Is Hercules Offshore still in business?

Is Hercules Offshore still in business?

The company filed for chapter 11 bankruptcy protection Sunday. Hercules Offshore Inc. has returned to bankruptcy protection, planning to sell off its assets and shut down just months after a balance sheet reshaping that was supposed to save the 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.

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.

Who is Hercules offshore and what do they do?

Hercules Offshore in short: provider of offshore contract drilling, liftboat and inland barge services Hercules Offshore is a leading provider of offshore contract drilling, liftboat and inland barge services with operations in ten countries on four continents.

When was Hercules offshore, inc.common stock cancelled?

The common stock of Hercules Offshore, Inc. was cancelled pursuant to the Plan. Under the Plan, holders of the common stock as of December 2, 2016 will receive, subject to certain conditions, their pro-rata share of the Rejection Shareholder Cash Distribution and Wind-Down Entity Interests in the HERO Liquidating Trust.

When did hero Liquidating Trust take over Hercules offshore?

On December 2, 2016, the Debtors’ Modified Joint Prepackaged Chapter 11 Plan (Incorporating Mediation Settlement) of Hercules Offshore, Inc. and its debtor affiliates (“Plan”) became effective and their assets were transferred to the HERO Liquidating Trust. The common stock of Hercules Offshore, Inc. was cancelled pursuant to the Plan.