Hercules offshore announces closing of the Ocean Columbia acquisition
Thursday, Mar 29, 2012
Hercules Offshore, Inc. (Nasdaq: HERO) announced today that it has closed the previously announced acquisition of the offshore drilling rig Ocean Columbia from a subsidiary of
The Company also announced the execution of a contract for the dry tow transportation of the Hercules 266 from the U.S. Gulf of
John Rynd, Chief Executive Officer and President stated, "By closing early on the rig acquisition and quickly securing access to a dry tow vessel, we gain greater operational flexibility to perform the required upgrade work and deliver the rig on a timely basis. Our current operations for Saudi Aramco with the Hercules 261 and Hercules 262 provide us with significant experience at the shipyard in dealing with Saudi Aramco's high standards. Based on this experience, we are confident in contract commencement by late 2012. "
Source: Hercules Offshore