Profile: Rowan Companies PLC (RDC.N)
21 Jun 2017
Rowan Companies plc, incorporated on October 11, 2011, is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company's fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships. The Company's fleet operates across the world, including the United States Gulf of Mexico (US GOM), the United Kingdom and Norwegian sectors of the North Sea, the Middle East and Trinidad. Rowan Companies Inc. is the subsidiary of the Company.
As of February 14, 2017, the Company's drilling fleet consisted of four ultra-deepwater drillships; 19 high-specification cantilever jack-up rigs, and six premium cantilever jack-up rigs. The Company's drillships are equipped with two drilling stations within a single derrick allowing the drillships to perform preparatory activities offline and potentially simultaneous drilling tasks during certain stages of drilling. Its drillships are equipped to drill in 12,000-foot water depths, are equipped with 2,500,000 pound hook-load capability, and are capable of drilling high-pressure/high-temperature (HPHT) wells to 40,000-foot depths.
The Company's jack-ups are capable of drilling wells to maximum depths ranging from 25,000 to 40,000 feet and in maximum water depths ranging from 300 to 550 feet, depending on rig size, location and outfitting. Its three N-Class rigs are capable of drilling in water depths to 435 feet in severe environments, such as the North Sea depending on location and outfitting. The N-Class rigs, which were designed for operation in the Norwegian sector of the North Sea, can be equipped to perform drilling and production operations. Its four EXL class rigs enables HPHT drilling in water depths up to 350 feet and are equipped with a hook-load capacity of two million pounds. Its three 240C class rigs are designed for HPHT drilling in water depths up to 400 feet in benign environments and are equipped with a hook-load capacity of 2.5 million pounds.
As of December 31, 2016, the Company's Super Gorilla class rigs operated year-round in 400 feet of water in harsh environments, such as the North Sea. The Bob Palmer, its fourth Super Gorilla class rig, is a version of the Super Gorilla class jack-up designated a Super Gorilla XL. With 713 feet of leg, 139 feet more than the Super Gorillas, and 30% larger spud cans, the Bob Palmer can operate in water depths to 550 feet in normally benign environments, such as the US GOM and the Middle East or in water depths to 400 feet in hostile environments, such as the North Sea. Its Tarzan Class rigs are specifically designed for deep-well, HPHT drilling in up to 300 feet of water in benign environments. Its Rowan Gorilla class rig, the Rowan Gorilla IV, is a jack-up rig and is capable of operating in water depths to 450 feet in benign environments.
Rowan Companies PLC
Cannon Place, 78 Cannon Street
LONDON EC4N 6AF
Company Web Links
- BRIEF-Rowan Companies' board confirms it intends to seek shareholder approval at annual meeting to renew 5-year share repurchase authorization
- BRIEF-Rowan Companies says through unit, participated in Petrobras public rig auction
- BRIEF-Rowan Companies qtrly earnings per share $0.07
- BRIEF-Rowan posts Q4 net loss $0.19 per share
- BRIEF-Rowan Companies called for redemption all $92.1 mln of its 5.00% senior notes due 2017 on Jan. 9, 2017