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What: Shares of oil and natural gas exploration company Hercules Offshore
So what: Today's move follows a sympathy double-digit price surge Friday after federal regulators granted Noble Energy
Now what: Hercules investors definitely have a lot to be excited about right now, because the past few years have not been kind from an earnings perspective. The company gobbled up Seahawk's assets, which were valued at $397 million in its last quarterly filing, for a shade over $100 million. The production boost that Hercules may receive from these assets could be the bump it needs to turn a profit. It also doesn't hurt that oil prices are rising above $100. Even after a large run off its lows, Hercules is still trading considerably below its book value, and with these new assets on its books, I wouldn't be surprised to see Hercules continue to trend higher.
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