Rowan Companies plc (Rowan) (NYSE: RDC) announced today that the Rowan Renaissance, an R-Class ultra-deepwater drillship, has been awarded a contract in Mexico by Total with a firm term of one well with an estimated duration of 60 days.
The agreement includes three one-well options that can be exercised by other Total affiliates. Operations are expected to commence in early 2019. The Rowan Renaissance is currently being reactivated from warm stack offshore Louisiana.
Rowan is a global provider of contract drilling services with a fleet of 25 mobile offshore drilling units, composed of 21 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 seven 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."