Rig provider Hercules Offshore Inc said on Thursday that it expects to file for Chapter 11 protection next month and emerge with a restructured balance sheet in the fourth quarter. The company said last month that it had entered into a restructuring agreement with a majority of its debtors and would file for Chapter 11 protection by July 8. Hercules shares were down 5.8 percent at 15.35 cents on Thursday afternoon. (Reporting by Sneha Banerjee and Narottam Medhora; Editing by Savio D'Souza)
Keppel FELS delivers the harsh environment rig to Discovery Offshore, which is managed by Hercules Offshore. Named Discovery Triumph at the delivery ceremony, the first KFELS Super A Class jackup has been delivered 46 days ahead of schedule and with a perfect safety record. The ultra high-specification jackup rig has been designed for the harsh environmental conditions of the North Sea (UK Sector). Its enhanced leg design incorporates Keppel's proven and reliable high capacity rack and
All Coast, LLC, a newly formed company for the marine services industry founded by John Powers and John Nesser III, has completed the acquisition of Hercules Offshore’s domestic liftboat assets. This $57.5 million acquisition includes 29 actively marketed liftboats ranging from class 105 to class 229, 10 inactive liftboats and additional related assets. Powers and Nesser, All Coast managers and co-chief executive officers, each have more than 40 years of experience in the oil and gas
The National Ocean Industries Association (NOIA) Board of Directors has elected Cindy B. Taylor as Chair and Kevin McEvoy as Vice Chairman for the upcoming 2015-2016 term. Taylor and McEvoy assumed their positions at the NOIA Annual Meeting today in Washington, DC. Since 2007, Cindy has served as President and Chief Executive Officer of Oil States International, Inc., a publicly traded diversified oilfield services company headquartered in Houston
Asian Lift, a joint venture between Keppel Offshore & Marine (Keppel O&M) and Smit Singapore, a member of the Boskalis group of companies, celebrates the naming of Asian Hercules III, which is the largest and most versatile heavy-lift sheerlegs of its kind in the world. The self-propelled floating sheerlegs can perform single lifts of up to 5,000 tonnes and carry out tandem lifts exceeding 5,000 tonnes with multiple cranes.
The Houston-based NASDAQ-listed drilling contractor Hercules Offshore Inc. (HERO) has entered a restructuring agreement with a noteholder group, and expects a prepackaged reorganization plan. HERO says the agreement will convert $1.2B of debt to new common equity, and noteholders will backstop $450M of new debt financing to fully fund the remaining construction cost of the Hercules Highlander and provide additional liquidity to fund the company's operations.
Global Industries, Ltd. said that subsidiary Global Offshore Mexico S. de R.L. de C.V. received a letter of intent from PEMEX Exploration & Production to install three 20-inch diameter pipelines and nine 12-inch diameter pipelines as part of the EPC-77 Project in the Cantarell Field. The field is located in Mexico's Bay of Campeche. The Project is valued at approximately $100 million and scheduled to be completed by the end of the first quarter 2005.
The crew onboard a Royal Australian Air Force (RAAF) C-130J Hercules transport aircraft helped rescue a lone sailor during a maritime emergency off Lord Howe Island. The C-130J Hercules from Number 37 Squadron at RAAF Richmond responded to a call for help from the Australian Maritime Safety Authority (AMSA). The C-130J was one of four aircraft AMSA called to assist, including AMSA’s Essendon based dedicated search and rescue Dornier aircraft
A man is safe after being rescued from a disabled boat approximately 46 miles southwest of Kahoolawe, Maui, Saturday. At 10:15 a.m., watchstanders at the Coast Guard Sector Honolulu command center received notification from a friend of the vessel’s operator reporting that the 19-foot boat was disabled. The mariner contacted his friend using a cell phone. An approximate position was determined using information form the cell phone call.
