Rig Equipment: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

Hercules to Acquire Ocean Columbia from Diamond

Source: www.gulfoilandgas.com 3/20/2012, Location: North America

Share |

Hercules Offshore, Inc. announced the execution of a definitive agreement to acquire the offshore drilling rig Ocean Columbia from a subsidiary of Diamond Offshore Drilling, Inc. The purchase price is $40 million in cash. Ocean Columbia is a LeTourneau Class 82 SD-C self-elevating drilling rig registered and flagged in the Marshall Islands. Subject to customary closing conditions, the Company expects the acquisition to close in May 2012.

Hercules Offshore also announced that it has entered into a three-year drilling contract with Saudi Aramco for the use of the Ocean Columbia. Over this three-year period, the Company expects to generate total revenues of $160.0 million, including a lump-sum mobilization fee, assuming a utilization rate of 98% for the rig. Under the drilling contract, Saudi Aramco has the option to extend the term for an additional one-year period. Prior to commencing work under the contract, the Company expects to spend approximately $45.0 million for repairs, upgrades and other contract specific refurbishments to the rig and to mobilize the rig from the Gulf of Mexico to the Middle East. The Company expects the rig to commence work under the contract in November 2012.

Rig Equipment >>

Rig Equipment News in United States >>

US Stock Movements - July 2015
United States >>  7/26/2015 - Preliminary data for June shows that total commercial oil stocks rose for the eighth consecutive month by 5.7 mb to stand at 1257.7 mb. At this level,...
CB&I Awarded EPC Contract for Louisiana Refinery
United States >>  7/23/2015 - CB&I has been awarded a contract valued in excess of $100 million by a major energy company for a Tier 3 clean fuels project. The scope of work at the...

SNC-Lavalin Awarded Keys Energy Project in Maryland
United States >>  7/22/2015 - SNC-Lavalin has been awarded an engineering, procurement and construction contract for the Keys Energy Center project, a 755-megawatt combined-cycle n...
OneSubsea Establishes Global Alliance with Subsea 7
United States >>  7/13/2015 - OneSubsea®, a Cameron and Schlumberger company, has signed an agreement establishing a worldwide non-incorporated alliance with Subsea 7 to jointly de...

US Forecast for 2015 Oil Supply – June 2015
United States >>  7/8/2015 - US total oil supply is anticipated to grow by 0.70 mb/d to average 13.56 mb/d in 2015, unchanged from the previous MOMR. US crude oil production reach...
Hess Completes Sale, Establishes Midstream JV Valued at $5.35b
United States >>  7/1/2015 - Hess Corporation completed the previously sale of a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners for cash cons...



Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 |

More News

Oil & Gas Companies in United States >>

Related Links

Countries Quick Links

CA US
Gulf Oil and Gas B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed