Rowan Secures Contract for ‘Rowan Resolute’ Drillship. Sells ‘Rowan Paris’ Rig

The U.S. based drilling contractor Rowan Companies has entered into a three-year contract with Anadarko Petroleum Corporation.

The drillship is expected to be delivered at the end of the second quarter 2014 and operate in the U.S. Gulf of Mexico starting in the late third quarter 2014.  The Rowan Resolute is one of four ultra-deepwater drillships being constructed for Rowan by Hyundai Heavy Industries Co. Ltd. (“HHI”) shipyard in Ulsan, South Korea.

With the award of this contract for the Rowan Resolute, two of the Company’s four ultra-deepwater drillships under construction at HHI are now under contract.  The remaining two uncontracted drillships are scheduled to be delivered from the shipyard at the end of October 2014 and March 2015.

Rowan, in its fleet status report, said that the day rate for the contract is in the high $600.000s.

Rig contract in Indonesia

Also, the company has informed it has secured a 170 day contract with Pertamina Hulu Energi for Gorilla II rig in Indonesia at a day rate in the high $160s (above previous day rate in the mid $130s) expected to commence operation in September 2013.

Further in the report for June 2013, Rowan said it has sold the Rowan Paris rig for $40 million in June 2013.

[mappress]