Search results for: hercules

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  • 31 January 2017
    Exploration & Production

    U.S.-based, bankrupt offshore driller, Hercules Offshore, has sold its fleet of thirteen Gulf of Mexico rigs for a little over $22 million.   After emerging from bankruptcy in November 2015, the driller filed for bankruptcy protection again in June 2016. Under the plan, all Hercules’ assets were marketed for sale with plans to place those […]

  • 10 February 2012

    World-leading low- and medium-speed engine manufacturers, Wärtsilä and MAN Diesel & Turbo, start the kick off of the next phase of the extensive, long-term HERCULES research programme. The overall vision of the programme is to achieve sustainable and safe energy production from marine power plants. This next phase is made possible by funding from the […]

  • 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 […]

  • 3 December 2010

    Two world-leading European marine engine manufacturers, MAN Diesel & Turbo and Wärtsilä Corporation, have agreed to pursue a large joint research project, the HERCULES-C project, as a continuation of the very successful HERCULES programmes for the research and development of marine engine technology. The overall vision of the HERCULES research programme is for sustainable and […]

  • 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 May 2016
    Exploration & Production

    Offshore driller Hercules Offshore, which in November last year emerged from Chapter 11 bankruptcy, has been given a deadline by Sembcorp Marine’s Jurong Shipyard in Singapore to take delivery and pay for the jack-up rig the shipyard is building for Hercules.  The newbuild jack-up rig Hercules Highlander is scheduled to work on Maersk Oil’s Culzean field in […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 27 January 2016
    Business & Finance, Exploration & Production

    Byron Energy, the operator of several blocks in the Gulf of Mexico, has cancelled a contract with Hercules Offshore for one of its rigs, and swapped it for another one.  The U.S. offshore drilling contractor Hercules Offshore informed on Tuesday in its latest fleet status report that Byron cancelled a contract it had for the jack-up […]

  • 4 December 2007

    Hercules Offshore, Inc. announced today that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008 following the completion of an existing contract commitment offshore India. […]

  • 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 […]

  • 7 April 2016
    Business & Finance, Exploration & Production

    Hercules Offshore has received a notice from Saudi Aramco extending the contract for one of its jack-up drilling rigs operating in Saudi Arabia.  According to the drilling contractor, the contract for the jack-up Hercules 266 was extended until June 30, 2016. Further, the dayrate for the Hercules 266 will remain at $63,650 per day through […]

  • 3 September 2013
    Business & Finance

    Hercules Offshore announced that it has signed a contract with Cairn India Limited for use of the Hercules Triumph (formerly Discovery Triumph) in the Indian Ocean. Total contract value is approximately $36.6 million, which includes approximately $13 million of mobilization and demobilization fees, to be earned over an estimated 110 days. Contract commencement is expected […]

  • 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 […]

  • 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 […]

  • 12 February 2015
    Business & Finance, Exploration & Production

    Hercules Offshore, a U.S.-based drilling contractor, has reported a net loss of $154 million for the fourth quarter 2014. The company’s 4Q 2013 loss was $101 million. Fourth quarter 2014 results included a pre-tax non-cash impairment charge of $117.0 million, as the company cold stacked five rigs, the Hercules 120, Hercules 200, Hercules 214, Hercules 251 and […]

  • 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 […]

  • 25 November 2015
    Business & Finance, Exploration & Production

    U.S. offshore drilling contractor Hercules Offshore has informed that one of its drilling rigs has started working for Renaissance Offshore, an oil and energy company based in Houston, Texas.  According to Hercules’ latest fleet status report on Tuesday, the Hercules 205 jack-up rig started working for Renaissance on November 2, 2015 in the U.S. Gulf of Mexico. The rig is […]

  • 15 May 2015
    Equipment

    Asian Lift, a joint venture between Keppel Offshore & Marine (Keppel O&M) and Smit Singapore, a member of the Boskalis Group of Companies, has named today, May 15, 2015, the Asian Hercules III.  According to the company, the Asian Hercules III is the largest and most versatile heavy-lift sheerlegs of its kind in the world. […]

  • 6 May 2016

    Offshore drilling contractor Hercules Offshore, which in November last year emerged from Chapter 11 bankruptcy, posted a net loss for the quarter as well as lower revenues.  The drilling contractor reported a net loss of $26.9 million, on revenue of $50.9 million for the first quarter 2016, compared to Predecessor net loss of $57.1 million, on […]

  • 10 February 2012
    Business & Finance

    World-leading low- and medium-speed engine manufacturers, Wärtsilä and MAN Diesel & Turbo, announce the kick off of the next phase of the extensive, long-term HERCULES research programme. The overall vision of the programme is to achieve sustainable and safe energy production from marine power plants. This next phase is made possible by funding from the […]