Hercules Offshore sells rig for $3.16m

Hercules Offshore sells rig for $3.16m

Financially strapped American drilling contractor Hercules Offshore announced on Monday that one of its subsidiaries is selling a jack-up rig for $3.16m.

Hercules International Drilling Ltd is making the sale of rig Hercules 267 to an unnamed buyer as the parent company is going through bankruptcy proceedings for the second time in a year. The price indicates it has likely been sold for scrap.

In the company’s most recent rig fleet status report, in March, Hercules 267 is described as being warm stacked – idle but ready to be deployed quickly – in the African nation of Gabon.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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