Marine Log

April 12, 2006

Hercules Offshore prices IPO

Houston-based Hercules Offshore, Inc. today announced the pricing of a public offering of 8,000,000 shares of its common stock at $36 per share. Of the 8,000,000 shares offered, only 1,600,000 shares were offered by Hercules as newly issued shares of common stock, while the remaining 6,400,000 shares were offered by selling stockholders. Hercules expects to receive approximately $54.3 million of proceeds from the offering, net of underwriting fees and estimated expenses. Hercules intends to use the proceeds to repay debt and for other general corporate purposes.

Hercules Offshore provides shallow-water drilling and liftboat services to the oil and natural gas exploration and production industry. It currently owns a fleet of nine jackup rigs that can drill in maximum water depths ranging from 85 to 250 feet and a fleet of 46 liftboats with leg lengths ranging from 105 to 260 feet.

The offering is expected to close on April 18, 2006, subject to customary closing conditions. Shares of Hercules common stock are listed on the NASDAQ National Market under the symbol "HERO."

In addition, the selling stockholders have granted the underwriters an option to purchase up to an additional 1,200,000 shares currently held by the selling stockholders to cover over-allotments, if any.

Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are serving as joint bookrunning managers of the offering.

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