Hercules Offshore Announces Closing of Domestic Liftboat Fleet Sale
HOUSTON, July 1, 2013 /PRNewswire/ — Hercules Offshore, Inc. (Nasdaq: HERO) today announced that it has closed the previously announced sale of its fleet of Domestic Liftboats, including 29 marketed liftboats, 10 cold-stacked liftboats and related assets to All Coast LLC for approximately $54.5 million. The Company will retain existing working capital within the Domestic Liftboat segment, which totals approximately $7.3 million as of May 31, 2013.
Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 40 jackup rigs, including two Keppel FELS Super A high specification harsh environment jackup rigs (through Discovery Offshore S.A), as well as 24 liftboats and 13 barge rigs. 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. Information contained on, or accessible through, our website is not part of this news release.
SOURCE Hercules Offshore, Inc.