One-Page Deal Sheet
Hercules Offshore Acquires Premier Liftboat Titan 2
Hercules Offshore, Inc. Wm Ks Energy Resourc
Announced Date
February 28,2013
Close Date
February 28,2013
Transaction Type
Asset
Location
Region
North America
Country
United States
State
Texas
Transaction Details: Subscribe to see
Shallow-water driller Hercules Offshore has signed a definitive agreement to acquire the liftboat Titan 2, a 280-foot class vessel built in 2008, from a subsidiary of KS Energy for $42 million in cash. It expects the acquisition of the Panamanian registered and flagged vessel to close early next month.
With the Titan 2 currently located in Limbe, Cameroon, Hercules is looking to capitalize on strong demand for larger vessel classes in West Africa. The driller's president and CEO John T. Rynd was quoted as saying, "Our acquisition of the Titan 2 expands our opportunity set in the region to…
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