Search results for: Hercules Offshore

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  • 28 April 2011
    Business & Finance, Operations & Maintenance

    Hercules Offshore, Inc. and Seahawk Drilling, Inc. announced the completion of the asset purchase and sale previously disclosed on February 11, 2011. In accordance with the terms of the Asset Purchase Agreement, Hercules Offshore will acquire 20 jackup rigs located in the U.S. Gulf of Mexico and related assets, accounts receivable, cash, accounts payables, and […]

  • 28 April 2011
    Business & Finance

      Hercules Offshore, Inc.  and Seahawk Drilling, Inc. announced today the completion of the asset purchase and sale previously disclosed on February 11, 2011. In accordance with the terms of the Asset Purchase Agreement, Hercules Offshore will acquire 20 jackup rigs located in the U.S. Gulf of Mexico and related assets, accounts receivable, cash, accounts […]

  • 15 July 2007

    Hercules Offshore, Inc. (“Hercules Offshore”) (Nasdaq: HERO) today announced the merger consideration expected to be paid to TODCO stockholders in the merger of Hercules Offshore and TODCO, which was completed on July 11, 2007.

  • 5 December 2016
    Business & Finance, Exploration & Production

    Drilling contractor Hercules Offshore has sold two of its jack-up drilling rigs for a total of $130 million.  Hercules British Offshore, a subsidiary of Hercules Offshore, on Friday, December 2 entered into an agreement with Magni Drilling for the sale of two, 2013-built, jack-up drilling rigs, Hercules Triumph and Hercules Resilience. Hercules said on Friday that […]

  • 31 March 2016
    Exploration & Production

    Offshore driller Hercules Offshore, which in November last year emerged from Chapter 11 bankruptcy, expects, as all of its peers, a difficult business environment ahead. As it has been repeatedly but accurately said, the offshore drillers have been impacted hard by a perfect storm of low oil prices, cuts in spending by oil majors, lack […]

  • 2 June 2015
    Business & Finance, Exploration & Production

    After Hercules Offshore yesterday said that Saudi Aramco would slash the dayrates for three Hercules Offshore’s jack-up rigs, the company’s has issued a separate statement providing more details. The Saudi Arabian oil company yesterday withdrew its previously issued contract termination for Hercules 261 jack-up rig, but in turn decided to significantly reduce the rig dayrates for Hercules […]

  • 30 July 2012

    Hercules Offshore, Inc. announced today that Hercules Offshore employee Captain Louis Dubois has been awarded a U.S. Coast Guard Meritorious Public Service Award for his actions during the previously reported emergency evacuation of the Mako, a 175′ class liftboat, off the coast of Nigeria as a result of a fire that originated aboard an adjacent […]

  • 1 June 2015
    Business & Finance, Exploration & Production

    Hercules Offshore, Inc., a U.S.-based offshore drilling contractor, has received a notice from Saudi Aramco withdrawing the previously issued notice of contract termination for the Hercules 261 jack-up rig.  To remind, Hercules Offshore first received the notice of termination from Saudi Aramco in February 2015 and the termination was supposed to take place in March. Saudi […]

  • 11 March 2016
    Exploration & Production

    Offshore driller Hercules Offshore has seen cuts in dayrates for three of its drilling rigs operating in Saudi Arabia. Hercules Offshore on Thursday said that it received from Saudi Aramco on March 9, 2016, a notice reducing the dayrates under its five year contracts for the Hercules 261 and Hercules 262 from $67,000 per day to $63,650 […]

  • 29 April 2015

    U.S. offshore drilling contractor Hercules Offshore has reported a net loss of $57 million for the first quarter 2015, compared to net income of $19.9 million realized in the corresponding quarter of 2014. Revenue fell to $122.6 million versus $257.7 million a year ago. These are challenging times for offshore drillers as the oil prices […]

  • 14 September 2011
    Business & Finance

    Hercules Offshore, Inc. announced today that it has acquired an additional 6.1 million shares of Discovery Offshore S.A. (“Discovery Offshore”) at an average price of NOK9.02 per share. With this latest purchase, Hercules Offshore has invested a total of approximately $34.1 million in Discovery Offshore, and currently holds a 28% ownership interest in Discovery Offshore. […]

