8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 14, 2010

Seahawk Drilling, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-34231	72-1269401
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

5 Greenway Plaza, Suite 2700, Houston, Texas 77046

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (713) 369-7300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure

On May 14, 2010, Seahawk Drilling, Inc. (the “Company”) is posting on its website at www.seahawkdrilling.com a report entitled “Drilling Fleet Status Report as of May 14, 2010” (the “Fleet Status Report”). A copy of the Fleet Status Report is attached hereto as Exhibit 99.1. The Company hereby incorporates by reference into this Item 7.01 the Fleet Status Report, which is furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended (“Securities Act”), unless specifically identified therein as being incorporated by reference. The Fleet Status Report provides summary information about the drilling rig status and contract information covering the Company’s fleet of offshore drilling rigs.

Item 8.01. Other Events.

On May 6, 2010, the Department of the Interior announced that no applications for drilling permits for operations on the Outer Continental Shelf will be issued until the Department of the Interior completes a safety review process of offshore drilling. It is anticipated that a report will be completed on or about May 28, 2010. Drilling operations subject to permits issued prior to April 20, 2010 are not affected by the moratorium. Additionally, it appears that drilling operations that have commenced pursuant to permits issued on or after April 20, 2010 may also continue.

All but one contract in the Company’s contracted backlog that have begun or are anticipated to begin during the moratorium have received the proper permitting to execute such work. The Company’s customers are responsible for securing permits before drilling operations are commenced and often secure the necessary permits shortly before the drilling rig arrives on the drilling location. The Seahawk 2004 drilling rig has a contract that is not yet permitted that is scheduled to begin immediately after the Seahawk 2004 completes its current job. It is possible that its current job may be completed on or before May 28, 2010.

Should the moratorium on new drilling permits be extended for a longer period of time, the Company’s rig fleet will progressively idle upon completion of its current contracts. All of the Company’s rig fleet currently works in the U.S. Gulf of Mexico and, as such, an extended moratorium will result in adverse consequences on the Company’s results of operations. Based on the preliminary timing outlined by the Department of the Interior, the Company does not expect any of its drilling rigs to secure additional contracts in the U.S. Gulf of Mexico until the moratorium is lifted. See that attached Fleet Status Report for more information.

The information and statements made in this Current Report on Form 8-K and the Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements include statements concerning estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out of service time. Such statements are subject to a number of risks, uncertainties and assumptions, including without limitation, early termination by the customer pursuant to the contract or otherwise, cancellation or completion of certain contracts earlier than expected, operational difficulties, shipyard and other delays and other factors described in the Company’s reports and other documents filed with the Securities and Exchange Commission (“SEC”), which are available free of charge at the SEC’s website at www.sec.gov or the Company’s website at www.seahawkdrilling.com . The Company cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1         Seahawk Drilling Fleet Status Report as of May 14, 2010

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SEAHAWK DRILLING, INC.
Date: May 14, 2010	By:	/S/ WILLIAM EVANS
		William Evans Vice President and Chief Accounting Officer

2

EXHIBIT INDEX

Exhibit Number	Description
99.1	Seahawk Drilling Fleet Status Report as of May 14, 2010

3

EX-99.1

Exhibit 99.1

FLEET STATUS REPORT AS OF MAY 14, 2010

Rig Name	Rig Type	Location	Status	Client	Dayrate ($US)		Estimated1 Days	Completion	Comments
U.S. GULF OF MEXICO
SEAHAWK 3000	300’MC	US GOM	Undergoing repairs				46	1-Jul-2010
SEAHAWK 2602	250’MC	US GOM	Contracted	Arena Offshore	$	35,000	27	10-Jun-2010	Permitted
			Contracted	Arena Offshore	$	40,000	34	15-Jul-2010	Permitted
SEAHAWK 2601	250’MC	US GOM	Contracted	Hilcorp	$	41,000	93	9-Aug-2010	Permitted for workover wells (estimated 60 days). Permit pending for new drilling wells
SEAHAWK 2600	250’MC	US GOM	Contracted	Peregrine	$	42,500	39	22-Jun-2010	Permitted
SEAHAWK 2505	250’MS	US GOM	Available
SEAHAWK 2504	250’MS	US GOM	Contracted	Mariner	$	32,000	4	18-May-2010	Permitted
			Contracted	Mariner	$	32,000	10	28-May-2010	Permitted
SEAHAWK 2500	250’MS	US GOM	Contracted	ADTI/Contango	$	33,000	17	31-May-2010	Permitted
			Contracted	Arena Offshore	$	35,000	70	10-Aug-2010	Permitted for 1 workover well. Permits pending for following 2 workover wells
SEAHAWK 2007	200’MC	US GOM	Contracted	Mariner	$	35,000	61	14-Jul-2010	Permitted
			Contracted	Breton	$	35,000	35	19-Aug-2010	Permit pending
SEAHAWK 2004	200’MC	US GOM	Contracted	Arena Offshore	$	34,000	13	27-May-2010	Permitted
			Contracted	Bandon Oil & Gas	$	36,000	45	12-Jul-2010	Permit pending
SEAHAWK 2001	200’MC	US GOM	Contracted	Castex	$	34,000	60	14-Jul-2010	Permitted
U.S. COLD STACKED (10)
SEAHAWK 2501	250’MS	US GOM	Cold Stacked
SEAHAWK 2502	250’MS	US GOM	Cold Stacked
SEAHAWK 2006	200’MC	US GOM	Cold Stacked
SEAHAWK 2003	200’MC	US GOM	Cold Stacked
SEAHAWK 2005	200’MC	US GOM	Cold Stacked
SEAHAWK 2503	250’MS	US GOM	Cold Stacked
SEAHAWK 2008	200’MC	US GOM	Cold Stacked
SEAHAWK 2000	200’MC	US GOM	Cold Stacked
SEAHAWK 2002	200’MC	US GOM	Cold Stacked
SEAHAWK 800	80’MC	US GOM	Cold Stacked

Changes from previous Fleet Status Report denoted in bold

¹The number of days to complete the program are estimated for U.S. well-to-well contracts and contract extensions in Mexico. The actual number of days contracted may vary from this estimate.