Rowan Inks Deal with Devon for Gorilla II Jackup
Rowan has signed a contract with Devon Energy Corporation for the Gorilla class jackup, Gorilla II, in the Gulf of Mexico.
The two-year commitment should begin in January 2009 and is expected to provide approximately $137 million of drilling revenues. The rig will be performing drilling services as well as assisting Devon with various construction projects.
Danny McNease, Rowan Chairman and Chief Executive Officer, commented, "On the heels of the record jackup day rate recently awarded to our first 240C class rig, the Rowan-Mississippi, the historically well-to-well Gulf of Mexico market has provided Rowan with a second two-year commitment in a matter of weeks. We believe that this market will continue to recognize and reward contractors with premium equipment and experienced drilling personnel, and we look forward to additional opportunities."
Manages 22 Offshore Rigs
- Rowan Lays Off Another 50 Offshore Workers (Jun 26)
- Rowan to Lay Off 150 Offshore Workers (May 31)
- Rowan Idles Rig, Will Lay Off Up To 110 Workers (Nov 28)
Company: Devon Energy more info
- Shale Drillers Show Few Signs of Slowing as Profits Expand (Aug 02)
- Devon Energy Trims Full-Year Spending (Aug 01)
- Devon Energy Plans To Divest $1B Assets; Profit Beats (May 02)