Drilling Rig Status Update from Rowan

Press Release
Sunday, December 23, 2012

Rowan Companies plc gives an update on notable events.

  • EXL I:  Changed day rate to mid $220s (previously mid $210s) due to amortization adjustment.
  • J.P. Bussell:  Rig is expected to be off rate for five days in 1Q 2013.
  • Scooter Yeargain:  Rig is expected to enter the shipyard in January 2013 (previously March 2013) for 105 days (previously 135 days) for customer-required equipment upgrades.
  • Gorilla VI:  Off rate time in 4Q 2012 was eight days instead of the previously expected 25 days.
  • Cecil Provine:  Off rate time in 4Q 2012 was 49 days instead of the previously expected 57 days.
  • Rowan Norway:  Rig is currently in the shipyard for contract requirements and is expected to commence operations early January 2013 (previously mid December 2012).  Rig is expected to be in the shipyard for approximately 80 days (previously 60 days) in 4Q 2012, part of which may be compensated.  If necessary, the day rate will be adjusted to reflect compensated shipyard days in a subsequent fleet status.  Changed day rate to the mid $350s (previously mid $360s) due to downward revision in expected reimbursement for modifications.
  • Rowan Stavanger: Off rate time in 4Q 2012 was 25 days instead of the previously expected 16 days.  Following completion of the well for Talisman in Norway in March 2013, the rig will operate in the U.K. sector of the North Sea at a day rate in the mid $240s through November 2013.  While the rig is working in the U.K. sector of the Rowan Viking:  Rig will enter the shipyard in February 2014 for equipment modifications and inspections for approximately 105 days (previously 30 days) prior to commencing its contract with Lundin for 15 wells in the Norwegian sector of the North Sea estimated to start in 2Q 2014.

The Company states it will not realize any day rate revenue during periods of off rate time, and crew costs will be capitalized during rig modifications and/or upgrades.

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

New AVEVA ISM Bridges the Gap

AVEVA launches a new application for governing asset information using a standards-based methodology. AVEVA announced the launch of AVEVA Information Standards Manager (AVEVA ISM),

General Dynamics gets $25 mi GPS Contract from Lockheed Martin

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $25.4 million full-production contract from Lockheed Martin to support the U.

Globecomm to Provide VSAT for PBJV Barge

Purpose-built accommodation and pipe-lay barge on charter to Petronas equipped with VSAT and L-Band services. Globecomm Maritime has been awarded a contract

Offshore

BOEM Extends O&G Lease Comment Period

The Bureau of Ocean Energy Management (BOEM) is extending the public comment period for the Request for Information (RFI) and Comments on the Preparation of the

Total E&P is First to Use FROG-XT4

Total E&P is the first to use Reflex Marine’s newly developed FROG-XT4 on the Odudu field in Nigeria. The French operator purchased the crew transfer device

New Standard gets Revised Program for Cooper Basin Approved

New Standard Energy Limited (New Standard) advises that it has received approval for amendments to its five year work program in PEL570 in the Cooper Basin. As part of the revised program,

Offshore Energy

BOEM Extends O&G Lease Comment Period

The Bureau of Ocean Energy Management (BOEM) is extending the public comment period for the Request for Information (RFI) and Comments on the Preparation of the

Total E&P is First to Use FROG-XT4

Total E&P is the first to use Reflex Marine’s newly developed FROG-XT4 on the Odudu field in Nigeria. The French operator purchased the crew transfer device

Russia, China May Develop Floating Nuclear Power Plants

Russia and the world's top energy user China may jointly develop six floating nuclear power plants (NPPs), Russia's nuclear export body said on Tuesday, a further

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1229 sec (8 req/sec)