Hercules Offshore Gets Contracts from ONGC

Monday, December 10, 2007
Drilling-rig operator Hercules Offshore Inc said Indian state-run explorer Oil and Natural Gas Corp Ltd awarded three-year contracts for two jackup rigs for drilling operations in offshore India. Houston-based Hercules Offshore expects revenue of about $121m for jackup rig Hercules 258 and about $156.6 million for Hercules 260, which excludes payment to the company of reimbursable expenses and a total of about $6.5 million for mobilization of both rigs.

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