Rowan Companies Company News

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Rowan Lays Off Another 50 Offshore Workers
Monday, June 26, 2017 Just weeks after announcing it was laying off 150 offshore workers, Rowan Cos. has said it will let another 50 workers go in August.

Rowan to Lay Off 150 Offshore Workers
Wednesday, May 31, 2017 Rowan Companies will reduce its workforce after a contract on one of its drilling rigs is terminated.

Rowan Idles Rig, Will Lay Off Up To 110 Workers
Monday, November 28, 2016 Rowan will lay off up to 110 workers after it loses a contract on one of its rigs offshore the Gulf of Mexico.

Rowan, Saudi Aramco Tie Up For Offshore Drilling In Saudi Arabia
Monday, November 21, 2016 Rowan Companies Plc says it and Saudi Aramco, Saudi Arabia's state oil company, have agreed to form an equally owned joint venture to operate offshore drilling rigs in the country.

Trade Group Oil & Gas UK Makes 4 Board Appointments
Tuesday, October 04, 2016 Trade association Oil & Gas UK appoints executives from Apache, Premier Oil, Repsol Sinopec and Rowan Companies to its board.

Moody's Downgrades Offshore Drillers, Including Ensco, Transocean
Tuesday, March 01, 2016 Offshore drilling contractors likely to struggle through at least 2018, Moody's Investors Service says in a new report.

New Rigs Help Rowan Beat Profit Estimates
Wednesday, August 05, 2015 Rig operator Rowan reports a higher-than-expected quarterly profit thanks to new ultra-deepwater rigs and lower prices.

Driller Rowan's Profit Beats On Deployment Of 3 New Rigs
Wednesday, May 06, 2015 Driller Rowan reports higher-than-expected quarterly profit and revenue, helped by the deployment of three new ultra-deepwater rigs.

Driller Rowan Writes Down Assets By $438.4M In 4Q
Friday, February 27, 2015 Rowan writes down the value of 12 of its oldest jackups by $438.4M, joining rival Transocean Ltd in recording big asset impairment charges.

Saudi Aramco Extends Contracts with Rowan for 3 Jackups to Work in ME
Friday, April 25, 2014 Saudi Aramco extends contracts with Rowan for three jackups operating in the Persian Gulf for another year and at a higher day rate.

PSA Cites Rowan, Statoil for Violations
Wednesday, December 18, 2013 Norway's Petroleum Safety Authority issues orders for Rowan and Statoil following audits of their offshore rigs offshore Norway.

Rowan Profit Jumps as Offshore Rig Rates Rise
Tuesday, August 06, 2013 Rowan Companies reports a 63 percent jump in quarterly profit as the rates paid for its rigs improved.

Relief Well Planned to Help Plug Ruptured Gas Well in US Gulf
Tuesday, July 30, 2013 Crews expect to start drilling a relief well to help permanently plug a ruptured shallow-water natural gas well off the coast of Louisiana in the Gulf of Mexico, a US regulator says.

Rowan Inks Contract for Second Newbuild Ultra-Deepwater Rig
Thursday, June 20, 2013 Anadarko Petroleum awards contract for Rowan's ultra-deepwater drillship Rowan Resolute, which is under construction in South Korea.

Xcite Energy Cancels Rowan Rig
Friday, May 31, 2013 Xcite Energy is in discussions with alternative rig suppliers for the Bentley field development program after canceling a rig with Rowan Companies Inc.

Rowan Names New President
Friday, March 08, 2013 Rowan announces that Thomas P. Burke has been promoted to President.

Rowan to Add Fourth Ultra-Deepwater Drillship to Fleet
Monday, September 10, 2012 Rowan Companies plc will add a fourth ultra-deepwater drillship to its fleet to meet growing customer demand for ultra-deepwater rigs.

Rowan Welcomes New Executive VP
Tuesday, July 31, 2012 Rowan announces that J. Kevin Bartol has been appointed to serve as the Company's Executive Vice President, Finance and Corporate Development.

MTNW Completes Winch Retrofit on 2 Rowan Jackups
Tuesday, March 13, 2012 Measurement Technology NW completes installation and commissioning of winch control systems for 2 Rowan jackup rigs.

Rowan Plans to Change Domicile to UK
Tuesday, February 28, 2012 Rowan plans to relocate its domicile to the U.K. from the U.S. and change its name to Rowan Cos. PLC, according to a filing with the Securities and Exchange Commission.

Xcite Energy Negotiates Rig Amendment with Rowan
Friday, February 03, 2012 Xcite has negotiated an amendment to its rig contract with British American Offshore Limited, a subsidiary of Rowan Companies Inc.

Rowan Christens New Jackup Joe Douglas
Tuesday, December 20, 2011 Rowan Companies proudly show off its new jackup rig, the Joe Douglas, during a christening ceremony at its Sabine Pass, Texas, dock.

Rowan Orders 3rd Ultra-Deepwater Drillship with Hyundai Heavy
Tuesday, November 01, 2011 Rowan has exercised its option to build a third GustoMSC P10000 design ultra-deepwater drillship with Hyundai Heavy for approx. $600MM.

Rowan: Rig Moves Negatively Impact 3Q Earnings
Tuesday, November 01, 2011 "Our financial performance during the third quarter was negatively impacted by the effects of rig moves and upgrades as we prepared for several new contracts," said Matt Ralls.

Rowan Gets Go-Ahead for Share Repurchase Program
Monday, August 08, 2011 Rowan's board of directors has authorized the Company to repurchase up to $100 million in shares of its common stock.

