Last $4.04 USD
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As of 8:10 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

hercules offshore inc (HERO) Snapshot

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hercules offshore inc (HERO) Details

Hercules Offshore, Inc., together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through Domestic Offshore, International Offshore, and International Liftboats segments. Its services comprise oil and gas exploration and development drilling, well services, platform inspection, maintenance, and decommissioning services in various shallow-water provinces. As of February 19, 2014, the company owned a fleet of 38 jackup rigs; and 19 liftboat vessels, as well as operated 5 liftboat vessels owned by third party. It serves national oil and gas companies, integrated energy companies, and independent oil and natural gas operators. The company was formerly known as Hercules Offshore, LLC and changed its name to Hercules Offshore, Inc. in 2005. Hercules Offshore, Inc. was founded in 2004 and is headquartered in Houston, Texas.

2,200 Employees
Last Reported Date: 02/27/14
Founded in 2004

hercules offshore inc (HERO) Top Compensated Officers

Chief Executive Officer, President and Execut...
Total Annual Compensation: $630.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $375.0K
Senior Vice President of Worldwide Drilling O...
Total Annual Compensation: $325.0K
Executive Vice President
Total Annual Compensation: $375.0K
Chief Accounting Officer and Senior Vice Pres...
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2013.

hercules offshore inc (HERO) Key Developments

Hercules Offshore, Inc. Announces Five Year Drilling Contract for Newbuild Jackup Rig with Maersk Oil

Hercules Offshore, Inc. announced that it has signed a five year drilling contract with Maersk Oil North Sea UK Limited for a newbuild jackup rig to be owned and operated by Hercules Offshore. Total contract value is approximately $420 million, which includes approximately $9 million of mobilization fees. Contract commencement is expected in mid-2016. The company has also signed a rig construction contract with Jurong Shipyard Pte Ltd. in Singapore. The rig is based on the Friede & Goldman JU-2000E design, with enhancements that will provide for greater load-bearing capabilities and operational flexibility. These enhancements are based on collaborative efforts between Maersk Oil, JSL and Hercules Offshore. In addition, this High Specification, Harsh Environment rig will feature a 400 foot water depth rating, 30,000 foot drilling capacity, two million pounds of static hook load, 75 foot cantilever reach, off-line pipe handling capability, 15,000 psi blowout preventer systems, high pressure/high temperature rating and accommodations capacity for up to 150 personnel. The shipyard cost of the rig is estimated at approximately $236 million. Including project management, spares, commissioning and other costs, total delivery cost is estimated at approximately $270 million. The company initially pays 10% of the shipyard cost, or approximately $24 million to JSL, followed by a second 10% payment one year after the initial payment. The final 80% of the shipyard payment is due upon delivery of the rig, estimated in April 2016.

Hercules Offshore, Inc. Approves Amendment to its Amended and Restated Certificate of Incorporation

Hercules Offshore, Inc. approved the amendment to the company's Amended and Restated Certificate of Incorporation to remove Article Fourth, Division B, Section 4 thereof containing limitations on foreign ownership of its capital stock in its annual meeting of the stockholders held on May 14, 2014.

Hercules Offshore, Inc. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-24-2014 04:00 PM

Hercules Offshore, Inc. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-24-2014 04:00 PM. Venue: JW Marriott Hotel, 151 W. Adams St, Chicago, Illinois, United States. Speakers: John T. Rynd, Chief Executive Officer, President and Executive Director.


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