Hercules Offshore Completes Acquisition of Liftboat Fleet From Laborde Marine Lifts

HOUSTON, June 1 /PRNewswire/ --

Hercules Offshore, Inc. (Nasdaq: HERO) today completed the previously disclosed acquisition of a fleet of five liftboats from Laborde Marine Lifts, Inc. for US$49.3 million. In addition, Hercules assumed the construction of a sixth liftboat with expected delivery in July 2006. Pursuant to the terms of the purchase agreement, the original purchase price of US$52 million was reduced by US$2.6 million, which represents the total amount owed by Laborde Marine Lifts, Inc. under the construction contract for the sixth liftboat. The six liftboats have leg lengths ranging from 105 feet to 200 feet and are currently located in the Gulf of Mexico.

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Randy Stilley, Chief Executive Officer and President of Hercules Offshore, commented, "With two 175 class and two 200 class vessels, with an average age of only four years, this acquisition further enhances our ability to service all of our customers' needs and improves the age profile of our fleet."

Headquartered in Houston, Hercules Offshore owns a fleet of nine jackup drilling rigs and 51 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 shallow waters.

Web site: http://www.herculesoffshore.com

Stephen M. Butz, Director of Corporate Development of Hercules Offshore, Inc., +1-713-979-9832. Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050601/DAW092LOGO , AP Archive: http://photoarchive.ap.org , PRN Photo Desk, photodesk@prnewswire.com