Chevron Rescinds Force Majeure of Hercules Jackup

Chevron has revoked its force majeure for the jackup Hercules 120, Hercules Offshore reported in a filing with the Securities and Exchange Commission.

Chevron rescinded the force majeure after the Bureau of Ocean Energy Management issued a permit for a well in Chevron's drilling program involving Hercules 120, which began on July 2. Chevron will need to obtain permits for additional wells in the drilling program.

Hercules 120 is on location in the U.S. Gulf at South Timbalier Block 37, and is under contract at a day rate in the low-$30,000s, according to RigLogix.
 

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