HOUSTON, June 1, 2015 /PRNewswire/ -- Hercules
Offshore, Inc. (NASDAQ: HERO) announced that it received a notice
from Saudi Aramco withdrawing the previously issued notice of
termination with respect to the contract for the Hercules
261 and declaring that all terms and conditions of the contract
remain in full force and effect for the remainder of the five-year
term of the contract. Notwithstanding the receipt of the withdrawal
of the termination notice for the Hercules 261, the dayrates
on this rig, the Hercules 262 and the Hercules 266,
which are also under contract with Saudi Aramco, are expected to be
significantly reduced to bring such dayrates in line with current
market rates for similarly-classed rigs in the region. We disclaim
any obligation to update this information except as required by
applicable rules and regulations.
About Hercules Offshore
Headquartered in Houston,
Hercules Offshore, Inc. operates a fleet of 29 jackup rigs,
including one rig under construction, and 24 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 several key shallow
water provinces around the world. For more information, please
visit our website at http://www.herculesoffshore.com.
Statements above that are not historical fact are
forward-looking statements, including the status of contract
discussions, day rates and potential contract terminations.
Forward-looking statements by their nature involve substantial
risks, uncertainties and assumptions, including without limitation,
contract renegotiations with customers, early termination by the
customer pursuant to the contract or otherwise, government and
regulatory actions and other factors described in the risks and
uncertainties described in our periodic reports filed with the
Securities and Exchange Commission. Many of these factors are
beyond our ability to control or predict.
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SOURCE Hercules Offshore, Inc.