Rowan Orders 4 More Rigs

Thursday, November 01, 2007
Rowan Companies, Inc. entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010. Rowan's total cost of each rig is expected to average approximately $175 million, with more than one-third of that amount attributable to the cost value of the design, kit components and drilling equipment to be provided by the Company's manufacturing businesses.

Rowan will also build two additional 240-C class jack-ups at its own Vicksburg, Mississippi shipyard for delivery in the third quarters of 2010 and 2011, at a total cost of approximately $400 million. The 240-C was designed to be a significant upgrade of the original 116-C class, which has been the "workhorse" of the global drilling industry since its introduction in the late 1970s. The Company's first two 240-C rigs are currently under construction at Vicksburg, with delivery expected in the third quarters of 2008 and 2009.

Danny McNease, Chairman and Chief Executive Officer, commented, "We have continued to experience unprecedented global demand for premium drilling equipment. Each of these new rigs will employ the latest technology to be able to efficiently drill high-pressure, high-temperature and extended-reach wells in just about every prominent jack-up market throughout the world. All six of these new rigs will be equipped to reach 35,000 feet.

"The construction contracts with Keppel AmFELS afford us the opportunity to accelerate the expansion of our offshore drilling business by partnering with a first class organization and shipyard. We will provide our innovative rig design and drilling equipment to this project in further testament to the synergies between our drilling and manufacturing divisions, resulting in an average $20 million cost savings per rig and a proportionately higher return on our investment."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Hercules Offshore Filing for Bankruptcy Again

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.

DONG Energy Listing to Value Group at up to $16 Bln

DONG Energy's has set a potential $16 billion price tag on its stock market debut, giving investors a chance to buy into the growth in offshore wind power, but

Østensjø Rederi Orders Another Wind Farm Vessel

Rolls-Royce has signed a contract with shipyard Astilleros Gondan in Spain to design and equip a second Service Operation Vessel for ship owner Østensjø Rederi.

Cruise Ship Trends

Royal Caribbean Orders 3 Ships from STX

Following the delivery of Harmony of the Seas on May 12 in Saint-Nazaire, the American group Royal Caribbean Cruises Ltd. signed an order for three additional vessels,

FAL Engages Inland Marine Service for Marine Operations

French America Line, the newest U.S. cruise line that begins sailing five- to 10-day cruise itineraries aboard its intimate 75-stateroom flagship Louisiane in August,

Mumbai Port to Revamp Int'l Cruise Terminal

Indian Merchants’ Chamber provides a platform to urban developers to address various issues pertaining to the restructuring of Mumbai City Mumbai, May 23, 2016:

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0815 sec (12 req/sec)