Hercules Offshore Intends to Make Public Offering of Common Stock

Hercules Offshore has announced its intention, subject to market conditions, to publicly offer up to 17.5 million shares of common stock in an underwritten public offering. The underwriters for the offering will also have the option to purchase up to 2,625,000 additional shares of common stock on the same terms and conditions to cover over-allotments, if any. The Company intends to use the net proceeds from the offering, including any net proceeds from the underwriters' exercise of their over-allotment option, to repay a portion of the indebtedness outstanding under the Company's term loan facility and for general corporate purposes, which may in the future include repaying indebtedness, among other things.