December 1, 2016 / 10:46 PM / in a year

Hercules Offshore seeks court OK to sell Gulf of Mexico fleet

Hercules Offshore Inc on Wednesday asked the judge overseeing its second bankruptcy to approve a plan to sell its fleet of jack-up rigs in the Gulf of Mexico for $18 million to Enterprise Offshore Drilling LLC.

Hercules in papers filed in U.S. Bankruptcy Court in Delaware said the plan would save it nearly $2 million a month in maintenance costs and raise proceeds to distribute to stakeholders.

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