The company behind the Gulf of Mexico gas rig which burned for two days last week following a blowout saw second quarter profits rise to $16.6million.
More than 40 workers were evacuated from the Hercules 265 rig last week after the South Timbalier well off Louisiana blew out.
But Houston-based Hercules Offshore says the accident should not overshadow its performance, after turning round a $52million loss in the same period last year, with revenues up 37% to $211.5million.
“While the incident at South Timbalier 220 involving the Hercules 265 will create some challenges, it should not detract from the positive developments that we have undertaken in recent months,” said Hercules chief executive John Rynd.
“Our culture of safety, which emphasizes crisis training and management, helped prepare us to respond to the incident in an effective and efficient manner. We also credit the quick response and leadership of the crew onboard to safely evacuate with no injuries. We are working closely with the governmental agencies and the customer to gather and assess details of the incident.”
Strong drilling levels in the Gulf of Mexico helped turn around the companies fortunes, aided by positive prices in the Gulf of Mexico market. Earlier this month it sold its domestic liftboats fleet to All Coast for $54.5million, while it also acquired Discovery Offshore to increase its jackup rig fleet.