Mosvold hires Hercules to manage rigs

Mosvold and Hercules Offshore have struck a rig management deal, according to a Raymond James research report.

Offshore staff

HOUSTON -- Mosvold and Hercules Offshore have struck a rig management deal, according to a Raymond James research report. Mosvold has two newbuild jackups and will pay Hercules a marketing fee once it secures contracts as well as management fees to run the rigs once they have been delivered, the report says.

The analyst projects Hercules could gross at least $4 million in 2010 from these fees.

2/12/2009

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