Rig company Hercules Offshore said Wednesday its second quarter results were hurt by declining activity in the U.S. waters of the Gulf of Mexico. Hercules reported income from continuing operations of $6.6 million for the second quarter of 2014, compared to $16.6 million for second quarter 2014. President and Chief Executive Officer John Rynd said second quarter results reflected lower drilling activity and the transfer of properties in the U.S. Gulf of Mexico. “Our latest discussions with various domestic customers suggest activity levels will rebound late this year,” he said . Rynd added his company was taking proactive measures to cut down on costs. The lease rate for its fleet of rigs remains solid for its assets deployed in the Gulf of Mexico, he said, and relatively stable crude oil prices are supporting the company’s bottom line. “While our third quarter results will likely be impacted by the current […]