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Rowan provides fleet contract status update


Published Sep 27, 2013
Rowan Companies-2

Rowan Companies plc announced that its monthly report of drilling rig status and contract information has been updated as of September 26, 2013.

Notable events in the current report include:

Gorilla III: Awarded a multi-well contract with a rig share group that includes EOG, Trinity Exploration, Repsol and Centrica estimated at one year commencing mid-October 2013 at $160,000 per day, above its previous day rate of $145,000. Rowan Louisiana: Awarded a one-well contract for EnVen estimated at 30 days commencing in October 2013 in the Gulf of Mexico at $95,000 per day (no change from previous day rate) and another one-well contract estimated at 45 days at $125,000 per day.

Gorilla VII:

Increased 3Q/4Q 2013 off-rate time by 21 days to 82 days for leg repairs that started in mid-July 2013. Operating costs will be expensed during this period. Third party repair costs will also be expensed and are expected to total $6 million in 3Q 2013 and $1 million in 4Q 2013.

Previously scheduled 140 days out of service time for repairs, upgrades and inspections is expected to occur sometime during 2015 instead of starting at the beginning of 2Q 2014. Rig is expected to be off-rate for 21 days for inspections during 3Q 2014.

Tags: Rowan Companies




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