Rowan Obtains Two-Year Gulf of Mexico Contract for Jack-up Gorilla II
Rowan Companies, Inc. announced that it has signed a contract with Devon Energy Corporation for the Gorilla class jack-up, Gorilla II, in the Gulf of Mexico.
The two-year commitment should begin in January 2009 and is expected to provide approximately $137 million of drilling revenues. The rig will be performing drilling services as well as assisting Devon with various construction projects.
Danny McNease, Rowan Chairman and Chief Executive Officer, commented, “On the heels of the record jack-up day rate recently awarded to our first 240C class rig, the Rowan-Mississippi, the historically well-to-well Gulf of Mexico market has provided Rowan with a second two-year commitment in a matter of weeks. We believe that this market will continue to recognize and reward contractors with premium equipment and experienced drilling personnel, and we look forward to additional opportunities.”
Rowan Companies, Inc. is a major provider of international and domestic contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries. The Company’s stock is traded on the New York Stock Exchange. Common Stock trading symbol: RDC.
