Contract driller Hercules Offshore Inc. (HERO) said Thursday that it is being investigated by the Securities Exchange Commission and the Department of Justice for potential violations of the Foreign Corrupt Practices Act.

In a securities filing Hercules said the Securities Exchange Commission on Monday subpoenaed documents related to possible violations of the Foreign Corrupt Practices Act and that the Justice Department notified the company on Tuesday that it was also investigating the company's operations.

The U.S. government has markedly stepped up enforcement of the Foreign Corrupt Practices Act in recent years with criminal charges against executives as well as steep fines. The act bans companies that trade on U.S. exchanges from bribing foreign officials to gain a business advantage.

Houston-based Hercules, the largest shallow-water driller in the Gulf of Mexico, has international operations in Mexico, Nigeria, India, Malaysia and Saudi Arabia.

Company officials did not immediately respond to requests for comment. Melinda Brunger, a Houston lawyer who represents the company, declined to comment.

The oil and gas industry, which operates in nations that anti-bribery groups rank as among the most corrupt in the world, have been particularly vulnerable to FCPA violations. In November Oil giant Royal Dutch Shell PLC (RDSA, RDSA.LN) and six other companies, including offshore drillers Transocean Ltd. (RIG) and Noble Corp. (NE), agreed to pay a combined $236 million to settle allegations that they or their contractors bribed foreign officials to smooth the way for importing equipment and materials into several countries.

In the filing Hercules said that it intends to cooperate with investigators but that, "At this time, it is not possible to predict the outcome of the investigations, the expenses we will incur associated with these matters, or the impact on the price of our common stock or other securities if the SEC or (Department of Justice) takes any actions regarding these investigations."

-By Ryan Dezember, Dow Jones Newswires; 713-547-9208; ryan.dezember@dowjones.com