Hercules Offshore Expects to Emerge from Bankruptcy in Q4
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)
