warm stacking of the Hercules 156 and initial start-up costs incurredin the prior year related to our India operations.

The increase was due primarily to the commencement ofoperations on the Hercules 208, Hercules 261 and Hercules 262, which alsohelped to generate an increase in average revenue per day per rig to $129,133from $115,556 in the same period a year ago chowdaheadz . Utilization for InternationalOffshore decreased slightly in the second quarter 2009 to 86.6% versus 87.7%in the second quarter 2008; however operating days increased to 788 from 642in the same periods, respectively, as a result of the aforementionedincremental capacity red socks tickets . Second quarter 2009 averagerevenue per day per rig decreased to $52,365 from $60,445 in the secondquarter 2008, while operating days declined to 706 from 1,612 in the sameperiods, respectively red socks t shirt . Domestic Offshore recorded an operating loss of $20.2million for the second quarter 2009 compared to operating income of $23.6million in the second quarter 2008.International Offshore revenues increased by 37% to $101.8 million in thesecond quarter 2009 compared to $74.2 million for the same period of theprevious year . The interest rate willdecline further by an additional 1.0%, to 4.0% over LIBOR as the principal onthe term loan is reduced by an additional $200.0 million to $484.3 million orless.OPERATING RESULTS DISCUSSIONOffshoreDuring the second quarter 2009, Domestic Offshore revenues decreased to $37.0million from $97.4 million during the corresponding quarter of 2008, largelyas a result of weak demand and lower average dayrates stemming from a steepreduction in exploration and production spending.