Rowan Companies Company News

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Rowan Jack-up Heading to Guyana
Thursday, March 14, 2019Repsol plans to spud its first exploration well in the offshore Kanuku block this year.

Ensco and Rowan Merger Given Final Approval
Thursday, February 21, 2019More than four months after originally announcing their plans to merge, offshore drilling contractors Ensco plc and Rowan Companies plc Rowan Companies plc have been given the final green light.

ExxonMobil Extends Rowan Drillship Contract
Thursday, February 14, 2019The supermajor has contracted the ultra-deepwater drillship since September 2018.

Ensco and Rowan Amend Merger Agreement
Tuesday, January 29, 2019The two offshore drillers have amended their agreement to include increased acquisitions.

Ensco and Rowan Extend Time to Decide on Merger
Friday, January 18, 2019The two companies have convened and adjourned its general meeting in which they were scheduled to approve resolutions on their merger.

ConocoPhillips Contracts Rowan Jackup
Thursday, January 10, 2019The ultra-harsh environment jackup rig boasts a maximum drilling depth of 35,000 feet.

Shell Extends Jackup Contract in Trinidad
Wednesday, January 02, 2019Shell has extended its contract for the Rowan Gorilla VI jackup in Trinidad.

GOM Drillship Contract Goes to Rowan
Tuesday, October 30, 2018Fieldwood Energy LLC has awarded a GOM contract to Rowan for the R-Class ultra-deepwater drillship Rowan Reliance.

Ensco and Rowan to Merge in $12B Deal
Monday, October 08, 2018The companies have entered into a definitive transaction agreement to create an offshore drilling powerhouse.

Rowan Lays Off Another 50 Offshore Workers
Monday, June 26, 2017Just 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, 2017Rowan 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, 2016Rowan 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, 2016Rowan 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, 2016Trade 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, 2016Offshore 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, 2015Rig 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, 2015Driller 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, 2015Rowan 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, 2014Saudi 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, 2013Norway'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, 2013Rowan 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, 2013Crews 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, 2013Anadarko 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, 2013Xcite 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, 2013Rowan announces that Thomas P. Burke has been promoted to President.

Rowan to Add Fourth Ultra-Deepwater Drillship to Fleet
Monday, September 10, 2012Rowan 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, 2012Rowan 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, 2012Measurement 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, 2012Rowan 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, 2012Xcite 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, 2011Rowan 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, 2011Rowan 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, 2011Rowan'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, 2011Income 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, 2011Rowan 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, 2011Rowan 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, 2011Xcite 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, 2011Hyundai 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, 2011Rowan 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, 2011Xcite 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, 2011Xcite 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, 2010Rowan 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, 2010Rowan 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, 2010Rowan 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, 2010Rowan 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, 2010Rowan 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, 2010For 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.