Hercules Offshore, Inc. Signs Purchase Agreement to Acquire Assets of Seahawk Drilling

Hercules Offshore, Inc. announced today that it has entered into an Asset Purchase Agreement with Seahawk Drilling, Inc. (Nasdaq:HAWK – News) and its affiliates (collectively “Seahawk”) to purchase 20 jackup rigs and related assets from Seahawk for approximately 22.3 million shares of Hercules Offshore common stock and cash consideration of $25 million, which will be used primarily to pay off Seahawk’s Debtor-in-Possession... Read more..