| Gulf Rig Supplier May Be First to Exit Oil-Slump Bankruptcy | |
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Drillers around the world have also been suffering from a glut of new sophisticated vessels displacing older rigs in the market. Cal Dive International Inc., a contractor that does manned diving and platform installation, sought creditor protection in March. Six FilingsSince October, at least six oil and gas companies -- including explorers and servicers -- have filed for bankruptcy listing debt greater than $500 million, according to data compiled by Bloomberg. None has made it out yet. More from Bloomberg.com: Gross Tells Fed to `Get Off Zero Now!' as Economies Run on Empty Under the pre-bankruptcy deal, Hercules will be taken over by its senior noteholders in exchange for slashing the $1.2 billion they are owed. Some of the noteholders will lend the company $450 million to help finish building a new drilling rig, the company said in a statement. Hercules was able to get through quickly by spending nine months negotiating with creditors before it filed, Grillo said. By the time it sought bankruptcy protection on Aug. 13, it had won substantial noteholder support for its reorganization plan. Investors holding 99 percent of the notes voted for the proposal, Grillo said in court. More from Bloomberg.com: FBI Said to Recover Personal E-Mails From Hillary Clinton Server “The company started early in the process, even before there was a default,” he told U.S. Bankruptcy Judge Kevin Carey. The case is In re Hercules Offshore Inc., 15-11685, U.S. Bankruptcy Court, District of Delaware (Wilmington). More from Bloomberg.com Read Gulf Rig Supplier May Be First to Exit Oil-Slump Bankruptcy on bloomberg.com
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Hercules Offshore, Inc.
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CODE : HERO |
ISIN : US4270931094 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Hercules Offshore is based in United states of america. Hercules Offshore is listed in Germany and in United States of America. Its market capitalisation is US$ 82.0 billions as of today (€ 76.7 billions). Its stock quote reached its lowest recent point on October 12, 2015 at US$ 0.05, and its highest recent level on April 26, 2024 at US$ 19.61. Hercules Offshore has 4 183 629 824 shares outstanding. |