Gulf jack-up operator eyes strategic alternatives

BOEMRE Director Michael R. Bromwich may be in denial about its existence, but the de facto moratorium on issuance of new shallow water drilling permits looks to be real enough to be forcing Houston headquartered Seahawk Drilling, Inc. (Nasdaq:HAWK) to seek a buyer. The company,which owns and operates a fleet of 20 jackup rigs that are located in the Gulf of Mexico said today that its Board of Directors "has initiated a process to explore and consider possible strategic alternatives for enhancing shareholder value."
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Source: Marine Log