Houston-based offshore drilling company Hercules Offshore is in danger of falling into bankruptcy for the second time in less than a year, according to Bloomberg.
The NASDAQ-listed shallow-water driller has defaulted on a $450m loan as stated in a Securities Exchange filing made last week.
Hercules acknowledged in the filing that its creditors could force it into bankruptcy by Thursday this week. The creditors claim that the terms of the loan have been violated, entitling them to demand immediate repayment of the whole balance.
The company had only emerged in February from Chapter 11 bankruptcy protection it had entered into in August last year.
