Admarine 260 (Advanced Energy Systems) (Jackup)

Hercules Offshore announces new contract for 'Hercules 260'

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02 April 2015

Hercules Offshore (“Hercules”) has announced that it has signed a five-year contract with a subsidiary of Eni S.p.A. (“Eni”) for use of the Hercules 260 in West Africa. The dayrate under the contract will range from a minimum of USD75,000 per day when the price of Brent crude oil is USD86 or less per barrel, to a maximum of USD125,000 per day when the price of Brent crude oil is USD125 or more per barrel. Contract commencement is expected in early April 2015. Costs for contract specific upgrades will be reimbursed by the operator. Hercules did not announce the country in which the unit will begin its contract. However, due its sudden start date, it is believed that the unit will begin operations in Gabon where the unit is currently located. Eni made a significant gas discovery in Gabon last year with the drilling of the Nyonie Deep well.

Source: http://ir.herculesoffshore.com/phoenix.zhtml?c=192573&p=irol-newsArticle&ID=2031840


More News for Operator: Advanced Energy Systems

22 Sep 2011

DRC 2011 offshore drilling campaign launched with Libwa 12

The shallow-draft Hercules H260 RIG arrived in DR Congo the 1st of September for a drilling campaign that is expected to last approximately six months. This is a major milestone for the DRC subsidiary, with the first offshore drilling operation since the Perenco takeover of the offshore operatorship in July 2004. The planned campaign will consist of three new wells, one re-entry and one heavy work-over. The first well, the challenging LIB-12 dual lateral well is being drilled to unlock the southern part of the Libwa field. The campaign will then continue with MIB-19, targeting attic oil in the mature Mibale field followed by an appraisal well in Misato (MIS-4), one re-entry (LUBI-1X) and a heavy workover in Libwa (LIB-11). It demonstrates Perenco's commitment to exploit offshore undeveloped oil reserves in difficult reservoirs. The wells' selection and the launch of this campaign are a direct consequence of the good teamwork between the subsidiary and the Headquarter support departments: Geosciences (London) and Drilling & Completion (Paris). The drilling campaign has been launched while the SW1 is still in work-over operation and with the addition of one onshore rig, three pulling units and a hydraulic frac set-up in simultaneous operation, resulting in the highest activity rate for the subsidiary since Perenco's arrival in DRC in 2001.

7 May 2009

Signal Delivers Two Rigs On Schedule for Diamond Offshore

Signal International, L.L.P. announced the recent completion and return to service of two Diamond Offshore rigs, the Ocean Titan and the Ocean America. The LeTourneau Class 64 jackup, Ocean Titan, entered Signal’s East Pascagoula, Mississippi yard for modifications and repairs on 06 March 2009 and departed on 14 April 2009. Meanwhile, another Diamond rig, the eight-column semisubmersible Ocean America, was delivered 07 May 2009, two days ahead of schedule from Signal’s Dry Dock at Port Arthur, Texas undergoing periodic inspection procedures and customer-planned modifications. “Simultaneous performance of these two projects, one at dockside in Mississippi and the other on dry dock in Texas, demonstrates the wide geographic span of Signal’s GoM service capability, said Dick Marler, President and CEO of Signal. In the past we have also served Diamond and other drilling contractors with on-location work, which enables the rig owner to accomplish significant rig servicing work while experiencing little or no operational downtime”. In addition to ensuring compliance with ABS Special survey requirements for both rigs, upgrades and modifications to the Ocean Titan included installation of an extension to the BOP control system house, fabrication of two new life boat platforms and replacement of 500 feet of leg jet piping and hangers. Repairs and modifications to the Ocean America included tank cleaning; contain, blast and paint columns, deck box, tubular supports and derrick; removal and reinstallation of anchor chain for inspection; sacrificial anode installation and replacement of the drilling mud treatment system.

