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Hercules Offshore, Inc. (Huston, USA) has announced an agreement with Petrex Sudamerica Sucursal de Venezuela S.A. and Saipem Perfuracoes e Construcoes Petroliferas Lda. to sell nine of its drilling rigs and associated assets. Land-based assets include six land rigs in Venezuela, one rig in Trinidad and two in the U.S. The transaction of approximately $107 million is expected to be closed late in 4Q 2007.

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