U.S. rig company Hercules Offshore said Monday its clients in Saudi Arabia withdrew a notice to terminate a contract for its services. Hercules said Saudi Aramco withdrew its notice of termination for rig Hercules 261, “declaring that all terms and conditions of the contract remain in full force and effect for the remainder of the five-year term of the contract.” Hercules in February said it was engaged in talks with the Saudi oil company to reduce the day rates for two other rigs, Hercules 262 and Hercules 266, when the contract was suspended. Hercules 261 is listed in the company’s fleet status update as having a day rate around $135,000. Rigs 262 and 266 have a combined average day rate of around $118,000. “Notwithstanding the receipt of […]