Rowan Obtains 785-Day Contract for Jack-up Gorilla IV
25 March 2009 - 12:14AM
PR Newswire (US)
HOUSTON, March 24 /PRNewswire-FirstCall/ -- Rowan Companies, Inc.
(NYSE: RDC) announced today that it has signed an agreement with
Petroleos Mexicanos ("PEMEX") for Rowan's Gorilla IV, with work
commencing in the second quarter of 2009. The contract is expected
to provide approximately $124 million of drilling revenues. (Logo:
http://www.newscom.com/cgi-bin/prnh/20081031/DA43093LOGO) Matt
Ralls, Rowan's President and Chief Executive Officer, commented,
"We are delighted for this opportunity to further diversify our
global drilling operations and look forward to working for PEMEX
again." Rowan Companies, Inc. is a worldwide provider of contract
drilling services utilizing a fleet of 22 high-spec offshore
jack-up rigs and 32 deep-well land drilling rigs. The Company's
manufacturing division, LTI, produces equipment for the drilling,
mining and timber industries. For more information on Rowan, please
visit http://www.rowancompanies.com/. This report contains forward
looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, without limitation,
statements as to the expectations, beliefs and future expected
financial performance of the Company that are based on current
expectations and are subject to certain risks, trends and
uncertainties that could cause actual results to differ materially
from those projected by the Company. Among the factors that could
cause actual results to differ materially include oil and natural
gas prices, the level of offshore expenditures by energy companies,
energy demand, the general economy, including inflation, capital
markets conditions, weather conditions in the Company's principal
operating areas and environmental and other laws and regulations.
Other relevant factors have been disclosed in the Company's filings
with the U. S. Securities and Exchange Commission.
http://www.newscom.com/cgi-bin/prnh/20081031/DA43093LOGO
http://photoarchive.ap.org/ DATASOURCE: Rowan Companies, Inc.
CONTACT: Suzanne M. McLeod, Director of Investor Relations of Rowan
Companies, Inc., +1-713-960-7517, Web Site:
http://www.rowancompanies.com/
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