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) July 29, 2011

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 July 29, 2011, the Debtors filed their monthly operating report for the period from June 1, 2011 to June 30, 2011 (the “Monthly Operating Report”) with the Bankruptcy Court. The Monthly Operating Report is attached hereto as Exhibit 99.1 and is incorporated by reference herein. This Current Report on Form 8-K, including Exhibit 99.1 being furnished as part of this report, will not be deemed an admission as to the materiality of any information required to be disclosed solely by Regulation FD.

All documents filed in connection with the Bankruptcy Case, including the Monthly Operating Report, are publicly available and may be accessed free of charge at the website of the Debtors’ Claims, Notice and Balloting Agent, Kurtzman Carson Consultants, LLC, http://www.kccllc.net/seahawk.

The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report contains consolidated information regarding the Debtors and does not contain information regarding the non-Debtor subsidiaries of the Company. The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was prepared in accordance with Generally Accepted Accounting Principles in the United States, except as otherwise noted in the Monthly Operating Report, is in a format prescribed by applicable bankruptcy laws, and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from those required in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and such information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 and the related exhibit incorporated herein by reference shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

1

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Monthly Operating Report for the period from June 1, 2011 to June 30, 2011, filed with the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division

2

SIGNATURE

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

	SEAHAWK DRILLING, INC.
Date: July 29, 2011	By:	/S/ JAMES R. EASTER
		James R. Easter
		President and Chief Executive Officer

3

EXHIBIT INDEX

Exhibit Number	Description
99.1	Monthly Operating Report for the period from June 1, 2011 to June 30, 2011, filed with the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division

EX-99.1

Exhibit 99.1

United States Bankruptcy Court

Southern District of Texas

Corpus Christi Division

Case Name:      Seahawk Drilling Inc., Debtor in Possession	(1) (2) (3) (7)	Petition Date:	2/11/2011
Case Number:  11-20089

Monthly Operating Report Summary for Month - June / Year 2011

	Month			Month			Month (6)			Month			Month
Description	2/12/11 to 2/28/11			3/31/2011			4/30/2011			5/31/2011			6/30/2011
Revenues		4,231,305			9,355,194			8,216,364			—			—
Income Before Interest, Taxes, Depr., Amort.		(7,035,345	)		(2,797,229	)		55,046,945			10,536,106			(18,258,583	)
Net Income (Loss)		(7,175,571	)		(3,617,185	)		54,718,912			10,294,856			(18,583,724	)
Payments to Insiders		(1,969,502	)		(103,914	)		(161,708	)		(328,583	)		(118,455	)
Payments to Professionals		—			(75,000	)		(3,932,727	)		(1,695,250	)		(867,733	)
Total Disbursements		(14,207,890	)		(9,936,438	)		(30,251,975	)		(12,921,160	)		(6,192,494	)

						Circle One
	Required Insurance Maintained As of Signature Date		Exp Date	Are all accounts receivable being collected within terms?		Yes    No    (4)
Casualty	Yes x	No ¨	6/30/2011	Are all post-petition liabilities, including taxes, being paid within terms?		Yes    No
Liability	Yes x	No ¨	6/30/2011	Have any pre-petition liabilities been paid?		Yes    No
Vehicle	Yes x	No ¨	6/30/2011	If so, describe:	Only as approved in 1st day order and interim DIP order; taxing authorities, insurance,
Workers	Yes x	No ¨	6/30/2011		employee benefits /expense reports, Natixis bank group
Other	Yes x	No ¨	6/30/2011	Are all funds received being deposited into DIP bank accounts?		Yes    No
				Were any assets disposed of outside the normal course of business?		Yes    No
				If so, describe:	March: sale of Sonora assets; April: completed asset sale to Hercules (see footnote 6 below)
				Are all U.S. Trustee Quarterly Fee Payments current?		Yes    No    (5)

What is the status of your Plan of           Reorganization?	Filed Friday, May 20, 2011. Disclosure statement hearing
	was on July 7, 2011.

     Confirmation date hearing will be on August 30, 2011.

