Two Contracts for Rowan Gorilla IV Rig

Rowan Companies plc, a U.S.-based drilling contractor specialising in high-specification jack-up rigs, today announced it has secured more work for its Gorilla IV rig in the U.S. Gulf of Mexico.

In its fleet contract status update the company revealed that Walter Oil & Gas has awarded a six month contract extension for the rig on a day rate of approximately $180.000, an increase from the current $160.000. The contract is expected to begin in October 2013.

Additionally, the drilling contractor added that the rig will, once it completes its contract with the current client, in April 2014, start working for ExxonMobil. The 45 day contract will have a day rate of approximately $200.000.

Rowan Gorilla IV jack-up rig, built in 1986 is capable of operating in water depths of 450 feet, and it has a maximum drilling depth of 35,000 feet.

Further in its report, Rowan has revealed that its Gorilla VI rig is expected to enter the shipyard in mid June 2013 for 150 days for repairs, upgrades and inspections.