HOUSTON, Feb. 26, 2015 /PRNewswire/ -- Hercules Offshore, Inc. (NASDAQ: HERO) announced that it has received a notice from Saudi Aramco terminating its drilling contract for the Hercules 261, effective March 27, 2015. The Company is in the process of seeking a basis for continuing the Hercules 261 contract. As previously disclosed, the Company has been in discussions with Saudi Aramco about a possible rate reduction on the Hercules 262 and Hercules 266.  The Company has not received a notice of termination from Saudi Aramco with respect to these rigs.

About Hercules Offshore

Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 33 jackup rigs, including one rig under construction, and 24 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 our website at http://www.herculesoffshore.com.

Statements above that are not historical fact are forward-looking statements, including the status of contract discussions, day rates and potential contract terminations. Forward-looking statements by their nature involve substantial risks, uncertainties and assumptions, including without limitation, contract renegotiations with customers, early termination by the customer pursuant to the contract or otherwise, government and regulatory actions and other factors described in the risks and uncertainties described in our periodic reports filed with the Securities and Exchange Commission. Many of these factors are beyond our ability to control or predict. 

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SOURCE Hercules Offshore, Inc.

Craig Muirhead, Vice President, Investor Relations and Planning, Hercules Offshore, Inc., 713-350-8346

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