Hercules Offshore Provides Further Information On Incident On Jackup Drilling Rig Hercules 265

Houston, July 24, 2013

Hercules Offshore (NASDAQ: HERO) today provided further information the incident aboard jackup drilling rig Hercules 265, a 250' mat-supported cantilevered unit, operating for Walter Oil & Gas Corporation in the U.S. Gulf of Mexico OCS lease block South Timbalier 220. Based on a visual flyover inspection conducted by Hercules Offshore, the jackup rig is still standing, however it appears to have sustained extensive damage to the derrick package as a result of the continuing fire that ignited yesterday evening.

The visual inspection revealed debris near the well site. The Company, Walter Oil & Gas and regulatory authorities are continuing to review the area for potential environmental impacts. The Company has contracted an outside environmental expert to monitor currents, wind direction and wave height for the potential trajectory of any conceivable environmental spill.

The Company is working with Walter Oil & Gas and their third party expert in efforts to regain control of the natural gas well, including preparation to drill a relief well. In the event that a relief well is necessary, the Company is preparing to promptly mobilize the Hercules 200, a 200' mat-supported cantilevered unit to execute drilling of the relief well.

The Company continues to coordinate response activities with the U.S. Coast Guard and the Bureau of Safety and Environmental Enforcement. As previously reported, all 44 personnel aboard the jackup rig were safely evacuated during the afternoon of July 23rd. There have been no injuries sustained as a result of this incident.

Hercules Offshore Provides Update To Incident On Jackup Drilling Rig Hercules 265

Houston, July 24, 2013

Hercules Offshore (NASDAQ: HERO) today provided updates to the incident aboard jackup drilling rig Hercules 265, a 250' mat-supported cantilevered unit, operating for Walter Oil & Gas Corporation in the U.S. Gulf of Mexico OCS lease block South Timbalier 220. Late yesterday evening, the natural gas flowing from the well ignited which spread to the rig. The extent of the damage to the rig is currently unknown. The Company is currently working with its customer, Walter Oil & Gas, and regulatory authorities to determine the cause of the incident, but our immediate focus is on stopping the flow of natural gas from the well. All parties involved are working with third-party experts to develop a plan to regain control over the natural gas well, which could include the drilling of a relief well.

The Company is awaiting daylight to assess any potential environmental incident.

As previously reported, all 44 personnel aboard the jackup rig were safely evacuated during the afternoon of July 23rd. There have been no injuries sustained as a result of this incident.

Hercules Offshore Encounters Well Control Incident On Jackup Drilling Rig Hercules 265

Houston, July 23, 2013

Hercules Offshore (NASDAQ: HERO) today announced that it is experiencing a well control incident on jackup drilling rig Hercules 265, a 250' mat-supported cantilevered unit. Efforts are ongoing to regain control of the natural gas well. At this time, all personnel on board have been evacuated and are being transported to a secure location.

The rig is currently operating for Walter Oil & Gas Corporation in the U.S. Gulf of Mexico OCS lease block South Timbalier 220. All necessary governmental authorities have been notified of the incident

"Our first and foremost concern is for the safety of all personnel aboard our drilling rig and we have taken every necessary precaution to safely evacuate the rig. Furthermore, efforts are ongoing with our client, Walter Oil & Gas, to mobilize the necessary resources to regain control of the well and minimize any potential impact on the environment," said John T. Rynd, CEO and President of Hercules Offshore.

About Hercules Offshore
Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 40 jackup rig, including two Keppel FELS Super A high-specification, harsh-environment jackup rigs, and 24 liftboats. The Company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world. For more information, please visit our website at http://www.herculesoffshore.com.

Hercules Offshore, Inc. press release