On March 22, 2007, Hercules announced that it had entered into an Agreement and Plan of Merger with TODCO and The Hercules Offshore Drilling Company LLC, a wholly owned subsidiary of Hercules Offshore. The merger remains subject to certain stockholder approvals, as well as the satisfaction of other customary closing conditions. Hercules Offshore and TODCO previously announced the meeting date for the stockholders of the companies. Hercules Offshore expects that the merger will close immediately after the stockholders meetings, which are scheduled to be held on July 11, 2007.
Headquartered in Houston, Hercules Offshore operates a fleet of nine jackup drilling rigs and 64 liftboats. The company 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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