Hercules Offshore has received a notice from Saudi Aramco extending the contract for one of its jack-up drilling rigs operating in Saudi Arabia.

According to the drilling contractor, the contract for the jack-up Hercules 266 was extended until June 30, 2016.

Further, the dayrate for the Hercules 266 will remain at $63,650 per day through the term of the contract extension.

The dayrate for Hercules 266 was previously slashed in March 2016 from $67,000 per day to $63,650. Before that, in June 2015, the rig’s rate was reduced to $67,000 per day.

Saudi oil company in March also reduced dayrates for two other Hercules’ rigs, the Hercules 261 and Hercules 262, from $67,000 per day to $63,650 per day.

Hercules 266 is a jack-up rig of a Marathon LeTourneau Class 82-SD-C design. The rig was built in 1979 by Marathon Letourneau, Brownsville Tx. It is capable of operating in water depth of 250 ft, and its drilling depth rating is 20,000 ft.

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