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The world’s largest oil producer canceled an offshore contract with Hercules Offshore
Saudi Aramco, the world’s largest oil producer, cancelled a contract with Hercules Offshore (ticker: HERO) last week, according to HERO. The termination of the contract for Hercules Offshore’s Hercules 261 is effective March 27, 2015. Initially, the contract was set to expire in late 2019.

Hercules 261 is a Marathon Letourneau Class 82-SDC with a designed water depth of 250 feet and a drilling depth rating of 20,000 feet.

In the company’s release, Hercu...

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