Rowan's Fleet Status Update
Rowan Companies plc informed today that its monthly report of drilling rig status and contract details have been updated as of November 20, 2014. Rowan Louisiana: As previously indicated, awarded a one-well contract with an estimated minimum duration of 45 days with EnVen in the Gulf of Mexico at $85,000 per day, which commenced in mid-November 2014. Rowan Resolute: As previously indicated, commenced operations on October 16, 2014 in the US Gulf of Mexico. Increased previously planned 4Q 2014 off rate time by 20 days to a total of 27 days in order to complete certain commissioning tasks. Rowan Gorilla VI: As previously indicated, commenced operations in early September 2014. Increased off rate time by 19 days to a total of 26 days during 4Q 2014.
Rowan Nets Contract Offshore Saudi Arabia
Rowan Companies announced that its Tarzan Class jack-up, Bob Keller, has been awarded a term drilling contract for work offshore Saudi Arabia. The contract provides for a three-year term, over which the Company expects total revenues of approximately $201 million, and contains an option for a fourth year. The Bob Keller recently concluded work in the Gulf of Mexico and is en route to the Middle East. The rig is expected to commence drilling operations during the second quarter of 2008. Danny McNease, Rowan Chairman and Chief Executive Officer, commented, "We are pleased to grow our relationship with Saudi Aramco and again want to thank Rawabi Trading & Contracting Co. Ltd. for their continuing assistance. Just two years ago, we re-entered the Middle East market after a 25-year absence.
