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Hercules Offshore offloads jackup pair

Hercules Offshore subsidiary Hercules British Offshore has reached an agreement with Magni Drilling Limited to sell jackup drilling rigs Hercules Triumph and Hercules Resilience.

The two rigs are currently cold stacked, Triumph in Europe and Resilience in Africa, and have fetched $130m. The sale includes the rigs together with everything onboard, including all provisions, spare parts and equipment, and rig site inventory.

Hercules Offshore is currently under Chapter 11, having filed in June with plans to operate normally while it sells off its fleet. The company emerged from a previous Chapter 11 in November 2015.

The sale is expected to be closed by January 10, 2017.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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