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Oil & Gas Exploration & Production M&A image Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Fri., Mar. 29, 11:10 AM Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.

Slide #79. Hercules Offshore, Inc. Ben Avon

Acquirer: Hercules Offshore, Inc. (NASDAQ:HERO)
Acquiree: Ben Avon
Details: Hercules Offshore, Inc. (Nasdaq: HERO) announced today the execution of an agreement to acquire the offshore drilling rig Ben Avon from a subsidiary of KCA Deutag. The purchase price is $55 million in cash. The Ben Avon is a LeTourneau Class 82 SD-C self-elevating drilling rig registered and flagged in Panama. Subject to completion of certain closing conditions, the Company expects the acquisition to close by late-March 2013.

Hercules Offshore is a holding company. Co. is a provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry. As of Feb 19 2015, Co. conducted its businesses through the following segments: Domestic Offshore, which consisted of 24 jackup rigs in the U.S. Gulf of Mexico; International Offshore, which consisted of nine jackup rigs outside of the U.S. Gulf of Mexico; and International Liftboats, which included 24 liftboats in West Africa and in the Middles East region. Co.'s fleet provides services such as oil and gas exploration and development drilling, well service, platform inspection, maintenance, and decommissioning operations.

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Company Name: 
Hercules Offshore Inc
Website: 
www.herculesoffshore.com
Sector: 
Oil & Gas Equipment & Services
 

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