Hercules Offshore, Inc. Announces Rate Reductions for Hercules 261, Hercules 262 and Hercules 266 Contracts

Mar 10, 2016, 17:20 ET from Hercules Offshore, Inc.

HOUSTON, March 10, 2016 /PRNewswire/ -- Hercules Offshore, Inc. (NASDAQ: HERO) announced that it received from Saudi Aramco on March 9, 2016, a notice reducing the dayrates under its five year contracts for the Hercules 261 and Hercules 262 from $67,000 per day to $63,650 per day. The reduced dayrates will apply from January 1, 2016, through December 31, 2016. Saudi Aramco also advised the Company that the dayrate for the Hercules 266 has been reduced from $67,000 per day to $63,650 per day effective January 1, 2016, through the remaining term of its contract.

About Hercules Offshore, Inc.

Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 27 jackup rigs, including one rig under construction, and 19 liftboats. 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.


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