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ROWAN COMPANIES INC. /Houston, Texas This Rig Supplier Doesn't Ape The Competition.(A)
By Marilyn Alva
Investor's Business Daily
Winds in Europe's North Sea can kick up to 100 miles an hour, whipping wavesto 50 feet. On top of that, it's bitterly cold.
That kind of weather scares away a lot of folks. But it's the perfect storm for Texas oil-rig firm Rowan Cos. Inc.
"It's a natural for the new type of rigs we're building," said Ed Thiele, Rowan's chief financial officer.
Most of Rowan's operating earnings come from leasing offshore rigs, or "jack-ups," to oil and gas companies such as Chevron Corp., Anadarko Petroleum and El Paso Energy Corp. It's got 23 of them.
But most of those rigs are at work in the Gulf of Mexico, not the North Sea.
- Rowan Announces North Sea Contract For Gorilla VII.
- Press release article from: PR Newswire October 11, 2002 700+ words
...ROWANLOGO ) Bob Palmer, Rowan Chairman and Chief Executive...Officer, commented, "The North Sea is a rapidly changing...and it is important for Rowan to be at the forefront...marginal oil fields in the North Sea. The Ardmore Field...design capability." Rowan Companies, Inc. ...
- Rowan Companies, Inc. Reports a Further Reduction of Its North Sea Drilling...
- Press release article from: PR Newswire October 25, 1999 700+ words
...drilling activity in the North Sea, Rowan is mobilizing two additional...were mobilized from the North Sea during the second quarter. Rowan Gorilla V departed Dundee...rigs remaining in the North Sea -- the Arch Rowan, which is idle, and...
- Rowan is Awarded Two North Sea Drilling Contracts.
- Press release article from: Business Wire March 14, 2006 700+ words
HOUSTON -- Rowan Companies, Inc...are for work in the North Sea beginning early next...relocated to the North Sea. Collectively...Norwegian sector. Rowan estimates that minimum...Super Gorilla to the North Sea, joining Gorillas...strategically relocate Rowan's fleet ...
- Rowan Obtains North Sea Contract for Gorilla VII.
- Press release article from: Business Wire June 27, 2005 700+ words
HOUSTON -- Rowan Companies, Inc. (NYSE...contract for use of the Rowan Gorilla VII in the North Sea commencing in August...Ardmore Field in the North Sea which the Company expects...conclude during July. Rowan Companies, Inc. is...
- Rowan gets North Sea deals.(Rowan Drilling)(Brief article)
- Newspaper article from: The Oil Daily March 15, 2006 700+ words
...drilling contractor Rowan said Tuesday it will...jack-up rigs to the North Sea early next year after...and gas companies. Rowan Chairman and Chief...McNease said when Rowan moves the Gorilla VI into the North Sea, it will have three...
- Rowan Updates Status of Its North Sea Contract for Gorilla VII.
- Press release article from: Business Wire June 4, 2005 700+ words
HOUSTON -- Rowan Companies, Inc. (NYSE...Ardmore Field Development in the North Sea, that Tuscan is insolvent...the Field has been shut in. Rowan expects that Field abandonment...price of oil. In March 2004, Rowan agreed to reduce the day rate...
- Rowan Extends North Sea Contract for Gorilla VII.
- Press release article from: Business Wire February 15, 2006 700+ words
HOUSTON -- Rowan Companies, Inc. (NYSE:RDC...of its drilling contract for the Rowan Gorilla VII in the North Sea. E[acute accent]Gorilla VII...93 million. E[acute accent]Rowan Companies, Inc. is a major provider...
- Rowan rig to stay in North Sea.(Offshore)(Brief article)
- Newspaper article from: The Oil Daily February 16, 2006 700+ words
The Rowan Gorilla VII drilling rig will remain in the North Sea through at least August 2007...company revenues of $93 million. Rowan said the jack-up rig is currently...option for a second year. The Rowan Gorilla VII is an enhanced Gorilla...