HOUSTON, Sept. 24, 2018 /PRNewswire/ -- Rowan Companies
plc ("Rowan" or the "Company") (NYSE: RDC) announced today that the
Rowan Norway, an N-Class
ultra-harsh environment jack-up rig, has been awarded a two-well
contract in the Mediterranean Sea by Turkish Petroleum with an
estimated duration 100-140 days. The contract is expected to
commence in late 2018. The Rowan Norway is currently warm-stacked in the
United Kingdom sector of the North
Sea.
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, 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 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 and duration 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