Hercules Offshore News

HOUSTON &#8212 Hercules Offshore Inc., which provides rigs to oil and gas drillers in areas such as the Gulf of Mexico, said Thursday that its losses more than doubled in the first quarter as overseas shipyard projects led to significant downtime for its rigs.

During this three-year period, the company expects to generate total revenues of approximately $160.0 million, including a lump-sum mobilization fee.A says, "By closing early on the rig acquisition and quickly securing access to a dry tow vessel, we gain greater operational flexibility to perform the required upgrade work and deliver the rig on a ... (more)

Hercules Offshore Inc., Houston, today announced that it has priced a private placement of $300,000,000 aggregate principal amount of senior secured notes due 2017, which will bear an interest rate of 7.125% per annum.A The company also announced that it has priced a private placement of $200,000,000 aggregate principal amount of senior notes due ... (more)