Houston-based Hercules Offshore signed a five-year contract with a subsidiary of Eni S.p.A. for use of the Hercules 260 in West Africa.
The dayrate under the contract will range from a minimum of US$75,000 per day when the price of Brent crude oil is $86 or less per barrel, to a maximum of $125,000 per day when the price of Brent crude oil is $125 or more per barrel. Costs for contract specific upgrades will be reimbursed by the operator.
The contract is expected to begin in early April 2015.
Image of the Hercules 260. From Hercules Offshore.