Hercules Offshore Prices Public Offering

Hercules Offshore

Hercules Offshore, Inc. (Nasdaq: HERO) announced the pricing of a public offering of 7,500,000 shares of its common stock at $33.00 per share, all of which were offered by selling stockholders. Hercules will not receive any proceeds from the sale of the shares by the selling stockholders.

The offering is expected to close on November 17, 2006, subject to customary closing conditions. Shares of Hercules common stock are listed on the NASDAQ Global Select Market under the symbol "HERO".

In addition, the selling stockholders have granted the underwriters an option to purchase up to an additional 1,125,000 shares of Hercules common stock currently held by the selling stockholders to cover over-allotments, if any.

Credit Suisse Securities (USA) LLC is serving as sole bookrunning manager of the offering. Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Simmons & Company International, UBS Securities LLC, Morgan Keegan & Company, Inc. and Pickering Energy Partners Inc. are acting as co-managers for the offering.

Copies of the final prospectus related to this offering may be obtained from the Prospectus Department of Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, NY 10010-3629.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Hercules, nor shall there be any sales of any such securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Headquartered in Houston, Texas, Hercules Offshore operates a fleet of nine jackup 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.