Hercules Offshore Company News

Recent Articles

Results 50 articles shown

C&J Energy Files for Bankruptcy to Cut $1.4B in Debt
C&J Energy Services files for US Chapter 11 bankruptcy protection with an agreement with its lenders to swap $1.4 billion in debt for ownership of the reorganized company.
8:00 PM EST | July 19, 2016
Hercules Offshore Sells Jackup at 94% Loss
Hercules sells jackup Hercules 267 as it continues to liquidate its assets after filing for bankruptcy a second time.
8:00 PM EST | July 11, 2016
Hercules Offshore Lays Off 60 at Houston Headquarters
Hercules has begun laying off employees in Houston and anticipates a complete shutdown of facilities after the company filed for bankruptcy June 6.
8:00 PM EST | June 12, 2016
Maersk Drilling Acquires Newbuild Jackup from Hercules Offshore for $190M
Maersk Drilling acquires a newbuild jackup from Hercules Offshore for $190 million, with the rig to head for the North Sea to commence work on the Culzean gas field.
8:00 PM EST | May 26, 2016
Hercules Offshore to File for Bankruptcy a Second Time
Hercules Offshore plans to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.
8:00 PM EST | May 26, 2016
Hercules Offshore Files Bankruptcy With Plan to Convert Debt
Hercules Offshore, owner of the largest fleet of shallow-water drilling rigs in the Gulf of Mexico, filed for bankruptcy with a plan to be taken over by senior creditors.
8:00 PM EST | August 12, 2015
Hercules Needs A Hero As Share Prices Sink
In a struggling time for many offshore companies, Hercules Offshore's plan for bankruptcy is sinking its shares prices in an especially tough trading environment.
8:00 PM EST | July 27, 2015
Offshore Driller Hercules Says Weeks From Bankruptcy
Hercules Offshore, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, says it plans to file for creditor protection in about three weeks.
8:00 PM EST | July 22, 2015
Hercules to Restructure as It Seeks to Weather Market Downcycle
Hercules Offshore wins support from majority of noteholders for its bankruptcy plan to reduce debt and boost liquidity.
8:00 PM EST | June 17, 2015
Hercules Sells Jackups Coldstacked Since 2009
A weak global jackup market prompts Hercules Offshore to sell four jackups coldstacked since 2009.
8:00 PM EST | May 19, 2015
Hercules Inks 5-Year Contract with Eni in W. Africa
Hercules Offshore signs a 5-year contract with a subsidiary of Eni for use of the Hercules 260 in West Africa.
8:00 PM EST | April 02, 2015
Hercules Offshore Cuts Jobs, Salaries To Rein In Costs
Hercules Offshore reports a much smaller-than-expected quarterly loss as the company reins in costs to cope with falling demand due to a slump in crude oil prices.
7:00 PM EST | February 11, 2015
Precision Drilling Expects Lower Capital Spending in 2015
Canada's Precision Drilling Corporation expects 2015 capital spending to be 44-percent lower than this year's budget.
7:00 PM EST | December 07, 2014
Jurong Shipyard Bags $236M Jackup Contract from Hercules Offshore
Jurong Shipyard bags a $236 million contract from Hercules Offshore to build a jackup to work in the North Sea for Maersk Oil and Gas upon delivery.
8:00 PM EST | May 20, 2014
Hercules Offshore Inks North Sea Drilling Gig with Maersk Oil
Hercules Offshore signs a 5-year drilling contract with Maersk Oil North Sea UK Limited for a newbuild.
8:00 PM EST | May 19, 2014
Randy Stilley Comes on Board of Paragon Offshore
With more than 38 years of experience, Stilley will head Noble Corporation’s new spin-off, Paragon Offshore.
7:00 PM EST | February 03, 2014
Hercules Settles Jackup 265 Property Damage Claim
Hercules Offshore receives payment from its insurance underwriters for the previously-disclosed damage to its Hercules 265 jackup drilling rig.
