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Rowan Companies Inc News

21 Mar 2018

Darling, Parker join Tidewater

Tidewater has strengthened its management team with the appointments of David Darling as VP and Chief Human Resources Officer and Mark Parker as Vice President, Corporate Taxation. Darling joins Tidewater with over 24 years of domestic and international human resources experience, most recently as Senior Vice President and Chief Human Resources Officer for Gulfmark Offshore, Inc., where he was the Human Resource Director since 2007. Prior to Gulfmark, he served in executive human resources roles with Rigdon Marine and a subsidiary of Ford Motor Company. Darling has additional offshore vessel industry experience as a Vessel Master and Operations Manager.

22 Apr 2016

14 Appointed to NOIA Board

The National Ocean Industries Association (NOIA) elected 14 industry leaders to its Board of Directors on April 21, 2016 during its Annual Meeting in Washington, DC. Gary Luquette, President and Chief Executive Officer, Franks International, N.V. Kirk Meche, President and Chief Executive Officer, Gulf Island Fabrication, Inc. Richard Morrison, Regional President Gulf of Mexico, BP America, Inc. W. Matt Ralls, Executive Chairman, Rowan Companies, Inc. Jeff Platt, President and Chief Executive Officer, Tidewater, Inc.

20 Aug 2012

Nautronix to Supply Rowan’s Third New Ultra-Deepwater Drillship

Nautronix has been awarded another contract to supply NASDrill RS925 deepwater acoustic positioning system, for Rowan’s third new ultra-deepwater drillship. The vessel will be constructed at Hyundai Heavy Industries shipyard in Ulsan, Korea and will be based on a Hyundai Gusto P1000 design. The vessel will be completed in the fourth quarter of 2014. Nautronix received this order through a well known Norwegian DP Supplier who is supplying their Dynamic Positioning (DP) System on the vessel. This is the third order that Nautronix have received for the Rowan fleet; for their NASDrill RS925 system, following on from vessels one and two.

24 May 2012

Nautronix Wins DP Contract from Rowan

Nautronix will supply their NASDrill RS925 Positioning System to Rowan’s new Ultra-Deepwater Drillships. Nautronix have been awarded a contract to supply NASDrill RS925 deepwater acoustic positioning system for Rowan’s new ultra-deepwater drillships. The vessels will be constructed at Hyundai Heavy Industries shipyard in Ulsan, Korea and are based on a Hyundai Gusto P1000 design. The first vessel will be completed in the fourth quarter of 2013, with the second one estimated to be completed in 2014. Nautronix received orders for their NASDrill RS925 systems through a well known Norwegian DP Supplier who will supply their Dynamic Positioning (DP) System for these vessels.

27 Apr 2012

ABS Elects New Council

At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.

11 Sep 2011

Keppel AmFELS Delivers Rowan Rig Ahead of Schedule

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has completed the delivery of its fourth EXL jack-up rig to a subsidiary of Rowan Companies, Inc. (Rowan) (NYSE: RDC) with a perfect safety record, four months ahead of schedule and within budget. The jack-up rig was christened Rowan EXL-IV yesterday by Ms. Mary J. Dunaway and Ms. Audra M. Williamson, daughters of Mr. Johnnie Huckabay, one of Rowan's senior rig managers. The rig was delivered on September 1, 2011 and is scheduled to depart Keppel AmFELS' yard in Brownsville, Texas in October 2011. Mr Matt Ralls, President and CEO of Rowan, said, "This latest EXL jack-up rig is a key addition to our fleet of high-specification rigs and will enable us to further grow our offshore drilling business.

08 Aug 2011

Rowan Authorized to Repurchase Common Stock

Rowan Companies, Inc's board of directors has authorized the company to repurchase up to $100 million in shares of its common stock. Repurchases under this program, effective immediately, will be made through the open market or in privately negotiated transactions. These repurchases may be commenced or suspended from time to time without prior notice. Rowan Companies, Inc. is a major provider of international and domestic contract drilling services with a leading position in high-specification jack-up rigs. The Company's fleet of 29 jack-up rigs is located worldwide, including the Middle East, the North Sea, Trinidad, and the Gulf of Mexico.

01 Aug 2011

Rowan Elects Two New Executive Officers

Rowan Companies, Inc. (NYSE: RDC) announced that Thomas P. Burke has been appointed to serve as the Company's Chief Operating Officer, and Melanie M. Trent has been appointed to serve as Senior Vice President, Chief Administrative Officer and Corporate Secretary. Burke, who joined the Company in December 2009, previously served as the President and Chief Executive Officer of the Company's manufacturing subsidiary, LeTourneau Technologies, Inc., which was sold to Joy Global in June 2011. Prior to such time, he was employed by Complete Production Services, an oilfield services company, as a Division President from 2006 to 2009, and as Vice President Corporate Development from 2004 to 2006. Before joining Complete Production, Mr.

