Hercules signs 5-year contract with Eni in West Africa (Scandinavian Oil-Gas Magazine)

Hercules signs 5-year contract with Eni in West Africa

Published Apr 6, 2015

Hercules Offshore has signed a five-year contract with a subsidiary of Eni S.p.A. for use of the Hercules 260 in West Africa.

The day rate under the contract will range from a minimum of $75,000 per day when the price of Brent crude oil is $86 or less per barrel, to a maximum of $125,000 per day when the price of Brent crude oil is $125 or more per barrel.

Contract commencement is expected in early April 2015. Costs for contract specific upgrades will be reimbursed by the operator.

Tags: Eni S.p.A., Hercules Offshore

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