Rowan 2Q Earnings Jump on LeTourneau Sale
Tuesday, August 02, 2011 Income from discontinued manufacturing and land drilling operations totaled $421.5MM in the 2Q of 2011 or $3.30 per share, including the after-tax gain on the sale of LeTourneau of $424.5MM.

Rowan Names New COO, Senior VP
Monday, August 01, 2011 Rowan announced that Thomas P. Burke has been appointed to serve as the Company's Chief Operating Officer, and Melanie M. Trent has been appointed to serve as Senior Vice President, Chief Administrative Officer and Corporate Secretary.

Rowan Parts with Land Drilling Division
Wednesday, July 20, 2011 Rowan has entered into a purchase and sale agreement with Ensign to sell Rowan's land drilling division for $510 million in cash.

Xcite: Keppel Delivers Jackup to Rowan
Wednesday, July 13, 2011 Xcite announced that the Rowan Norway rig, scheduled for use on the Bentley field, has now been delivered by the Keppel FELS shipyard in Singapore to Rowan Companies.

Hyundai Heavy Secures $1.12B Drillship Order for Rowan
Wednesday, June 01, 2011 Hyundai Heavy has clinched a $1.12B order to build two drillships for drilling contractor Rowan Companies.

Rowan Redirects Focus on Offshore Drilling with $1.1B Sale of LeTourneau
Monday, May 16, 2011 Rowan has entered into a share purchase agreement with Joy Global to sell all shares of common stock in LeTourneau Technologies for $1.1B in cash.

Rowan Reports 'Solid' 4Q Results
Friday, February 25, 2011 "Our contract drilling operations provided solid results in the fourth quarter, exceeding consensus expectations primarily due to continued success in managing our costs," Matt Ralls commented.

Xcite Enters LOI Extension for Rowan Jackup
Tuesday, February 01, 2011 Xcite has entered into an extension to the binding letter of intent for the N-Class Rowan Norway jackup rig.

Xcite Extends LOI for Rowan Norway
Friday, January 14, 2011 Xcite has entered into an extension to the binding LOI with BAOL for the N-Class Rowan Norway jack-up rig.

Rowan Posts Lower 3Q Profit
Tuesday, November 02, 2010 Rowan generated a net income of $67.2 million, gaining from drilling operations and offset by a decrease in offshore average day rates.

Rowan Prices Public Offering
Thursday, August 19, 2010 Rowan has priced a public offering of $400 million of its 5.000% senior notes due 2017, in a registered public offering.

Rowan Finalizes Skeie Drilling Transaction
Monday, July 19, 2010 Rowan to purchase all of the ordinary shares in Skeie. Rowan has approved the transaction, all other conditions precedent have been met and the transaction will proceed.

Rowan to Buy Three KFELS N-Class Jackups for $1.2B
Thursday, July 01, 2010 Rowan Companies and Skeie Drilling have entered a deal whereby Rowan will purchase three jackups being built by Skeie for US $1.2 billion.

Apache Declares Force Majeure on Rowan Rig
Friday, June 25, 2010 Rowan Cos. received notice that Apache had declared force majeure on Rowan jackup due to delays in obtaining new drilling permits.

Rowan Reports Strong 1Q
Tuesday, May 04, 2010 "Rowan's drilling operations experienced a strong first quarter, with good cost control and excellent uptime for our jack-up rigs under contract," said Matt Ralls.

Rowan Sees Strong Recovery in U.S. Land Rig Market
Monday, March 01, 2010 For the three months ended December 31, 2009, Rowan generated net income of $60.8 million or $0.53 per share, compared to $94.3 million or $0.83 per share in the fourth quarter of 2008.

AGR Lends a Hand to McMoRan in GOM Campaign
Tuesday, February 16, 2010 AGR FJ Brown is providing engineering consultation and drilling management support to McMoRan during a major exploration campaign in the Gulf of Mexico.

McMoRan Logs Additional Pay at Davy Jones
Wednesday, January 20, 2010 McMoRan has logged 65 net feet of additional pay at its Davy Jones ultra-deep well in the Gulf of Mexico.

McMoRan Posts 4Q Production; Touts GOM Activity
Tuesday, January 19, 2010 Fourth-quarter 2009 production averaged 209 MMcfe/d net to McMoRan, compared with 162 MMcfe/d in the fourth quarter of 2008.

C. K. Cooper & Co Initiates Coverage of Rowan Companies
Wednesday, January 13, 2010 C. K. Cooper & Company, an independent, full-service investment bank, headquartered in Irvine, Calif. announced today that it has initiated coverage of Rowan Companies, Inc.

Analysis: Jackups are Backbone of Red Sea Drilling
Friday, December 11, 2009 The Rigzone team takes a deep dive into the Red Sea jackup market, analyzing the fleet and the market trends in the region.

BG Gets Green Light to Drill with Rowan Gorilla VI in Southern North Sea
Friday, November 27, 2009 BG Norge AS has received consent to conduct exploration drilling in the southern North Sea using the Rowan Gorilla VI jackup drilling rig.

PSA Norway Grants AoC for Rowan's Gorilla VI
Wednesday, November 25, 2009 The Rowan Gorilla VI jackup received an Acknowledgement of Compliance from the Petroleum Safety Authority of Norway, enabling the rig to commence operations in the Norwegian Sector of the North Sea.

HB Rentals Builds Highest-Spec Drillers' Cabin for Rowan Gorilla VI
Monday, November 23, 2009 Global modular accommodation specialist HB Rentals has invested in building six of the world's highest-standard modules for the offshore industry -- and has already delivered the first of these to Weatherford on a year-long contract.

EnCana Selects Expro for Subsea Services at Deep Panuke
Friday, November 20, 2009 Expro will complete surface testing and subsea landing string services offshore Nova Scotia at EnCana's Deep Panuke field.