Rowan Drilling News

Two offshore drilling rigs, previously used for oil and gas exploration beneath the seabed, could soon help with space exploration.Namely, according to multiple reports this week, a company linked to billionaire Elon Musk bought two deepwater semi-submersible drilling rigs last year, with plans - reportedly - to convert them into floating launch pads for Musk's SpaceX rockets.SpaceX, or Space Exploration Technologies Corp, was founded by Musk back in 2002 to cut space transportation costs and enable the colonization of Mars.According to CNBC, a company named Lone Star Mineral Development, linked to Musk's Space X firm, in July 2020 bought two semi-submersible drilling rigs from Valaris.

Virtual Marine Technology (VMT) provided its SurvivalQuest lifeboat simulator training system to Rowan Companies for lifeboat launch and recovery training to lifeboat operators and marine crews, complementing weekly safety drills conducted onboard Rowan drilling rigs. “Deploying the lifeboat simulator training system at Rowan will provide us with realistic training and competency assessment of lifeboat coxswains and marine crews, in a safe and controlled environment,” saysid Michael Lawson, Vice President - HSE and Marine.

A joint industry project on jacking system maintenance and inspection has resulted in a new DNV GL Recommended Practice. This provides guidance to ensure the correct and safe functioning of rack and pinion style jacking systems. The objective is to reduce the risk of gear failure, resulting in lower costs and higher availability throughout the asset’s life time. The consequences of jacking gear failure can be severe and, while the problem is acknowledged by the industry, the correct maintenance and inspection of the jacking systems have proven to be challenging due to the high turnover of people with specific knowledge on board, the evolving nature of the systems and the intermittent use of the systems.

Dron & Dickson  has secured a two-year contract with Rowan Drilling for a project that will see Dron & Dickson provide lighting and electrical equipment to Rowan Drilling’s offshore assets in the U.K. North Sea for the next two years. Tom Irwin, Business Development Manager at Dron & Dickson, said, “This contract stands as a testament to our relationship with Rowan Drilling, with whom we have been working closely with over the last few years. We look forward to continuing this working relationship as we develop and enhance our product offering.

Keppel Offshore & Marine Ltd., through its wholly-owned subsidiaries, Keppel FELS and Keppel Verolme, has secured upgrade and repair contracts totaling about S$100million from repeat customers. Keppel FELS in Singapore will be undertaking the upgrade and modification of a semisubmersible (semi) for Ensco while Keppel Verolme will be upgrading a jackup rig for Rowan and repairing a semi for Saipem. Chow Yew Yuen, Chief Operating Officer and CEO-Designate of Keppel O&M said, “Besides newbuidling projects, our yards are constantly kept busy with repairs and upgrades as well.

Rowan Companies, Inc. (NYSE: RDC) announced today that a subsidiary has entered into turnkey contracts for the construction of two ultra-deepwater drillships with a cost of approximately $605 million each. The drillships will be constructed by Hyundai Heavy Industries Co., Ltd. ("HHI") at its Ulsan shipyard, and are expected to be delivered in late 2013 and mid-2014. Matt Ralls, President and Chief Executive Officer, commented, "Our long-stated strategy has been to focus on and diversify our offshore drilling business, and we are excited to take this first step into the ultra-deepwater sector.

Keppel AmFELS L.L.C., the U.S. wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), is on track to deliver the second of four EXL rigs to Rowan Drilling Companies, Inc. (Rowan) on time, within budget and with zero lost-time incidents. The rig, christened Rowan EXL-II last Friday, is scheduled for delivery on 31 August and will depart the Keppel AmFELS yard within the next month. It is expected to be deployed to Trinidad for three years under contract with BP Trinidad and Tobago. Construction for the Rowan EXL-II began in April 2008. Built as an enhancement of the LeTourneau Super 116E design with leg lengths of 511ft.

Keppel AmFELS Inc., the US wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered the first of four EXL rigs to Rowan Drilling Company, Inc. (Rowan) safely, on time and within budget. The rig, christened Rowan EXL I at the yard last Saturday, is expected to be deployed for work immediately after delivery to serve a 10-month contract with McMoRan Exploration Company in the US Gulf of Mexico. Keppel AmFELS is currently constructing three other similar newbuild jackup rigs for Rowan.

For the three months ended September 30, 2008, Rowan Companies, Inc. (NYSE: RDC) generated net income of $114.1m or $1.00 per share, compared to $130.8m or $1.16 per share in the third quarter of 2007 and $120.6m or $1.06 per share in the second quarter of 2008. Revenues were $527.1m in the third quarter of 2008, compared to $502.2m in the third quarter of 2007 and $587.1m in the second quarter of 2008. The third quarter 2008 results included $21.4m, or $0.12 per share, of gains on asset sales, compared to $1.1m, or less than $0.01 per share, in the third quarter of 2007 and $1.5m, or $0.01 per share, in the second quarter of 2008. Rowan's offshore rig utilization was 95% during the third quarter of 2008…

For the three months ended September 30, 2007, Rowan Companies, Inc. (NYSE:RDC) generated record net income of $130.8m, or $1.16 per share, compared to $87.0m, or 78 cents per share, in the third quarter of 2006 and $128.1m, or $1.14 per share, in the second quarter of 2007. Revenues were $502.2m in the third quarter of 2007, compared to $417.1m in the third quarter of 2006 and $507.0 million in the second quarter of 2007. The third quarter 2007 results included $1.1m, or 1 cent per share, of gains on asset sales, compared to $2.3m, or 2 cents per share, in the third quarter of 2006 and $14.6m, or 8 cents per share, in the second quarter of 2007.