Is Hercules Offshore still in business?

Is Hercules Offshore still in business?

Hercules Offshore (ticker: HERO) announced today that it has decided to return to Chapter 11 bankruptcy less than seven months after the company’s initial bankruptcy claim. Hercules plans to dissolve the company and sell all remaining assets instead of restructuring and staying in business.

Who bought Hercules Offshore?

ADES
On December 3, 2016, Hercules offshore also recently sold two other jack-up rigs — the Hercules Resilience and Hercules Triumph — to the Norwegian offshore drilling contractor Borr Drilling for a total of $130 million. On September 2, 2016, ADES purchased the Hercules 261, 262 and 266 for $65.1 million in cash.

What is the biggest drilling rig?

The Hibernia platform in Canada is the world’s largest (in terms of weight) offshore platform, located on the Jeanne D’Arc Basin, in the Atlantic Ocean off the coast of Newfoundland.

What is a jackup rig offshore?

A jackup rig or a self-elevating unit is a type of mobile platform that consists of a buoyant hull fitted with a number of movable legs, capable of raising its hull over the surface of the sea. The buoyant hull enables transportation of the unit and all attached machinery to a desired location.

Where is Hercules Offshore located?

Houston, Texas
Hercules Offshore is located in Houston, Texas, United States .

Where is Hercules Offshore?

Houston
Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 40 jackup rigs, including two Keppel FELS Super A high-specification, harsh-environment jackup rigs, and 24 liftboats.

What is the deepest offshore oil rig?

Perdido
Perdido (spanish for lost) is the deepest floating oil platform in the world at a water depth of about 2450 meters (8040 feet) operated by the Shell Oil Company in the Gulf of Mexico. At 267 meters, the above water portion of the structure is almost as tall as the Eiffel Tower.

What is the jack-up rig?

A jack-up rig is a floating drilling rig with (typically) three retractable legs which can be raised while the rig is moved onto location (either self-propelled or towed) and lowered into the seabed to jack-up (lift) the rig to a safe height above the water level, cantilever the rig to the desired surface location of …

Can an oil rig survive a hurricane?

o Though 113 platforms were destroyed by Hurricanes Katrina and Rita, there are over 4,000 platforms in the Gulf of Mexico. This means that over 97 percent of the platforms survived these record-breaking storms. o Platforms are designed to withstand both gale force winds and and severe wave activity.

What does a drillship do?

A drillship is a merchant vessel designed for use in exploratory offshore drilling of new oil and gas wells or for scientific drilling purposes. In most recent years the vessels are used in deepwater and ultra-deepwater applications, equipped with the latest and most advanced dynamic positioning systems.