Hercules jack-up delivery in doubt

US driller Hercules Offshore will likely not be able to make the final payment on a new high-specification jack-up set for delivery in the coming months after its lenders blocked access to an escrow account holding the necessary funds.

In the bank: Hercules cannot draw down escrow account to pay for rig delivery
In the bank: Hercules cannot draw down escrow account to pay for rig delivery
Published 22 April 2016, 19:02Updated 18 October 2016, 05:01