Hercules Offshore increases revolver to $250 million

By Sara Rosenberg

New York, April 30 - Hercules Offshore Inc. entered into an agreement with its existing lenders and certain new lenders to increase its revolving credit facility to $250 million from $150 million, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The increased revolver capacity will be used for working capital, capital expenditures and other general corporate purposes.

The revolver upsizing was completed on April 28.

UBS is the administrative agent on the deal.

Hercules Offshore is a Houston-based provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry.

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