Hercules Discovery Ltd., a wholly owned subsidiary of Hercules Offshore, Inc. (" Hercules" ), has on 24 June 2013 agreed to purchase an additional 14,579,872 shares in Discovery Offshore S.A. (" Discovery" ) at a price of NOK 15.00 per share in direct transactions with certain selling shareholders. Following completion of this acquisition of shares by Hercules Discovery Ltd., together with the 21,012,834 shares already owned by Hercules and the acquisition of 17,958,447 shares announced earlier today, Hercules' total ownership in Discovery will amount to 53,551,153 shares corresponding to 81.8% of all issued shares in Discovery. As announced earlier today, the acquisition of shares by Hercules Discovery Ltd. triggers an obligation to make a mandatory offer for all of the outstanding shares in Discovery (the " Offer" ). This notification does not constitute an offer. The Offer will only be made on the basis of the offer document and can only be accepted pursuant to the terms of such document. Hercules, through Hercules Discovery Ltd., will make the Offer within the time limit set out in the Norwegian Securities Trading Act. In the context of the Offer, the price of NOK 15.00 is the highest price paid or agreed to be paid per share in Discovery by Hercules during the last 6 months. Hercules executives, Stephen M. Butz and James W. Noe, serve on the board of directors of Discovery. About Discovery: Discovery Offshore is a Luxembourg-based public limited liability company incorporated on 12 January 2011 for the purpose of owning new ultra high specification jackup drilling rigs. Discovery Offshore's main assets are two Keppel FELS Super A high specification harsh environment jackup rigs. The first rig, Discovery Triumph, was delivered on June 7, 2013 and delivery of the second rig, Discovery Resilience, is scheduled for October 2013. For additional information about Discovery Offshore S.A., please visit Discovery's website at www.discoveryoffshore.lu. About Hercules: Hercules is a Delaware corporation headquartered in Houston, Texas. Its shares are traded on the NASDAQ Global Select Market under the symbol " HERO" . Hercules operates a fleet of 38 jackup rigs, 13 barge rigs and 63 liftboats. The Company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world. For more information, please visit Hercules' website at www.herculesoffshore.com. Contact person: Son P. Vann, CFA svann@herculesoffshore.com +1-713-350-8508

 

  http://www.keppelom.com/en/news_item.aspx?sid=2605& aid=3961

 

01-June-2013

Keppel delivers first KFELS Super A Class rig for harsh environments

Keppel FELS Limited (Keppel FELS) has delivered its first KFELS Super A Class jackup rig to Discovery Offshore S.A. (Discovery Offshore), which is managed by NASDAQ-listed Hercules Offshore, Inc. (Hercules Offshore).

Named Discovery Triumph at a ceremony today, the first KFELS Super A Class jackup has been delivered 46 days ahead of schedule and with a perfect safety record.

The ultra high-specification jackup rig has been designed for the harsh environmental conditions of the North Sea (UK Sector). Its enhanced leg design incorporates Keppel's proven and reliable high capacity rack and pinion jacking system which ensures that the rig is able to jack up and stand firm in a secure and safe manner even in challenging environments.

Mr Wong Kok Seng, Managing Director (Offshore), Keppel Offshore & Marine and Managing Director, Keppel FELS said, " In developing the KFELS Super A Class, we have brought together the winning features of our proven jackup rig designs to provide operators with a robust and cost-effective drilling rig for harsh environments and cold climate areas. We are pleased that Discovery Offshore has selected this design for their first two harsh environment rigs.

" Although it is a new design, our expertise and strong engineering, construction and project management experience has enabled us to deliver it ahead of schedule while achieving an excellent safety record. We look forward to delivering the second KFELS Super A Class to Discovery Offshore just as efficiently."

Developed by Keppel FELS' R& D arm, Offshore Technology Development (OTD), the KFELS Super A Class is an enhancement of the successful and proven KFELS A Class design. Discovery Triumph has been customised to meet the requirements of Discovery Offshore and is capable of operating in water depths of 400 feet and drilling depths of 35,000 feet.

