Rowan to Optimize Active Drillship Fleet by Concentrating Work to the Rowan Resolute
HOUSTON, Nov. 21, 2018 /PRNewswire/ -- Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) announced today that the previously disclosed contract with Fieldwood Energy LLC (Fieldwood) for the Rowan Reliance will be transferred to the Rowan Resolute under the same contractual terms, which includes a one-year, firm term plus three 90-day options. The Company also announced that LLOG has elected to exercise its final option on the Rowan Resolute, which is expected to keep the rig with LLOG until February 2019. The Rowan Resolute is expected to commence operations for Fieldwood after a short contract preparation period immediately following the LLOG program. The Rowan Reliance will remain warm-stacked offshore Louisiana in the US Gulf of Mexico.
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
