U.S. rig company Hercules Offshore said Monday it was returning to Chapter 11 bankruptcy and now planning to sell off all of its assets. Crude oil prices are up more than 80 percent from their 2016 lows below $30 per barrel, though Hercules CEO John Rynd said recently the recovery was not strong enough for his company, which emerged from bankruptcy in November Hercules reported a net loss of $26.9 million on revenue of $50.9 million for the first quarter, compared with a net loss of $57.1 million on revenue of $122.6 million year-on-year. Operating expenses, meanwhile, were $11.7 million, compared with $36 million year-on-year. The company had a series of rig contracts […]