Rolls-Royce waterjets and MTU diesels to power 17 new patrol boats for the Qatar Coastguard Rolls-Royce has secured a £15.8 million contract to supply Rolls-Royce MTU high-speed engines and a suite of waterjet propulsion systems for the the Qatar Coastguard’s 17 fast patrol vessels under construction at Turkey’s ARES Shipyard. The scope of supply for Rolls-Royce Includes a total of 46 engines and waterjets, across three different sizes of craft
The Coast Guard is searching for an overdue boater near Main Pass in the Gulf of Mexico, Monday. Missing is Keith Carver, 61, of Tucson, Az. Carver's girlfriend notified watchstanders at Coast Guard Sector Corpus Christi that his 38-foot sailboat, the Carpe Noctem, was overdue on Nov
DOF and DOF Subsea have been awarded several IMR and subsea installation contracts in the Asia Pacific and Atlantic regions, with a total contract value of approximately NOK 270 million (about $23.8 million USD). The contracts will secure utilization of the subsea project fleet in the regions.
The Coast Guard rescued three missing divers near Penguin Bank, Molokai, Monday. "The Coast Guard advises all divers to have a dive buoy, signaling device, and reflective equipment,” said Lt. Kevin Edes, command center chief at Sector Honolulu
The Coast Guard medevaced a fisherman 75 miles southeast of Cape May, New Jersey, Thursday. The 43-year-old man was fishing with three other people aboard the 80-foot fishing boat Starbrite when he started experiencing difficulty breathing and numbness of his extremities.
Drilling contractor Hercules Offshore Inc forecast a challenging year ahead as demand for its rigs remains weak with producers scaling backing drilling due to a slump in global oil prices. Shares of the company, which reported a smaller-than-expected loss
The U.S. Coast Guard medevaced an ailing man from a cruise ship Monday approximately 140 miles east of Cape Charles. Watchstanders at the Coast Guard 5th District Command Center in Portsmouth received a call from the 951-foot cruise ship Carnival Splendor at approximately 5 p.m
An injured mariner was medevaced by U.S. Coast Guard (USCG) personnel near Sand Point, Wednesday, the USCG reported. Watchstanders at USCG District 17 command center received a report that a mariner aboard 48-foot fishing vessel Capt-Jay was suffering from a head injury
MAN Diesel & Turbo, Wärtsilä and Winterthur Gas & Diesel to collaborate on major, EU-funded project. A major cross-industry initiative led by MAN Diesel & Turbo, Wärtsilä, and Winterthur Gas & Diesel
A cruise ship passenger suffering stroke symptoms was medevaced by U.S. Coast Guard personnel approximately 200 miles east of Wilmington, North Carolina. The Coast Guard received a call late Monday afternoon from the 959-foot, Panama-flagged cruise ship Carnival Pride
Five men are safe, Saturday, after being after being stranded at sea in a 14-foot skiff since Wednesday. The men were rescued by the crew of the motor vessel, Shourong Harmony after an HC-130 Hercules air crew from Coast Guard Air Station Barbers Point spotted the 14-foot aluminum skiff
The search for a crew member missing from a containership between Bayonne, N.J. and Ocean City, Md. was suspended, the U.S. Coast Guard reported. The crew member was last reported aboard the 600-foot, Marshall Islands flagged freight ship Ibrahim Dede after departing Bayonne
A 46-year-old man is receiving treatment in Oahu after being medevaced from Midway Atoll, Saturday. The Hercules crew flew more than 1,300 miles from Oahu to Midway to complete the medevac. Watchstanders at the Coast Guard Joint Rescue Command Center Honolulu received a medevac
A 46-year-old man is receiving treatment in Oahu after being medevaced from Midway Atoll, Saturday, the U.S. Coast Guard reported. A Coast Guard airplane crew flew more than 1,300 miles from Oahu to Midway to medevac the injured crewmember after watchstanders at the Coast Guard Joint
A crew of 36 fishermen was rescued Sunday from a Papua New Guinean ship after an engine fire left the fishing vessel disabled roughly 200 miles off Tokelau, a territory of New Zealand in the South Pacific. The rescue was coordinated by the Rescue Coordination Centre New Zealand (RCCNZ)
Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind