Hercules Offshore Acquires Two Jack-up Rigs

Hercules Offshore, LLC, a leading jack-up drilling and liftboat contractor in the Gulf of Mexico, announced today the acquisition of two jack-up rigs in separate transactions. On January 4, 2005, Hercules Drilling Company LLC, a subsidiary of Hercules Offshore, LLC, completed the acquisition of Rig 25J from Parker Drilling Offshore USA, LLC, a subsidiary of Parker Drilling Company. Rig 25J is an independent leg cantilever jack-up capable working in water depths of 200 feet. On January 13, 2005, Hercules Drilling Company completed the acquisition of the Odin Victory from Porterhouse Offshore L.P. The Odin Victory is a mat- supported jack-up capable of working in water depths of 250 feet. Both Rig 25J and the Odin Victory, which will be renamed Rig 30 are working under short-term contracts in the U.S. Gulf of Mexico.