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 Economy in October 2014
United States >>  10/20/2014 - Momentum in the US is ongoing. After strong 2Q growth, output numbers and labour market improvements point to a continued solid recovery. This is also...
Thomas P. Chambers Joins Kosmos as Chief Financial Officer
  United States >>  10/16/2014 - Kosmos Energy Ltd. (Kosmos) announced that Thomas P. Chambers will join the company as senior vice president and chief financial officer effective Nov...

Apache Appoints Interim CFO after Resignation of Alfonso Leon
  United States >>  10/14/2014 - Apache Corporation announced that Alfonso Leon, executive vice president and chief financial officer, has resigned to pursue other opportunities. Leon...
US Stock Movements in September 2014
United States >>  10/1/2014 - Preliminary data for August shows that total commercial oil stocks rose by 3.7 mb, reversing the drop of last month, to stand at 1,124.4 mb, the highe...

Schlumberger Releases 2014 Software Platforms for Oil & Gas Operations
United States >>  9/29/2014 - Schlumberger has released the 2014 versions of its industry leading software platforms. The Petrel E&P software platform, Techlog wellbore software pl...
Emerson Introduces Rosemount 5708 Series 3D Solids Scanners
United States >>  9/25/2014 - Emerson Process Management has introduced the Rosemount 5708 Series of 3D Solids Scanners for the continuous measurement of level, volume and mass of ...



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 |

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