26 Feb 2015

Saudi Aramco cancels contract for 'Hercules 261'

Hercules Offshore, Inc. (“Hercules”) announced today that it has received a notice from Saudi Aramco terminating its drilling contract for the Hercules 261 jackup, effective March 27th, 2015. Hercules is in the process of seeking a basis for continuing the Hercules 261 contract. As previously disclosed, Hercules has been in discussions with Saudi Aramco about a possible rate reduction on the Hercules 262 and Hercules 266. The Company has not received a notice of termination from Saudi Aramco with respect to these rigs.

1 May 2015

Hercules extends 'Hercules 261' contract for another month

Hercules Offshore, Inc. (“Hercules”) has announced that it has received a notice from Saudi Aramco extending the termination date of its drilling contract for the Hercules 261, to May 31st, 2015. This is the second termination date extension that Saudi Aramco has issued for the Hercules 261. Previously the contract was due to expire on the 27th March 2015 and then the 30th April 2015, following notice that Saudi Aramco gave Hercules in February 2015. As previously disclosed, we are in the process of seeking a basis for continuing the Hercules 261 contract.

1 Jun 2015

Hercules agrees to rate reductions and Saudi Aramco cancels termination notice for 'Hercules 261'

Hercules Offshore, Inc. (“Hercules”) announced today it had received a notice from Saudi Aramco withdrawing its previously issued termination notice for the Hercules 261 jackup. Following the withdrawal of this termination notice, the Hercules 261 is now fully contracted up until September 2019. Meanwhile Hercules also announced that it has agreed to rate reductions for its three jackups currently contracted to Saudi Aramco; Hercules 261, Hercules 262 and Hercules 266. The rates for all three units will be reduced to USD67,000 and apply from the 1st January 2015. The rate reductions for the Hercules 261 and 262 run until 31st December 2016, whilst the Hercules 266 reduction will be applied for the remainder of the units contract which completes in November 2015.

6 Apr 2016

Hercules Offshore, Inc. Announces Contract Extension for the Hercules 266

Hercules Offshore, Inc. (NASDAQ: HERO) announced today that it received a notice from Saudi Aramco extending the contract for the Hercules 266 to June 30, 2016. The dayrate for the Hercules 266 will remain at $63,650 per day through the term of the contract extension.

5 Apr 2017

Vantage Drilling International Announces Acquisition

Vantage Drilling International ("Vantage"), announced today that its subsidiary, Vantage Drilling Africa, has acquired the Hercules 260, a Marathon LeTourneau Class jack-up drilling unit, from Hercules International Drilling, Ltd., a subsidiary of Hercules Offshore, Inc., for an undisclosed amount and has renamed the rig the Vantage 260. As part of the acquisition, Vantage Drilling Africa acquired a multi-year drilling contract with ENI Congo. Vantage is reactivating the Sapphire Driller, a Baker Marine Pacific Class 375 jack-up rig currently warm-stacked offshore of the Republic of Congo, and later this year will substitute it for the Vantage 260. Ihab Toma, Vantage's Chief Executive Officer, commented, "We are delighted to have completed this transaction and are happy to welcome the 260 team to Vantage. We look forward to continuing the excellent operations for ENI Congo."

21 Dec 2015

KCA Deutag Disposal of Ben Loyal Jack-Up Drilling Unit

Leading global drilling and engineering contractor, KCA Deutag, today announces that it has sold its jack-up drilling unit, the Ben Loyal to Egyptian headquartered Advanced Energy Systems A.D.E.S. SAE for an undisclosed sum. Built in 1981 and acquired by KCA Deutag in 2005, the Ben Loyal's operational performance has been strong and until October of this year it had been continuously under contract in the Gulf of Mexico. The Friede & Goldman L-780 MOD II rig, which is due for a special periodic survey next year, is capable of drilling in water depths of 300ft. Norrie McKay, KCA Deutag CEO said: "The sale of the Ben Loyal is another important step for KCA Deutag as we continue to focus our growth strategy on our core businesses of premium rig services, specialist engineering and design, and land rig manufacturing."

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