Hercules received approximately $54.3 million of proceeds from the offering of the 1,600,000 shares sold by the company, net of underwriting fees and estimated expenses. Hercules intends to use the proceeds for general corporate purposes, which may include rig and liftboat refurbishments and acquisitions. Hercules did not receive any proceeds from the shares sold by the selling stockholders.
Headquartered in Houston, Hercules Offshore owns a fleet of nine jackup drilling rigs and 46 liftboats. Hercules Offshore offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in shallow waters.
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