Rowan Provides Fleet Status Update (USA)

Rowan Companies plc announced that its monthly report of drilling rig status and contract information has been updated as of July 18, 2013.

Notable events in the report include:

– Gorilla V: Awarded two year extension with Total in the UK sector of the North Sea commencing late June 2013 at $274,000 per day (above previous day rate of $205,000).

– EXL III: Awarded a one well contract estimated at 60 days with McMoRan in the Gulf of Mexico at $160,000 per day (no change from previous day rate).

– Hank Boswell: Previously scheduled 92 days out of service project for customer-required equipment upgrades is planned to start in July 2014 instead of October 2013.

– Bob Keller: Rig is expected to be off rate for 30 days in November 2013 for inspections.

Previously scheduled out of service project for customer-required equipment upgrades is estimated for 60 days (previously 75 days) and is planned to start in the second half of 2014 instead of October 2013.

– Scooter Yeargain: Previously scheduled 75 days out of service project for customer-required equipment upgrades is planned to start in April 2014 instead of October 2013.

– Gorilla VII: Added 21 days off rate time in 3Q 2013 starting in mid-July 2013 for leg repairs.

Previously scheduled 140 days out of service project for repairs, upgrades and inspections is planned to start the beginning of 1Q 2014 instead of mid-December 2013.

The Company will not realize any day rate revenue during periods of off rate time, and crew costs will be capitalized during rig modifications and/or upgrades.

Rowan Companies plc is a major provider of international and domestic contract drilling services with a leading position in high-specification jack-up rigs. The Company’s fleet of 30 jack-up rigs is located worldwide, including the Middle East, the North Sea, Trinidad, Egypt, Southeast Asia and the Gulf of Mexico.

Press Release, July 19, 2013

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