Offshore Drillers Ensco and Rowan Complete Merger

The previously announced merger between offshore drillers Ensco plc and Rowan Companies closed Thursday with overwhelming support from each company's shareholders. The new company, named EnscoRowan, will trade on the New York Stock Exchange under the ticker symbol ESV. The closing of the transaction follows the satisfaction the deals closing conditions including … [Read more...]

Offshore Driller Ensco to Buy Rowan in $2.38 Billion Deal

By John Benny and Shanti S Nair Oct 8 (Reuters) - Deep-sea oil driller Ensco Plc said on Monday it would buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, to take advantage of a nascent recovery in the sector fueled by strengthening oil prices. Offshore drilling, the worst hit during the 2014 slide in oil prices, is set to benefit as recent … [Read more...]

Rowan Said to Be In Talks to Buy Maersk Drilling

By Manuel Baigorri, Dinesh Nair and Matthew Monks (Bloomberg) -- Oilfield-services company Rowan Cos. is in talks to acquire the drilling business of A.P. Moller-Maersk A/S, which is selling energy assets to focus on transportation, people familiar with the matter said. The drilling business assets could be valued at about $4 billion, although the valuation could … [Read more...]

Contract Terminated for Rowan Ultra-Deepwater Drillship

Houston-headquartered drilling contractor Rowan says it has reached an agreement with one of its customers for the early termination of the drilling contract for the ultra-deepwater drillship Rowan Relentless.  The contract with Freeport-McMoRan was scheduled to scheduled to terminate in June 2017, but due to lack of work and a recent restructuring … [Read more...]

Rowan Viking to Get Longer Legs at Damen Shiprepair Vlissingen

The 170 meter tall Rowan Viking jackup will soon be a bit taller as a result of a refit at Damen Shiprepair Vlissingen (DSV).  The yard will be adding another 20 meters to the legs of the Keppel Fels ‘N’ Class rig to allow it to work in deeper waters of the Norwegian North Sea while under contract to Lundin Petroleum. Damen notes that because the leg extension work will be … [Read more...]