7:00 PM EST | December 22, 2013
Perisai Appoints Hercules to Operate, Manage 2 Jackups Now Being Built
Perisai Petroleum Teknologi appoints Hercules Offshore as drilling operations and maintenance manager for two jackups that are now under construction at PPL Shipyard in Singapore.
7:00 PM EST | November 06, 2013
Cairn India Signs Deal for Hercules Triumph to Work in Indian Ocean
Cairn India signs deal with Hercules Offshore to use Hercules Triumph for work in the Indian Ocean.
8:00 PM EST | September 03, 2013
Hercules Records 2Q YOY Revenue Gains
Offshore drilling provider Hercules Offshore reports second-quarter gain in revenue.
8:00 PM EST | July 30, 2013
Focus On Safety In Aftermath of Gas Well Blowout
BSEE announces it will focus on safety precautions for shallow-water drilling following the Walter A-3 blowout.
8:00 PM EST | July 30, 2013
Relief Well Planned to Help Plug Ruptured Gas Well in US Gulf
Crews expect to start drilling a relief well to help permanently plug a ruptured shallow-water natural gas well off the coast of Louisiana in the Gulf of Mexico, a US regulator says.
8:00 PM EST | July 29, 2013
Hercules 265 Rig Personnel Return To Rig To Assess Damage
Rig personnel have returned to the Hercules rig to determine the cause of last week’s natural gas well blowout and fire.
8:00 PM EST | July 28, 2013
Fire Out on Hercules Rig and Natural Gas Well, Gas Flow Halted
The Walter Oil & Gas and Hercules rig fires are out, and government officials are working with all relevant people to secure the well.
8:00 PM EST | July 25, 2013
Natural Gas Well Bridged; Hercules Rig Fire Continues
The Walter Oil & Gas well has bridged over and the Hercules rig fire has been isolated.
8:00 PM EST | July 24, 2013
Hercules 265 Jackup Beams Collapse Over Rig Structure
The Hercules 265 jackup suffers a collapse of support beams during a fire on the rig.
8:00 PM EST | July 23, 2013
Workers Evacuated Following Blowout on Rig
Workers are evacuated from a jackup offshore Grand Isle, Louisiana following a blowout.
8:00 PM EST | July 22, 2013
All Coast to Acquire Hercules Offshore Domestic Liftboats
All Coast has entered into an agreement with Hercules Offshore to acquire substantially all of HERO’s Domestic Liftboat assets.
8:00 PM EST | June 23, 2013
Hercules Offshore to Acquire Jackup Ben Avon
Hercules Offshore announces the execution of an agreement to acquire the offshore drilling rig Ben Avon from a subsidiary of KCA Deutag.
7:00 PM EST | February 21, 2013
Hercules Offshore Swings to Surprise 4Q Profit
Hercules Offshore posts its first profit in five years as energy production in the US Gulf of Mexico roared back to life in 2012, prompting strong demand for shallow-water drilling rigs.
7:00 PM EST | February 11, 2013
Hercules Offshore Finalizes Rig Sale
Hercules Offshore, Inc. has closed the previously announced acquisition of the offshore drilling rig Ocean Columbia.
8:00 PM EST | March 27, 2012
Hercules Offshore Buys Jackup from Diamond Offshore, Books Gig
Hercules Offshore announced the execution of a definitive agreement to acquire the offshore drilling rig Ocean Columbia from a subsidiary of Diamond Offshore Drilling.
8:00 PM EST | March 19, 2012
Hercules Offshore Welcomes New VPs
Hercules Offshore, Inc. announced the appointment of Son P. Vann to Vice President Investor Relations and Planning and John F. Wasmuth to Vice President Tax.
7:00 PM EST | March 01, 2012
Hercules Offshore Reports Loss in 4Q 2011
"Our fourth quarter results were impacted by downtime on several of our international rigs as they completed projects and prepare for their new contract work," said John T. Rynd.
