North Atlantic Drilling Ltd. Has been awarded a drilling contract with Siccar Point Energy E&P Limited for the Seadrill Ltd., semisubmersible West Hercules to drill and test the Cambo discovery offshore the UK West of Shetland. Drilling is scheduled to begin 1 April 2018…
Vantage Drilling International has acquired the Hercules 260, a Marathon LeTourneau Class jackup drilling unit, from Hercules Offshore for an undisclosed amount, and has renamed the rig the Vantage 260. As part of the acquisition, Vantage…
Hercules Offshore has sold a jackup drilling unit in a US$3.16 million deal with an undisclosed buyer. The Hercules 267, image from Hercules Offshore. The deal, through the company’s subsidiary Hercules International Drilling…
Statoil made two oil discoveries in the Bay du Nord area during its 19-month exploration drilling program offshore Newfoundland, which the company is estimating the finds to possibly be in the lower end of the anticipated volume range. Map…
Maersk Drilling has agreed to acquire the newbuild harsh environment jackup rig Hercules Highlander from struggling US drilling contractor Hercules Offshore. Hercules was awarded a five-year contract by Maersk Oil for use of the rig on the Culzean high-pressure…
Statoil has decided to cancel the contract with Seadrill for the West Hercules semisubmersible drilling rig. The rig has been on contract with Statoil since 31 January 2013, performing an exploration campaign offshore Newfoundland in Canada for the past 18 months…
Saudi Aramco has extended a contract with Hercules Offshore for the Hercules 266 jackup, for work offshore Saudi Arabia. The contract extension will last until 30 June at a dayrate of US$63,650. The original contract was set to end this month…
Saudi Aramco is reducing dayrates by 5% with Hercules Offshore for three jackup rigs. On 9 March, Saudi Aramco sent Hercules a notice of the reductions for five-year contracts for the Hercules 261 and Hercules 262 from US$67,000 per day to $63…
Houston-based Hercules Offshore has filed for Chapter 11 bankruptcy protection with a pre-packaged deal that will send the company into a reorganization and financial restructuring. Image from Hercules…
A major cross-industry initiative led by Wärtsilä, MAN Diesel & Turbo and Winterthur Gas & Diesel to develop basic technologies for use in two-stroke and four-stroke marine engines has been officially launched. The Hercules-2 project is aimed…
As expected, Hercules Offshore Inc. plans to file for Chapter 11 bankruptcy protection next month as a final solution to its US$1.2 billion debt woes. The firm is one of the first to crash and burn as a result of insufficient cash flow due…
Houston-based Hercules Offshore entered into a restructuring support agreement with a group of its debt holders that will shakeup the company’s finances and position Hercules to benefit during the expected rebound in the offshore drilling industry…
Hercules Offshore received a welcome notice from Saudi Aramco—a withdrawal notice to rescind Aramco’s previously issued notice of termination of its contract for the Hercules 261. As a result, almost all terms and conditions of the contract…
Houston-headquartered drilling contractor Hercules Offshore sold four jackups that had been previously cold stacked since 2009. Despite the sale, 11 rigs in the company’s fleet remained cold stacked, five were added to that list this year alone…
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…
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