New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 21, 2013
17:18 EDTHEROHercules Offshore acquires rig for $55M, signs agreement with Cabinda Gulf Oil
Hercules Offshore announced the execution of an agreement to acquire the offshore drilling rig Ben Avon from a subsidiary of KCA Deutag. The purchase price is $55M in cash. The company expects the acquisition to close by late-March. Hercules Offshore also announced that it has signed a letter of agreement for a three-year rig commitment with Cabinda Gulf Oil Company for use of the Ben Avon. The company expects to generate total revenue of approximately $119M over this three-year period under the contract. Subject to the execution of a mutually agreed drilling contract, the company expects the rig to commence work as early as May.
News For HERO From The Last 14 Days
Check below for free stories on HERO the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for HERO

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use