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Hercules Offshore, Inc. Message Board

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  • robertnupstatecarolina robertnupstatecarolina Feb 12, 2011 1:41 PM Flag

    DEAL?

    Does anybody have some knowledge as to when Hero starts the P&A work the federal government mandated? Plugging 3,500 oil wells and removing 600 + platforms could require alot of equipment. Management could already know this and realize the revenue stream will be there to support the Hawk asset purchase.

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    • It's a great question. Don't know the answer, but if this work sees them through, to a point in which shallow water drilling is coming back, it could be why they felt secure in doing this deal, as you point out.

      I'm wondering, too, if jonoakley factored this coming work, in his evaluation of HERO.

      • 1 Reply to longtimefollower
      • The real question is will the government ever allow drilling again. HERO may have to wait until a more friendly adm come into power. Just think of all the well paying jobs that could be created if the government would allow drilling and issued new leases not to mention the lower oil prices. Hero will have to wait at least two to three years and possibily longer. IMHO that is why the stock is trading low and now that they will add another 22M shares, I think you may see a pop but there is still a lot of uncertainty facing them. I'd like to see the earnings for a few quarters to see how they hold up.

 
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