That utilization rate is for liftboats only. While it is down it's not a huge deal, although it will probably add up to a million less in revenue. I certainly don't see anything encouraging about the report as a whole though. As long as this company has more non-marketed rigs than working ones I don't see the stock doing anything. Except maybe going from 3.60 to 4.20. Whooptie phucking doo.
Mike, that's what I've been saying for 2 years now, not sure if you were listening. Hercules will need to show a profit, and prove to Wall Street that the turn around is happening before we see any substanial increase in share price.
That's why I'm chilling out and being patient. When the economy starts to boom again Hero will follow suit.