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 Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

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 in August 2014
United States >>  8/19/2014 - Preliminary data for July shows that total commercial oil stocks rose by 2.1 mb for the sixth consecutive month to stand at 1,118.5 mb, the highest le...
Emerson Releases New CSI 9360 Vibration Transmitter
United States >>  8/19/2014 - Emerson Process Management’s new CSI 9360 vibration/position transmitter offers users and manufacturers an economical solution for extending basic pro...

Emerson Introduces Rotary Actuators for in LP-Gas Services
United States >>  8/14/2014 - Emerson Process Management has released the Fisher P700 rotary style actuator for use with Fisher C series internal valves in LP-Gas services. These a...
US Oil Trade in August 2014
United States >>  8/14/2014 - In July preliminary data shows that US crude oil imports increased to average 7.48mb/d, up by 241 tb/d from last month while showing a drop from last ...

Emerson Enhances SCADA System to Streamline Oil & Gas Operations
United States >>  8/13/2014 - Emerson Process Management has released the OpenEnterprise v3 SCADA platform for the upstream production and distribution market. The new OpenEnterpri...
Jacobs Awarded EPC Contract from ExxonMobil
United States >>  8/12/2014 - Jacobs Engineering Group Inc was awarded a contract from ExxonMobil Chemical Company to provide engineering, procurement and construction services as ...



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 |

More News

Oil & Gas Companies in United States >>

Related Links

Countries Quick Links

CA US
Gulf Oil and Gas E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us