Attorney Name	Berry D. Spears	I certify under penalty of perjury that the following complete Monthly Operating Report (MOR) is true and correct.
Firm Name	Fulbright & Jaworski L.L.P.
Address	1301 McKinney	/s/ James R. Easter	Title	President and CEO
	Suite 5100	(Original Signature)
City, State, ZIP	Houston, TX 77010
Telephone/Fax	713.651.5151	James R. Easter		7/29/2011
		(Print Name of Signatory)		(Date)

(1) The jointly administered Debtors are authorized to file monthly operating reports on a consolidated basis, and have disbursements broken down by case number on Exhibit A attached; the following entities are included in the joint administration: Seahawk Drilling, Inc., Seahawk Global Holdings, LLC, Seahawk Drilling Management, LLC, Seahawk Drilling, LLC, Seahawk Drilling USA, LLC, Seahawk Offshore Management, LLC, Energy Supply International, LLC, Seahawk Mexico Holdings, LLC.

(2) By agreement with the US Trustee, these reports are to be provided 30 days following each month end.

(3) Prepared according to GAAP, unless otherwise noted

(4) Outstanding receivables were collected within the same time period consistent with our pre-filing experience. However, effective 4/27, all receivables were sold to Hercules Offshore, Inc., with the exception of those related to Great GulfCan.

(5) Debtor believes as of July 29th, all payments are current and up to date

(6) On April 27, 2011 the Debtors sold all drilling assets and related working capital assets to Hercules Offshore, Inc. under the court approved asset purchase agreement and received $25,000,012 cash and 22,321,425 shares of HERO stock. April period contains $59.2M gain resulting from the sale.

(7) Effective in April, the company has reclassified all rigs previously recorded as Assets Held for Sale to PP&E and reflected the change from the petition date.

MOR 1 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al (4)
Case Number:	11-20089

Comparative Balance Sheets

	Filing			Month			Month			Month (1)			Month			Month
Description	Date*			2/28/2011			3/31/2011			4/30/2011			5/31/2011			6/30/2011
ASSETS
Cash and Cash Equivalents	$	4,071,237		$	3,300,277		$	2,658,364		$	14,440,970		$	15,289,873		$	14,072,460
Trade Receivables, net		17,987,928			16,798,437			16,271,656			—			—			—
Inventory		—			—			—			—			—			—
Deferred Income Taxes		—			—			—			—			—			—
Due from Pride		1,440,670			1,440,670			1,440,670			1,440,670			1,440,670			1,440,670
Insurance Claims		2,072,172			1,922,467			1,925,741			1,927,134			1,642,337			1,516,894
Other Current Assets		7,346,857			6,774,007			2,513,034			1,673,079			1,626,739			1,576,739
ST Investments (3)		—			—			—			126,785,694			139,508,906			122,991,052
Assets Held for Sale		14,550,000			14,550,000			14,898,691			—			—			—
Total Current Assets		47,468,864			44,785,858			39,708,156			146,267,546			159,508,525			141,597,815
Property, Plant & Equipment (Net)		76,157,375			75,751,036			75,081,771			2,311,788			2,263,296			2,214,804
Other Long Term Assets		—			—			—			—			—			—
Deferred Cost - Long Term Portion		—			—			—			—			—			—
Goodwill		—			—			—			—			—			—
Total Other Long Term Assets		—			—			—			—			—			—
TOTAL ASSETS	$	123,626,240		$	120,536,894		$	114,789,927		$	148,579,334		$	161,771,820		$	143,812,619
LIABILITIES & SHAREHOLDERS EQUITY
Pre-petition Liabilities
Accounts Payable		12,660,585			9,756,143			9,440,014			425,129			399,567			364,606
Pride		17,181,355			17,224,790			17,224,790			17,224,790			17,224,790			17,224,790
Notes Payable - Secured		—			—			—			—			—			—
Priority Debt		—			—			—			—			—			—
Payoll Taxes		86,667			212,993			—			—			—			—
Unsecured Debt		—			—			—			—			—			—
Other		36,274,816			31,908,482			31,315,471			30,670,152			28,223,933			28,487,546
Total Pre-petition Liabilities		66,203,423			59,102,408			57,980,274			48,320,071			45,848,290			46,076,942
Post-petition Liabilities
Accounts Payable		—			358,387			748,671			641,622			1,857,556			1,855,162
Due to Pride		—			184,235			627,937			868,735			1,223,657			1,574,040
Accrued Expenses		—			7,103,468			8,568,763			9,550,416			4,732,202			4,578,064
Current Debt		17,900,000			20,726,911			18,114,402			5,750,000			14,383,205			14,536,899
Other Current Liabilities		—			701,772			0			0			0			0
Total Post-petition Liabilities		17,900,000			29,074,774			28,059,773			16,810,773			22,196,620			22,544,166
Total Current Liabilities		84,103,423			88,177,182			86,040,047			65,130,844			68,044,910			68,621,107
Pre-petition Long-Term Liabilities:
Long-Term Accruals and Provisions		2,119,421			2,128,165			2,144,110			2,123,809			2,139,239			2,155,698
Intercompany Accounts Payable (2)		359,108,881			359,112,603			359,104,011			359,104,011			359,072,145			359,104,011
Deferred Income Taxes - Long Term		—			—			—			—			—			—
Total Long Term Liabilities		361,228,302			361,240,768			361,248,121			361,227,819			361,211,384			361,259,709
TOTAL LIABILITIES		445,331,725			449,417,950			447,288,168			426,358,663			429,256,294			429,880,816
Total Shareholders Equity		(321,705,485	)		(328,881,056	)		(332,498,241	)		(277,779,330	)		(267,484,474	)		(286,068,198	)
TOTAL LIABILITIES & SHAREHOLDERS EQUITY	$	123,626,240		$	120,536,894		$	114,789,927		$	148,579,334		$	161,771,820		$	143,812,619

