Hercules Offshore Announces Liftboat in Nigeria Likely Lost in Fire

Hercules Offshore today announced that the Mako, a 175′ class liftboat in Nigeria, was engulfed by a fire that originated on a third-party rig, the KS Endeavor, during the early morning hours on January 16, 2012.

The Mako was providing excess storage services adjacent to the KS Endeavor drilling rig at the time of the incident. The incident occurred off the coast of Nigeria, approximately 250 kilometers west of Port Harcourt. All 27 personnel aboard the Mako were safely rescued and transported to a local clinic for medical evaluation and treatment. No major injuries have been reported.

At this time, the Company has not been able to confirm the extent of the damage to the Mako, although visual indication from Company employees at the site indicated that the vessel sustained significant damage. The vessel has an insured value of $8.0 million, subject to a $1.0 million deductible. The deductible would not apply in the event the vessel is a total loss. The Company also carries removal of wreck insurance, subject to a $250,000 deductible.

The Company has notified the appropriate authorities, including the United States Coast Guard.

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World Maritime News Staff, January 17, 2012