Hercules completes Todco acquisition

Offshore staff

HOUSTON -- Houston-based Hercules Offshore Inc. has completed the acquisition of Todco.

"With the world's fourth largest fleet of jackups, largest fleet of both barge drilling rigs and liftboats, Hercules Offshore is now positioned as one of the leading shallow water oil service providers globally," says Randy Stilley, president and CEO, Hercules Offshore.

"Our strategic vision remains focused on growth through acquisitions, expanding geographic diversity, financial discipline, and preserving our status as an environmentally sound and cost effective provider."

Hercules operates a fleet of 33 jackup rigs, 27 barge rigs, 65 liftboats, three submersible rigs, nine land rigs, and one platform rig.

7/11/2007