* Per Schedules and Statement of Affairs

(1) April 22, 2011 was the claims bar date in the debtors cases, excluding governmental agencies. The debtors are now reconciling claims to those scheduled.

(2) For non-governmental agnecies, claims bar date was April 22, 2011. Debtors expect to eliminate Intercompany payables. Will be reconciled and reported according to GAAP in subsequent months.

(3) 22.3 Million shares of Hercules stock at $5.68/share at market close on April 27, 2011. The stock is revalued each month at the closing price on the last trading day of the month.

(4) Effective in April, the company has reclassified all rigs previously recorded as Assets Held for Sale to PP&E and reflected the change from the petition date.

MOR 2 / 3 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al (2)
Case Number:	11-20089

Schedule of Post-Petition Liabilities

	Month		Month		Month		Month		Month
Description	2/12/11 to 2/28/11		3/31/2011		4/30/2011		5/31/2011		6/30/2011
Pre-Petition Liabilities:
Trade accounts payable	$	9,756,143	$	9,440,014	$	425,129	$	399,567	$	364,606
Due to pride		17,224,790		17,224,790		17,224,790		17,224,790		17,224,790
Short-term debt - secured		—		—		—		—		—
Accrued expenses and other current liabilities
Contingency claims		11,561,084		11,734,606		11,734,606		11,618,831		11,933,724
Payroll and benefits		—		—		—		—		—
Accrued medical insurance		4,688,454		4,214,381		3,671,518		3,172,844		3,121,564
Payroll taxes		212,993		—		—		—		—
Other taxes		25,000		25,000		25,000		25,000		25,000
Deferred mobilization revenue		86,667		—		—		—		—
Customer advances		—		—		—		—		—
Accrued rent		667,257		667,257		667,257		667,257		667,257
Accrued professional fees		49,005		2,845		—		—		—
Other accrued expenses		14,831,015		14,671,381		14,571,771		12,740,000		12,740,000
Total accrued expenses and other current liabilities		32,121,475		31,315,471		30,670,152		28,223,933		28,487,546
Long-term accruals and provisions		2,128,165		2,144,110		2,123,809		2,139,239		2,155,698
Intercompany accounts payable (1)		359,112,603		359,104,011		359,104,011		359,072,145		359,104,011
Total Pre-Petition Liabilities		420,343,176		419,228,395		409,547,890		407,059,674		407,336,651
Post-Petition Liabilities:
Trade Accounts Payable		358,387		748,671		641,622		1,857,556		1,855,162
Due to Pride		184,235		627,937		868,735		1,223,657		1,574,040
Short-term debt		20,726,911		18,114,402		5,750,000		14,383,205		14,536,899
Accrued expenses and other current liabilities
Contingency claims		—		34,433		32,863		147,067		119,482
Payroll and benefits		630,030		998,717		842,918		64,235		84,045
Accrued medical insurance		—		—		—		—		—
Payroll taxes (3)		567,905		659,101		795,854		720,169		100,334
Other taxes		95,911		120,911		295,911		295,911		295,911
Deferred mobilization revenue		256,806		—		—		—		—
Customer advances		358,300		—		—		—		—
Accrued rent		—		23,009		46,017		69,026		209,546
Accrued professional fees		1,053,705		1,141,301		2,760,036		1,028,539		1,273,998
Other accrued expenses		4,842,583		5,591,291		4,776,817		2,407,255		2,494,748
Total accrued expenses and other current liabilities		7,805,240		8,568,763		9,550,416		4,732,202		4,578,064
Long-term accruals and provisions		—		—		—		—		—
Intercompany accounts payable		—		—		—		—		—
Total Post-Petition Liabilities	$	29,074,774	$	28,059,773	$	16,810,773	$	22,196,621	$	22,544,166

