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Monday, September 26, 2016

Rowan Provides Contract Status of Offshore Rigs

September 24, 2002

Rowan Companies, Inc. announced that the current contract status of its offshore drilling fleet. In the Gulf of Mexico: Gorillas II, III, IV and VI are each operating under well-to-well contracts. Eastern Canada - Gorilla V completed a one-well contract on September 18 and is now in Halifax Harbor. Though the outlook for 2003 is favorable, the near-term outlook for additional work offshore eastern Canada is uncertain. North Sea - Gorilla VII completed a contract as an accommodation unit on September 12 and is currently under contract for a short-term construction program in the Norwegian Sector. With several bids in process, the near-term outlook for additional work in the North Sea, while uncertain, is, for the moment, more promising than eastern Canada. Other Rigs: The company's remaining 18 rigs in the Gulf of Mexico are under well-to-well contracts.


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