HOUSTON, Aug. 13, 2018 /PRNewswire/ -- Rowan Companies plc
("Rowan" or the "Company") (NYSE: RDC) announced that the Rowan EXL
III, an EXL Class high specification jack-up rig, has been awarded
a six-month contract from Cantium in the U.S. Gulf of Mexico. The contract is expected to
commence in early November 2018. The EXL III is currently
under contract with Cantium in the U.S. Gulf of Mexico through mid to late
August 2018.
Rowan is a global provider of contract drilling services with a
fleet of 27 mobile offshore drilling units, composed of 23
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, 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 five 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.
Statements herein that are not historical facts are forward
looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, without limitation,
statements as to the effective commencement date of the contract.
These forward-looking statements are based on our current
expectations and are subject to numerous risks, assumptions, trends
and uncertainties that could cause actual results to differ
materially from those indicated by the forward-looking statements.
Among the factors that could cause actual results to differ
materially include oil and natural gas prices and the impact of the
economic climate; changes in the offshore drilling market,
including fluctuations in supply and demand; variable levels of
drilling activity and expenditures in the energy industry; changes
in day rates; ability to secure future drilling contracts;
cancellation, early termination or renegotiation by our customers
of drilling contracts; customer credit and risk of customer
bankruptcy; risks associated with fixed cost drilling operations;
unplanned downtime; risks related to our joint venture with Saudi
Aramco, including the timing and amount of future distributions
from the joint venture or contributions to the joint venture; cost
overruns or delays in transportation of drilling units; cost
overruns or delays in maintenance, repairs, or other rig projects;
operating hazards and equipment failure; risks of collision and
damage; casualty losses and limitations on insurance coverage;
weather conditions in the Company's operating areas; increasing
costs of compliance with regulations; changes in tax laws and
interpretations by taxing authorities; hostilities, terrorism, and
piracy; impairments; cyber incidents; the outcomes of disputes,
including tax disputes and legal proceedings; and other risks
disclosed in the Company's filings with the U.S. Securities and
Exchange Commission. Each forward-looking statement speaks only as
of the date hereof, and the Company expressly disclaims any
obligation to update or revise any forward-looking statements,
except as required by law.
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SOURCE Rowan Companies plc