(1) Claims bar date was April 22, 2011 for non-governmental agencies. Expect to eliminate Intercompany payable. Will be reconciled and reported according to GAAP in subsequent months.

(2) Effective in April, the company has reclassified all rigs previously recorded as Assets Held for Sale to PP&E and reflected the change from the petition date.

(3) Company adjusted accrual balance in June after review of current data.

MOR 4 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Aging of Post-Petition Liabilities as of June 30, 2011

Days	Total	Trade Accounts	Federal Taxes	State Taxes	Ad Valorem, Other Taxes
0-30	1,673,651	1,563,386	110,521	(256)
31-60	7,515	7,515
61-90	165,069	—		(9,931)	175,000
91+	405,172	284,261			120,911
TOTAL SEAHAWK	2,251,407	1,855,162	110,521	(10,187)	295,911

Aging of Accounts Receivable

Month	Month 2/28/2011	Month 3/31/2011	Month 4/30/2011	Month 5/31/2011	Month 6/30/2011
0-30	13,302,498	12,019,703	—	—	—
31-60	3,249,761	4,349,870	—	—	—
61-90	292,314	3,001	—	—	—
91+	(46,136)	(100,919)	—	—	—
TOTAL SEAHAWK	16,798,437	16,271,656	—	—	—

MOR 5 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al (3)
Case Number:	11-20089

Statement of Income (Loss)

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month (1) 4/30/2011			Month 5/31/2011			Month 6/30/2011			Filing to Date
Operating Revenue		4,267,470			8,609,672			7,975,567			—			—			20,852,709
Mob/Demob/Reimbursable Revenue		(36,165	)		745,522			240,797			—			—			950,153
Total Revenues		4,231,305			9,355,194			8,216,364			—			—			21,802,863
Costs and Expenses
Operating Costs
Wages & Burden (2)		1,359,019			3,385,738			3,653,911			(333,236	)		342,773			8,408,206
Repairs & Maintenance / Supplies		337,772			620,916			473,727			—			8,477			1,440,892
Rental Expenses		168,731			(58,929	)		183,140			—			—			292,942
Other Operating Costs		738,915			1,217,365			2,306,847			—			—			4,263,126
Mob/Demob/Reimbursable Expense		253,764			561,216			(50,166	)		—			—			764,813
Other Direct Costs		619,881			2,760,362			136,664			35,766			—			3,552,673
Total Operating Costs		3,478,080			8,486,668			6,704,122			(297,470	)		351,251			18,722,652
Depreciation & Amortization		406,340			669,265			151,954			48,492			48,492			1,324,543
General & Administrative		7,261,188			2,616,530			5,626,770			2,175,843			1,096,440			18,776,771
(Gain) Loss on Sale of Fixed Assets		—			—			(59,233,909	)		29,800			—			(59,204,109	)
Impairment of Fixed Assets		—			—			(200,018	)		—			—			(200,018	)
Operating Income (Loss)		(6,914,303	)		(2,417,269	)		55,167,444			(1,956,665	)		(1,496,183	)		42,383,024
Other Income (Expense)
Interest Income (Expense)		(131,481	)		(804,012	)		(312,603	)		(257,686	)		(276,817	)		(1,782,598	)
Other Income (Expense) (4)		(121,042	)		(379,960	)		(120,499	)		12,492,771			(16,762,400	)		(4,891,130	)
Income Before Income Taxes		(7,166,827	)		(3,601,240	)		54,734,342			10,278,420			(18,535,399	)		35,709,296
Income Tax Expense (Benefit)		8,744			15,945			15,430			(16,435	)		48,325			72,008
Income (Loss) from Continuing Operations		(7,175,571	)		(3,617,185	)		54,718,912			10,294,856			(18,583,724	)		35,637,287