  • 5 November 2015

    U.S. offshore drilling contractor Hercules Offshore has reported a deeper net loss and lower revenues for the third quarter of 2015 compared to those posted same time last year.  The offshore drilling contractor posted on Thursday a net loss of $95.4 million, compared to a net loss of $88.6 million in the corresponding period last year. Hercules’ […]

  • 11 February 2016
    Exploration & Production

    Hercules Offshore, Inc., a U.S. offshore driller is exploring its options, including a merger or a sale of the company. In a statement on Thursday, the company said it established a special comprised of all the independent members of the Board of Directors of the companyto consider and explore various strategic alternatives potentially available to the company […]

  • 27 May 2016
    Exploration & Production

    Hercules Offshore, a struggling drilling contractor which recently emerged from bankruptcy, has reached a restructuring deal with lenders and said it would start the sale of its assets. The company today said that it has entered into a Restructuring Support Agreement (“RSA”) with lenders holding approximately 99 percent of the indebtedness under its first lien […]

  • 11 July 2007

    Hercules Offshore, Inc. (‘Hercules Offshore’, ‘the Company’ Nasdaq: HERO) today announced the completion of its acquisition of TODCO as the transaction was finalized today following approvals by the stockholders of both companies.

  • 12 July 2016
    Exploration & Production

    Hercules Offshore, a struggling U.S. offshore drilling contractor, has sold a jack-up drilling rig to an undisclosed buyer. The company on Monday said its subsidiary, Hercules International Drilling Ltd., entered into an agreement to sell the Hercules 267 to an undisclosed buyer for $3.16 million. “The sale is expected to close imminently, subject to the […]

  • 26 February 2015
    Exploration & Production

    After it has been announced that Diamond Offshore is facing early termination for several of its rig contracts, another U.S.-based drilling contractor is facing a similar faith. Namely, Hercules Offshore has received a notice from Saudi Arabian oil company Saudi Aramco terminating its drilling contract for the Hercules 261 jack-up rig. The termination is expected to take […]

  • 1 May 2015
    Exploration & Production

    Hercules Offshore, a U.S.-based offshore drilling contractor has received a notice from Saudi Aramco extending the previously announced termination date for one of its jack-up rigs. The termination for the Hercules 261 unit has now been postponed to May 31, 2015. “As previously disclosed, we are in the process of seeking a basis for continuing the […]

  • 3 October 2011
    Business & Finance

    Hercules Offshore today announced that the Starfish, a 140 class liftboat, capsized after being struck by multiple waterspouts late in the evening on September 30, 2011. The five crewmembers aboard evacuated the vessel and were rescued at sea shortly after the incident. The crewmembers were treated for minor injuries and released from a Houma, Louisiana […]

  • 9 November 2015
    Business & Finance, Exploration & Production

    Hercules Offshore, a Houston-headquartered offshore drilling contractor, has completed its financial restructuring and emerged from Chapter 11 of the U.S. Bankruptcy Code. Also, funding of the company’s new $450 million senior secured credit facility has been completed.  Hercules in August filed a pre-packaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code to continue […]

  • 9 August 2012
    Business & Finance

    Discovery Offshore S.A. announced today that Hercules Offshore Inc.  has on 8 August 2012 acquired 2,658,500 shares in Discovery Offshore at an average price of approximately NOK9.50 per share. Following the acquisition, Hercules Offshore holds 21,012,834 shares in the Company, corresponding to 32.1% of the share capital. Two members of the Discovery Offshore Board are […]

  • 26 August 2015
    Business & Finance, Exploration & Production

    Hercules Offshore, an offshore drilling contractor, has been awarded a 20-day contract with Italian oil company Eni in the Gulf of Mexico.  Hercules’ 1979-built jack-up rig of a Bethlehem JU-200-MC design, the Hercules 205, received a contract from Eni with a $59,000-61,000 dayrate. According to Hercules’ latest fleet status report, the contract start date was August […]