Scandoil  

Rowan provides fleet contract status update


Published Dec 24, 2013
Rowan Companies-2

Rowan Companies plc announced that its monthly report of drilling rig status and contract information has been updated as of December 19, 2013.

Notable events in the current report include:

◾EXL II: Awarded a three-year commitment with undisclosed customer in Trinidad commencing in March 2014 at $179,500 per day, above its previous day rate at $137,000. ◾Rowan Renaissance: Rig is expected to commence a three-year term offshore West Africa with the current customer mid April 2014 instead of late March 2014 as previously indicated due to certain equipment delivery delays. ◾Gorilla VII: Increased 4Q 2013 off rate time by 35 days to 92 days.The rig had been undergoing leg repairs which were substantially completed several weeks ago. Unfortunately, inclement weather in the North Sea since then has delayed the rig being able to go on location. Current expectations are that the rig will return to service at the beginning of January 2014. Operating costs will be expensed during this period. Incremental third party repair costs will also be expensed and are expected to total approximately $2.5 million in 4Q 2013, no change from prior guidance. ◾Hank Boswell: Previously scheduled 92 days out of service project for customer-required equipment upgrades is expected to occur sometime during 2015 instead of commencing in 3Q 2014. ◾Bob Keller: Previously scheduled 60 days out of service project for customer-required equipment upgrades is expected to occur sometime during 2015 instead of commencing in 4Q 2014. ◾Scooter Yeargain: Previously scheduled 75 days out of service project for customer-required equipment upgrades is expected to occur sometime during 2015 instead of commencing in 2Q 2014.

Tags: Rowan Companies




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