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Saudi Aramco axes Hercules jack-up rig contract

27th February 2015

Hercules Offshore has received a notice from Saudi Aramco terminating its drilling contract for the Hercules 261, effective March 27, 2015

Hercules Offshore has received a notice from Saudi Aramco terminating its drilling contract for the Hercules 261, effective March 27, 2015
The company is in the process of seeking a basis for continuing the Hercules 261 contract. Source: Hercules Drilling

The company is in the process of seeking a basis for continuing the Hercules 261 contract.

As previously disclosed, the company has been in discussions with Saudi Aramco about a possible rate reduction on the Hercules 262 and Hercules 266.

Hercules has not received a notice of termination from Saudi Aramco with respect to these rigs.

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