7:00 PM EST | February 08, 2012
UPDATE: Surface Equipment Failure May Have Sparked Jackup Fire
Hercules Offshore reported that its Mako liftboat has likely been lost in the fire that erupted on board the jackup KS Endeavour offshore Nigeria.
7:00 PM EST | January 16, 2012
Salvage Efforts Commence on Hercules' Capsized Liftboat
Hercules Offshore announced that the Starfish, a 140 class liftboat, capsized after being struck by multiple waterspouts late in the evening on September 30, 2011.
8:00 PM EST | October 02, 2011
Fairstar Wins Transportation Contract for Hercules Jackup
Fairstar has been awarded a new transportation contract to transport the Hercules 185 jackup rig from Port Gentil to either Mississippi or Bahrain using the Fairstar semisubmersible vessel FJELL.
8:00 PM EST | September 26, 2011
Hercules Offshore Ups Stake in Discovery Offshore
Hercules Offshore has acquired an additional 6.1 million shares of Discovery Offshore S.A. at an average price of NOK9.02 per share.
8:00 PM EST | September 12, 2011
Hercules Offshore Names New VP, Updates 2Q Activities
Hercules Offshore announced officer appointments and provides update on second quarter 2011 activities.
8:00 PM EST | May 16, 2011
Hercules Offshore, Seahawk Drilling Finalize Asset Sale
Hercules Offshore and Seahawk Drilling announced the completion of the asset purchase and sale previously disclosed on February 11, 2011.
8:00 PM EST | April 26, 2011
Analysis: Hercules Flexes Its Muscles
A closer look at Hercules Offshore's strategic buyout of Seahawk Drilling.
8:00 PM EST | April 14, 2011
Judge Approves Sale of Seahawk Drilling to Rival Hercules
Hercules Offshore won bankruptcy court approval to buy Seahawk Drilling and its fleet of shallow-water drilling rigs.
8:00 PM EST | April 04, 2011
Hercules Reports Loss in 4Q10
Hercules Offshore reported a loss from continuing operations of $84.6 million, or $0.74 per diluted share, on revenue of $172.3 million.
7:00 PM EST | March 08, 2011
Hercules to Purchase 20 Seahawk Rigs, Assets
Hercules has entered into an Asset Purchase Agreement with Seahawk to purchase 20 jackups and related assets from Seahawk for $100MM in cash and stock.
7:00 PM EST | February 13, 2011
Hercules Invests in Discovery Offshore; to Construct 2 Jackups
Hercules Offshore announced an investment in Discovery Offshore, which will construct two ultra high-specification jackup rigs.
7:00 PM EST | January 24, 2011
Hercules Offshore Swings to Loss in 2Q10
Hercules Offshore reported a loss from continuing operations of $19.0 million, or $0.17 per diluted share, on revenues of $165.9 million for the second quarter 2010.
8:00 PM EST | August 02, 2010
Hercules Offshore Appoints New CFO
Hercules Offshore has appointed Stephen M. Butz, currently serving as Vice President, Finance and Treasurer, as Senior Vice President, Chief Financial Officer and Treasurer.
8:00 PM EST | May 09, 2010
Hercules Offshore Briefs 1Q10 Financial Results
Hercules Offshore reported a loss from continuing operations of $16.0 million, or $0.14 per diluted share, on revenues of $150.8 million for the first quarter 2010.
8:00 PM EST | April 28, 2010
Hercules 204 Ready to Spin Bit at Main Pass
The Hercules 204 drilling rig has arrived on location to drill the Main Pass Block 20 #4 exploration well in the U.S. Gulf of Mexico.
8:00 PM EST | April 13, 2010
Petsec Gears Up for GOM Drilling Program
The Hercules 204 drilling rig is expected to move onto location within the next three weeks to drill the Main Pass Block 20 #4 well in the U.S. Gulf of Mexico.
8:00 PM EST | April 05, 2010