Obama’s Offshore Drilling Moratorium Working Like a Charm – Seahawk Drilling Files For Bankruptcy

Yup, more jobs in the unemployment line saved and/or created by Our Dark O’verlord:

Seahawk Drilling seeks bankruptcy, to sell assets

Via USA Today

HOUSTON (AP) ā€” Seahawk Drilling Inc. said it has filed for bankruptcy protection and plans to sell its fleet of offshore drilling rigs to a competitor for $105 million.

Seahawk, which announced the deal with Hercules Offshore Inc. Friday, has been hurt by a slowdown in Gulf of Mexico drilling after the BP oil spill last April. The government halted drilling in deep waters and imposed tough new rules that have curtained all energy exploration in U.S. waters.

Seahawk owns a fleet of 20 jackup rigs for shallow water exploration, while Hercules owns 30 rigs, vessels and other equipment. It also provides drilling services. The deal creates a larger company with a more diverse fleet and greater operational flexibility, Seahawk said.

Both companies are based in Houston.

[…]

Explore posts in the same categories: business, Obama Sucks, politics

One Comment on “Obama’s Offshore Drilling Moratorium Working Like a Charm – Seahawk Drilling Files For Bankruptcy”

  1. Big Frank Says:

    Just as I have suspected all along, Comrade Obama and his Commie Cabal plans to turn this great nation into a broken and bankrupt third world country are moving right along.


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