Rowan wins drilling contracts in Malaysia and Gulf of Mexico

Rowan Companies has been awarded contracts for two of its jack-up rigs.

 

The Houston-based drilling contractor said that Carigali Hess Malaysia has extended a contract for the EXL IV jack-up rig in Malaysia. The one year extension begins in December this year, with a day rate set at $159.000. The rig’s current day rate is $151.000.

Furthermore, in its fleet status report, Rowan informed that it has been awarded a one well contract by LLOG in the U.S. Gulf of Mexico. The rig to be used by LLOG is the LeTourneau-designed Joe Douglas jack-up unit. The drilling operation is expected to take 75 days. The day rate is $165.000.

Also, Rowan added that the off rate time for its Gorilla VI rig will increase by 30 days during 2Q 2014 for repairs, upgrades, customer required modifications and inspections. Rig is currently expected to return to service at the beginning of May 2014.

Gorilla VII rig returned to service mid-February 2014. It added 19 days off rate time during 1Q 2014 for weather delays. Previously scheduled 140 days out of service project for repairs, upgrades and inspections is planned to occur sometime after 2015.

Full year downtime

“For the full year 2014, the Company expects jack-up out of service time to be approximately 8% of available rig days. The Company does not currently expect any out of service days in 2014 for the drillships, and is expecting operational downtime to be approximately 5% after about a one-year break-in period when operational downtime could be somewhat higher,” Rowan said in the report.

 

 

Offshore Energy Today Staff, February 21, 2014

 

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