We served as exclusive financial advisor to Seahawk Drilling Inc. in the sale of all of the companies’ assets after the company and seven affiliates filed for Chapter 11 protection in Corpus Christie, TX. The companies were formerly affiliates of Pride International Inc. but had been spun off to Pride shareholders. They provide contract drilling services to the oil and natural gas exploration and production industry throughout the U.S. side of the Gulf of Mexico with a fleet of 20 shallow-water jackup rigs.
Hercules Offshore, Inc. was selected as the stalking-horse bidder to acquire all assets of Seahawk Drilling Inc. Hercules Offshore is a leading global provider of offshore contract drilling and liftboat services to the oil and gas industry.
Note: This work was performed prior to joining Stout.