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Hercules Offshore buys liftboat Titan 2
Hercules Offshore, Inc. (Nasdaq: HERO) reports the execution of a definitive agreement to acquire the liftboat Titan 2 from a subsidiary of KS Energy Ltd. The purchase price is $42 million in cash. The Titan 2 is a 280 foot class vessel, constructed in 2008, registered and flagged in Panama, and currently located in Limbe, Cameroon. Hercules Offshore expects the acquisition to close in early March 2013.
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