(1) On April 27, 2011 the Debtors sold all drilling assets and related working capital assets to Hercules Offshore, Inc. under the court approved asset purchase agreement and received $25,000,012 cash and 22,321,425 shares

(2) Credit relates to payroll being overaccrued in April with the corrections flowing through in May

(3) Effective in April, the company has reclassified all rigs previously recorded as Assets Held for Sale to PP&E and reflected the change from the petition date.

(4) Beginning in May, includes gain/(loss) from the revaluation of the 22.3 million HERO shares held as short term investment.

MOR 6 Reviewed 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Statement of Cash Flows

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 4/30/2011			Month 5/31/2011			Month 6/30/2011
Beginning Cash Balance		4,071,237			3,300,277			2,658,364			14,440,970			15,289,873
Contract Drilling		6,035,902			9,180,203			10,852,454			4,952,768			4,550,950	(1)
Other		813,007			114,322			25,031,987			317,294			424,133
Total Cash Receipts		6,848,909			9,294,525			35,884,441			5,270,062			4,975,083
Operating Expenses		(1,022,663	)		(2,829,125	)		(2,791,900	)		(1,227,027	)		(325,913	)
Payroll		(2,298,422	)		(4,030,567	)		(3,174,576	)		(1,190,403	)		(447,899	)
Insurance		(3,520,032	)		—			—						—
AR Collections remitted to Hercules		—			—			—			(6,930,633	)		(4,550,950	)
Ordinary Course Professionals		—			—			—
Rent		—			—			—
G&A and Other		—			—			—
Total Cash Disbursements		(6,841,117	)		(6,859,692	)		(5,966,476	)		(9,348,063	)		(5,324,762	)
Net Cash Flow From Operations		7,792			2,434,833			29,917,965			(4,078,001	)		(349,679	)
Restructuring Related
CIC and LTIP Payments		(2,305,217	)		—			(68,461	)		(1,877,846	)		—
Restructuring Professionals		—			(75,000	)		(3,932,727	)		(1,695,250	)		(867,733	)
U.S. Trustee		—			—			—						—
Total Restructuring Related		(2,305,217	)		(75,000	)		(4,001,188	)		(3,573,096	)		(867,733	)
Financing Fees
Natixis Facility Repayment		(17,900,000	)		—			—						—
DIP Fees		—			—			(1,577,465	)					—
DIP Interest		—			(389,237	)		(192,203	)					—
DIP Borrowings (Repayment) (2)		19,426,465			(2,612,509	)		(12,364,503	)		8,500,000			—
Total Financing Payments / Borrowing		1,526,465			(3,001,746	)		(14,134,171	)		8,500,000			—
Ending Cash Balance		3,300,277			2,658,364			14,440,970			15,289,873			14,072,460

(1) Although all rig assets and accounts receivable have been sold, customers have continued to remit payment to Seahawk Drilling, Inc. The payments are subsequently forwarded to Hercules, who now own those receivables.

(2) DE Shaw DIP loan was repaid ($18.1M) during April and received $5.8M under the new Hayman DIP agreement. Received an additional $8.5M in May from Hayman.

