The company on Monday said its subsidiary, Hercules International Drilling Ltd., entered into an agreement to sell the Hercules 267 to an undisclosed buyer for $3.16 million.

“The sale is expected to close imminently, subject to the satisfaction of customary closing conditions,”Hercules Offshore said.

To remind, the shallow-water offshore drilling contractor, which in November last year emerged from Chapter 11 bankruptcy, filed for bankruptcy in a Delaware court again on June 6, as per its May agreement with creditors.

The deal with creditors also calls for the company to place all of its unsold assets into a wind-down vehicle to “ensure their continued, safe operation until they can be sold.”

On of the first assets to be sold is the Hercules 267, a jack-up drilling rig built in Canada in 1979. According to Hercules Offshore’s last rig fleet status report, issued on March 23, 2016, the Hercules 267 rig was warm stacked in Gabon.