$45M Oil Well Contract for Trinidad

Rowan Companies announced a $45m contract to drill four offshore oil wells in Trinidad and Tobago. The Rowan Gorilla III will soon relocate to Trinidad to begin a one-year term contract. The new contract is with another operator and should extend the rig's stay in the area by about six months to March 2008. The company expects the new contract will generate approximately $45m of drilling revenues. (Source: Caribbean360.com)