MOR 7 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Cash Account Reconciliation - Month of 6/1/11 - 6/30/11

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g. salary, commission, bonus, etc.) (Attach additional pages as necessary).

Bank Name Account Number Account Type	30647841 SDI			Checking 38749957 SDI			38749965 SDI		30803656 SH Drlg LLC		Checkng 38751256 SH Drlg LLC			38751264 SH Drlg LLC		30648414 SH Drlg LLC		30806072 ESI		Checking 38803853 ESI
Bank Balance		9,641,815			0			0		0		0			0		0		0		0
Deposit in Transit		0			0			0		0		0			0		0		0		0
Outstanding Checks		0			(1,335,880	)		0		0		(1,952	)		0		0		0		0
Adjustment Bank Balance		0			0			0		0		0			0		0		0		0
Beginning Cash - Per Books		9,641,815			(1,335,880	)		0		0		(1,952	)		0		0		0		0
Receipts*		4,975,083			0			0		0		0			0		0		0		0
Intercompany		0			0			0		0		0			0		0		0		0
Transfers Between Accounts		(2,101,067	)		1,757,025			0		0		78,788			0		0		0		0
— DIP Financing		0			0			0		0		0			0		0		0		0
— Checks / Other Disbursements		(4,784,117	)		(1,056,008	)		0		0		(87,116	)		0		0		0		0
— Adjustment		0			0			0		0		0			0		0		0		0
Sub-Total Disbursements		(4,784,117	)		(1,056,008	)		0		0		(87,116	)		0		0		0		0
Ending Cash - Per Books *		7,731,714			(634,863	)		0		0		(10,280	)		0		0		0		0

Bank Name Account Number Account Type	30765063 SDM			38751248 SDM		30806099 SDM		Checking 38803845 SDM			Encore 303093849 SH Mx Holdings		Encore 30327498 SDI		Total
Bank Balance		0			0		0		0			0		6,987,922		16,629,738
Deposit in Transit		0			0		0		0			0		0		0
Outstanding Checks		0			0		0		(2,033	)		0		0		(1,339,865	)
Adjustment Bank Balance		0			0		0		0			0		0		0
Beginning Cash - Per Books		0			0		0		(2,033	)		0		6,987,922		15,289,873
Receipts*		0			0		0		0			0		0		4,975,083
Intercompany		0			0		0		0			0		0		0
Transfers Between Accounts		265,254			0		0		0			0		0		0
— DIP Financing		0			0		0		0			0		0		0
— Checks / Other Disbursements		(265,254	)		0		0		0			0		0		(6,192,495	)
— Adjustment		0			0		0		0			0		0		0
Sub-Total Disbursements		(265,254	)		0		0		0			0		0		(6,192,495	)
Ending Cash - Per Books *		(0	)		0		0		(2,033	)		0		6,987,922		14,072,460

* Numbers should balance (match) Total Receipts and Total Disbursement lines on MOR 7.

MOR 8 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Payments to Insiders and Professionals

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g. salary, commission, bonus, etc.) (Attach additional pages as necessary).

