Cairn India Signs Deal for Hercules Triumph to Work in Indian Ocean

Hercules Offshore announced Tuesday that it has signed a contract with Cairn India Limited for use of the Hercules Triumph (400' ILC), 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 in late October 2013.

John T. Rynd, CEO and President of Hercules Offshore, states, "Our initial contract for the Hercules Triumph demonstrates the strength of demand worldwide for this quality of rigs. We look forward to working with the operator on this opportunity, and are in discussions with several operators about follow on work for the Hercules Triumph as well as work for the Hercules Resilience (400' ILC), formerly Discovery Resilience. Construction of the Hercules Resilience remains on schedule, and we expect the rig will be delivered in October 2013."

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