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Exhibit 99.1 GULFMARK OFFSHORE, INC.
Contract coverage report for 2001 and other information as
of December 4, 2000
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YEAR 2001 CONTRACT COVER STATUS AS OF DECEMBER 4, 2000
Percent of days under firm contract by region:
<TABLE>
<CAPTION>
<S> <C>
North Sea. . . . . . . . . . . . . . . . . . . . . 70.1%
Southeast Asia . . . . . . . . . . . . . . . . . . 23.2
Brazil . . . . . . . . . . . . . . . . . . . . . . 95.7
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Total Average 55.5%
Total EBITDA* related to the above contracts . . . $28.5 million
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*Operating earnings before application of depreciation, interest, taxes and
overhead allocation
The above reflects the early release of the Highland Legend beginning
in December 2000 for which the Company will recognize approximately $0.8
million in cancellation fees during the quarter ended December 31, 2000.
The vessel was released due to the consolidation of North Sea operations
by several operators.
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YEAR 2001 CAPITAL EXPENDITURES ESTIMATE ($ IN MILLIONS)
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<CAPTION>
<S> <C>
Newbuild Program. . . . . . . . . . . . $25.7
Drydocking (13 vessels) . . . . . . . . 3.1
Other capital expenditures. . . . . . . 2.8
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Total . . . . . . . . . . . . . . . $31.6
</TABLE>
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AVERAGE AGE OF OWNED VESSELS BY REGION
<TABLE>
<CAPTION>
Years
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<S> <C>
North Sea . . . . . . . . . . . . . . 11.9
Southeast Asia. . . . . . . . . . . . 18.8
Brazil. . . . . . . . . . . . . . . . 13.9
</TABLE>
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