Rowan Stavanger Awarded Contract by Equinor
HOUSTON, Oct. 22, 2018 /PRNewswire/ -- Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) announced today that the Rowan Stavanger, an N-Class ultra-harsh environment jack-up rig, has been awarded a contract in Norway by Equinor with a firm term of approximately five months plus options. The contract is expected to commence the third quarter of 2019. The Rowan Stavanger is currently on the Yme field for accommodations and platform support services for Repsol in Norway. In addition, Equinor and Rowan have also executed a Master Framework Agreement which facilitates future contracts.
Rowan is a global provider of contract drilling services with a fleet of 25 mobile offshore drilling units, composed of 21 self-elevating jack-up rigs and four ultra-deepwater drillships. The Company's fleet operates worldwide, including the United States Gulf of Mexico, the United Kingdom and Norwegian sectors of the North Sea, the Middle East, the Mediterranean Sea, and Trinidad. Additionally, the Company is a 50/50 partner in a joint venture with Saudi Aramco, entitled ARO Drilling, that owns a fleet of seven self-elevating jack-up rigs that operate in the Arabian Gulf. The Company's Class A Ordinary Shares are traded on the New York Stock Exchange under the symbol "RDC." For more information on the Company, please visit www.rowan.com.
CONTACT: Investor Relations; investorrelations@rowan.com; +1 713 621 7800
