Hercules Seals Deal on Jackup for $100M

Hercules Offshore, Inc. announced that the acquisition of the High Island VIII jackup drilling rig and related equipment has closed at a cost of approximately $100 million. The rig, which will be renamed the Hercules 261, will mobilize from the U.S. Gulf of Mexico to Saudi Arabia to begin operations on a previously announced three-year contract expected to commence on approximately September 30, 2008.

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