02 Jun 2011

Rowan Contracts to Build Two Drillships

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.

24 Jan 2011

Keppel Delivers Second KFELS N-Class Jack-up to Rowan

Keppel FELS Limited (Keppel FELS) has delivered the KFELS N-Class jack-up rig, the Rowan Stavanger, to Rowan Companies, Inc. (Rowan) (NYSE: RDC) safely, on time and within budget. The second of three KFELS N-Class rigs being built for Rowan, this high-specification jack-up design is a product of Keppel's rich experience in constructing rigs for the North Sea region since 1985. The rig was named the Rowan Stavanger at Keppel FELS by Lady Sponsor, Mrs. Amy Ralls, spouse of Mr. Matt Ralls, President and Chief Executive Officer of Rowan. Rowan President and CEO Matt Ralls, said, "Our acquisition of Skeie Drilling and Production and three…

27 Dec 2010

Keppel AmFELS Delivers Third Rowan Rig

Keppel AmFELS Inc., a wholly-owned US subsidiary of Keppel Offshore & Marine Ltd, has delivered the third of four EXL jackup rigs to a subsidiary of Rowan Companies, Inc. ahead of schedule and within budget. The jackup was christened Rowan EXL-III yesterday by Barbara Ladner, spouse of Laron Ladner, Operations Construction Manager and employee of 41 years for Rowan. The rig is scheduled to depart Keppel AmFELS' yard in Brownsville, Texas in January 2011 to commence operations on an ultra deep gas well for McMoRan Exploration Company in the Gulf of Mexico. David Russell, Rowan's Executive Vice President of Drilling Operations, said, "High-end jackups will have a key role in the future of offshore drilling. Demand for such units is strong.

23 Dec 2010

Keppel AmFELS Delivers Third Rowan Rig

Keppel AmFELS Inc., a wholly-owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the third of four EXL jackup rigs to a subsidiary of Rowan Companies, Inc. (Rowan) ahead of schedule and within budget. The jackup was christened Rowan EXL-III yesterday by Mrs Barbara Ladner, spouse of Mr Laron Ladner, Operations Construction Manager and employee of 41 years for Rowan. The rig is scheduled to depart Keppel AmFELS' yard in Brownsville, Texas in January 2011 to commence operations on an ultra deep gas well for McMoRan Exploration Company in the Gulf of Mexico. Mr David Russell, Rowan's Executive Vice President of Drilling Operations, said, "High-end jackups will have a key role in the future of offshore drilling. Demand for such units is strong.

25 Oct 2010

Keppel Delivers Dual-Capability Jack-Up to Rowan

Keppel FELS Limited (Keppel FELS) has delivered the first of three KFELS N-Class jack-up rigs being built for Rowan Companies, Inc. (Rowan) (NYSE: RDC) safely, on time and within budget. Built to the proprietary KFELS N-Class design, this new-generation rig is the largest jack-up to be constructed in Singapore. This rig design is the brainchild of Keppel's R&D arm, Offshore Technology Development (OTD), following Keppel's extensive experience in constructing rigs for the North Sea region since 1985. The North Sea region is one of the world's toughest operating environments for offshore exploration and production. At 568 ft (extendable to 598 ft)…

02 Jun 2009

LeTourneau, PetroVietnam Jack-up Contract

Rowan Companies, Inc. (NYSE: RDC) announced that its wholly-owned subsidiary, LeTourneau Technologies, Inc. (LTI) has entered into a contract to provide the rig kit, license and certain technical consultancy assistance to Vietnam's PetroVietnam Marine Shipyard J/S Company (PetroVietnam Shipyard) for the construction of a newbuild LeTourneau Super 116E jack-up rig with 377 ft of leg. PetroVietnam Shipyard will construct the Super 116E jack-up for Vietnam Oil & Gas Group (PetroVietnam) in Vung Tau City, S. R. Vietnam. LTI's contract with PetroVietnam Shipyard, valued at approximately $40m, provides key rig kit equipment, designed and fabricated by LTI, including the leg components, elevating system, controls, spud can materials, cantilever skidding system and hold-down structures.

31 Mar 2009

LeTourneau Tech Signs $185m Construction

Rowan Companies, Inc. (NYSE: RDC) announced today that its manufacturing subsidiary, LeTourneau Technologies, Inc. (LTI) has signed contracts valued at approximately $185m with a Brazilian construction consortium to provide the rig kit, rig design and drilling equipment for two LeTourneau Super 116E jack-up rigs. The two Super 116E jack-up rigs are to be built at Petrobras' Maragojipe, Bahia, Brazil facility by the Consorcio Rio Paraguacu. The rig kits will be substantially delivered in 2009 while most of the drilling equipment will be provided in 2010. The Super 116E Class is one of five current LTI jack-up rig designs, and is an evolution of LTI's industry workhorse 116-C Class design. The Super 116E provides for up to 2,000 kip greater payload than its predecessor.