INSIDERS: NAME / COMP TYPE	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 4/30/2011		Month 5/31/2011		Month 6/30/2011
1. Randall D. Stilley / Salaries & Wages		24,128		48,256		48,256		24,128		—
Randall D. Stilley / Restricted Stock Vesting, Non-cash		740,889		—		—		—		—
Randall D. Stilley / Expense Reimbursement		9,948		—		4,479		662		662
2. William C. Hoffman / Salaries & Wages		15,432		30,865		30,865		15,432		—
William C. Hoffman / Restricted Stock Vesting, Non-cash		445,084		—		—		—		—
3. Alejandro Cestero / Salaries & Wages		5,499		—		—		—		—
Alejandro Cestero / PTO Payout		2,909		—		—		—		—
Alejandro Cestero / Restricted Stock Vesting, Non-cash		179,053		—		—		—		—
Alejandro Cestero / Expense Reimbursement		40		—		—		—		145
4. Raymond Gonzales / Salaries & Wages		4,855		—		—		—		—
Raymond Gonzales / PTO Payout		1,831		—		—		—		—
Raymond Gonzales / Restricted Stock Vesting, Non-cash		46,500		—		—		—		—
5. James R. Easter / Salaries & Wages		12,397		24,794		24,794		24,794		32,486
James R. Easter / Restricted Stock Vesting, Non-cash		116,241		—		—		—		—
James R. Easter / Expense Reimbursement		120		—		1,082		2,489		—
6. Robert E. Moore / Salaries & Wages		5,048		—		—		—		—
Robert E. Moore / PTO Payout		2,654		—		—		—		—
Robert E. Moore / Restricted Stock Vesting, Non-cash		69,750		—		—		—		—
7. Stephen Snider / Board of Directors Restricted Stock Vesting, Non-cash		78,101		—		—				—
8. Franklin F. Myers / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—		—		—		—
Franklin F. Myers / Salaries & Wages		—		—		17,411		12,500		12,500
9. Ed P. Segner III / Board of Directors Restricted Stock Vesting, Non-cash		25,910		—		—		—		—
Ed P. Segner III / Salaries & Wages		—		—		17,411		12,500		12,500
10. Mark E. Baldwin / Board of Directors Restricted Stock Vesting, Non-cash		25,910		—		—		—		—
11. Richard J. Alario / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—		—		—		—
12. John T. Nesser III / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—		—		—		—
John T. Nesser / Salaries & Wages		—		—		17,411		12,500		12,500
13. Martha R. Vance / Salaries & Wages		—		—		—		110,260		38,403
14. Mark D. Denny / Salaries & Wages (1)		—		—		—		113,318		9,260
TOTAL INSIDERS		1,969,502		103,914		161,708		328,583		118,455
PROFESSIONALS	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 4/30/2011		Month 5/31/2011		Month 6/30/2011
1. Simmons & Co.				75,000		2,197,250
2 Alvarez & Marsal						500,000				735,646
3 Fulbright & Jaworski						487,268		637,651		—
4 Akin Gump						96,021		650,745		—
5 Heller, Draper, Hayden, Patrick & Horn, LLC						150,087		—		124,708
6 Jones Day						120,000		45,000		—
7 Vinson & Elkins LLP						329,672		6,417		—
8 Jordan, Hyden, Womble, Culbreth & Holzer, PC						52,429		16,626		7,380
9. Kurtzman Carson Consultants LLC								224,806		—
10. Duff & Phelps Securities, LLC								114,004		—
TOTAL PROFESSIONALS		—		75,000		3,932,727		1,695,250		867,733

(1) Mark Denny was VP from May 2, 2011 through June 14, 2011.

MOR 9 Revised 7/27/2011

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Exhibit A - Disbursements

			Month 2/12/11 to  2/28/11			Month 3/31/2011			Month 4/30/2011			Month 5/31/2011			Month 6/30/2011
Entity	Case No.
SEAHAWK DRILLING LLC		11-20088		(25,679	)		(238,901	)		(893,963	)		(131,215	)		(89,882	)
SEAHAWK DRILLING INC.		11-20089		(9,647,089	)		(5,882,454	)		(25,044,627	)		(9,710,098	)		(5,837,358	)
SEAHAWK MEXICO HOLDINGS LLC		11-20090		—			—			—			—			—
SEAHAWK DRILLING MANAGEMENT LLC		11-20091		(3,265,300	)		(528,580	)		(605,006	)		(2,371,654	)		(265,254	)
SEAHAWK OFFSHORE MANAGEMENT LLC		11-20092		(1,269,822	)		(3,149,377	)		(3,041,015	)		(708,193	)		—
ENERGY SUPPLY INTERNATIONAL LLC		11-20093		—			(137,126	)		(667,365	)		—			—
SEAHAWK GLOBAL HOLDINGS LLC		11-20094		—			—			—			—			—
SEAHAWK DRILLING USA LLC		11-20095		—			—			—			—			—
Total Disbursements (same as MOR-1 disbursements)				(14,207,890	)		(9,936,438	)		(30,251,975	)		(12,921,160	)		(6,192,494	)