Hercules Offshore, Inc. News
Hercules Offshore Announces Early Termination of Hart-Scott-Rodino Waiting Period and Partial Closing of Jackup Drilling Rig Acquisition
HOUSTON, March 14 PRNewswire-FirstCall — Hercules Offshore, Inc. (Nasdaq: HERO) today announced that the U.S. Department of Justice and the Federal Trade Commission have granted early termination of the government's pre-merger antitrust review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the previously announced agreement to acquire three jackup drilling rigs from Transocean Inc.
The acquisition of the Adriatic III and the High Island I and related equipment has closed for an approximate cost of $220 million. The acquisition of the High Island VIII and related equipment is expected to close upon completion of its current contract in May 2008 for approximately $100 million.
Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 35 jackup rigs, 27 barge rigs, 65 liftboats, three submersible rigs, one platform rig and a fleet of marine support vessels, and has operations in nine different countries on four continents. 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 shallow waters.
SOURCE Hercules Offshore, Inc.
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