12 Dec 2008

Rowan - Ralls CEO, Lentz COB

Rowan Companies, Inc. (NYSE: RDC) announced that, effective January 1, 2009, its Board of Directors has named W. Matt Ralls as the company's new President, Chief Executive Officer and member of the Board of Directors, succeeding D.F. McNease, who announced his retirement in late October 2008. Mr. Ralls, 59, most recently served as Executive Vice President and Chief Operating Officer of GlobalSantaFe Corporation, an international contract drilling company, from June 2005 until the completion of the merger of GlobalSantaFe with Transocean, Inc. in November 2007. Prior to that time Mr. Ralls served as Senior Vice President and CFO of GlobalSantaFe. He joined Global Marine, Inc.

05 Nov 2008

Rowan 3Q Operating Results

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…

15 Oct 2008

Rowan Obtains Contract for Jack-up Gorilla II

The two-year commitment is planned to begin in January 2009 and expected to provide approximately $137 million in drilling revenues. The rig will be performing drilling services as well as assisting with various construction projects. Rowan Companies Inc. provides international and domestic contract drilling services and owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries.

07 Oct 2008

Rowan Obtains $30m Commitment for Gorilla IV

Rowan Companies, Inc. has received a letter of intent from W&T Offshore, Inc. for the jack-up Gorilla IV. The commitment is for two wells covering a minimum term of 150 days, which will begin when the rig is released from its current drilling assignment. Rowan expects to earn approximately $30m of drilling revenues over the minimum term. The Gorilla IV is currently drilling for McMoRan on the Blackbeard Prospect. The Company estimates that the rig will be available for W&T by early in the first quarter of 2009.

28 Mar 2008

Jack-up Rig Gorilla VII Loaded in Rotterdam

The Rowan Gorilla VII Jack-up rig that was built by the Marathon LeTourneau Super Gorilla was loaded in the , The Netherlands, on board Mighty Servant 1. The operation started at 7.00 A.M. and the Rowan Gorilla VII was in position and lifted out of the water. The Mighty Servant 1 will depart for . After its voyage the Gorilla VII Jack-up rig will be discharged in . The Jack-up rig is operated by Rowan Companies Inc. The Rowan Gorilla VII is both a very large and heavy cargo: its overall length is 121.43 meters.

07 Mar 2008

Failure to report oil discharges and the False Claims Act

The US Court of Appeals for the Fifth Circuit ruled that an assertion by an employee that the employer failed to report illegal discharges of oil does not establish a right of action under the False Claims Act. In the instant case, plaintiff employee alleged that defendant employer, which operated offshore drilling units in the Gulf of Mexico under leases from the federal government, illegally dumped oil and other waste into waters of the Gulf and failed to report those discharges in its oil record book. The federal government declined to prosecute defendant for the alleged violations. Plaintiff filed an action against defendant under the False Claims Act, which allows a prevailing claimant to recover a portion of the false claim.

30 Jan 2008

MarAd Approves the Sale of Vessels

The Maritime Administration (MarAd) has approved the sale and transfer of five vessels under section 9 of the Shipping Act, of 1916, as amended. On December 12 2007, MarAd approved an application filed by Rowan Companies, Inc., of Houston, TX. for the transfer of the mobile offshore drilling unit Hank Boswell (Official No. 1183234), to Marshall Islands registry and flag. On December 27, 2007, MarAd approved an application filed by Mobro Marine, Inc., of Green Cove Springs, FL, for sale of the freight barge MB 5500 Official No. 1080955, and the transfer of said vessel to Construction Norberto Odebrecht, S.A. a Venezuelan corporation, and transfer of said vessel to Venezuelan registry and flag.

09 Jan 2008

Rowan Announces New Drilling Commitments

Rowan Companies, Inc. announced that it has signed a drilling contract for one of its Gorilla class rigs for approximately six months of work offshore eastern Canada that should begin in mid 2009.The company has committed either the Rowan Gorilla II or Rowan Gorilla III to this assignment, depending on first availability, and expects total revenues, including mobilization and modification fees, of approximately $56m. A six-month commitment for CNR expected to commence by the third quarter of 2009 and generate $55 million of drilling revenues. A subsequent six-month extension for BG expected to occur in 2010 and generate $55m of drilling revenues. Rowan Companies, Inc. is a major provider of international and domestic contract drilling services.