Mr John T. Rynd, CEO of Hercules Offshore added, " With the strong demand for rigs capable of working in the North Sea, we believe the KFELS Super A Class is a value proposition rig with leading performance compared to ultra high specification jackups of its class. It provides higher variable load, better drilling capabilities, better cantilever load performance and a larger deck space. Keppel-designed rigs have a strong track record of being industry benchmarks and we are confident that Discovery Triumph will be just as successful and exceed the expectations and requirements of all our customers.

" As this North Sea-compliant rig is able to operate efficiently in virtually all parts of the world outside Norway and the Arctic, we also see many opportunities for it to be deployed in other parts of the world to generate maximum utilisation. With another KFELS Super A Class rig about to join Discovery Triumph later this year, we are well positioned to become a strong player in harsh environment drilling."

Keppel FELS is currently building another KFELS Super A Class jackup rig for Discovery Offshore as well as another three for Ensco.

For greater operational safety, the KFELS Super A Class is equipped with the state-of-the-art pinion overload detection, rack phase difference detection, and brake failure and overload protection devices. In addition to having strong drilling capabilities and cantilever load performance, the KFELS Super A Class has a two million pound hook load drilling system and includes a spacious deck and amenities to accommodate 150 men.

-END-

 

  http://www.keppelom.com/en/news_item.aspx?sid=2605& aid=3961

 

01-June-2013

Keppel delivers first KFELS Super A Class rig for harsh environments

Keppel FELS Limited (Keppel FELS) has delivered its first KFELS Super A Class jackup rig to Discovery Offshore S.A. (Discovery Offshore), which is managed by NASDAQ-listed Hercules Offshore, Inc. (Hercules Offshore).

Named Discovery Triumph at a ceremony today, the first KFELS Super A Class jackup has been delivered 46 days ahead of schedule and with a perfect safety record.

The ultra high-specification jackup rig has been designed for the harsh environmental conditions of the North Sea (UK Sector). Its enhanced leg design incorporates Keppel's proven and reliable high capacity rack and pinion jacking system which ensures that the rig is able to jack up and stand firm in a secure and safe manner even in challenging environments.

Mr Wong Kok Seng, Managing Director (Offshore), Keppel Offshore & Marine and Managing Director, Keppel FELS said, " In developing the KFELS Super A Class, we have brought together the winning features of our proven jackup rig designs to provide operators with a robust and cost-effective drilling rig for harsh environments and cold climate areas. We are pleased that Discovery Offshore has selected this design for their first two harsh environment rigs.

" Although it is a new design, our expertise and strong engineering, construction and project management experience has enabled us to deliver it ahead of schedule while achieving an excellent safety record. We look forward to delivering the second KFELS Super A Class to Discovery Offshore just as efficiently."

Developed by Keppel FELS' R& D arm, Offshore Technology Development (OTD), the KFELS Super A Class is an enhancement of the successful and proven KFELS A Class design. Discovery Triumph has been customised to meet the requirements of Discovery Offshore and is capable of operating in water depths of 400 feet and drilling depths of 35,000 feet.

Mr John T. Rynd, CEO of Hercules Offshore added, " With the strong demand for rigs capable of working in the North Sea, we believe the KFELS Super A Class is a value proposition rig with leading performance compared to ultra high specification jackups of its class. It provides higher variable load, better drilling capabilities, better cantilever load performance and a larger deck space. Keppel-designed rigs have a strong track record of being industry benchmarks and we are confident that Discovery Triumph will be just as successful and exceed the expectations and requirements of all our customers.

" As this North Sea-compliant rig is able to operate efficiently in virtually all parts of the world outside Norway and the Arctic, we also see many opportunities for it to be deployed in other parts of the world to generate maximum utilisation. With another KFELS Super A Class rig about to join Discovery Triumph later this year, we are well positioned to become a strong player in harsh environment drilling."

Keppel FELS is currently building another KFELS Super A Class jackup rig for Discovery Offshore as well as another three for Ensco.

For greater operational safety, the KFELS Super A Class is equipped with the state-of-the-art pinion overload detection, rack phase difference detection, and brake failure and overload protection devices. In addition to having strong drilling capabilities and cantilever load performance, the KFELS Super A Class has a two million pound hook load drilling system and includes a spacious deck and amenities to accommodate 150 men.

-END-