Rowan wins ExxonMobil jack-up gig

 

Houston-based rig contractor Rowan has signed a contract for a jack-up unit in the US Gulf of Mexico at a higher dayrate and has taken delivery of its latest deep-water drillship.

Jack-up Rowan Gorilla IV won a 60-day contract with ExxonMobil for work in the US Gulf that will commence at the beginning of November.

The dayrate is $200,000, up from a previous rate of $125,000.

Analysts at Cowen & Company said the dayrate was "ahead of our expectations for a rate in the mid-$100's but we had been assuming the company would look to sign the rig to longer-term work".

The rig had been working for Fieldwood Energy on a contract that concluded this month.

It is expected to receive a standby day rate of $110,000 during the month of October 2014. It will be off rate for planned inspections in the first quarter of next year.

Jack-up Cecil Provine also bumped up its dayrate on a 60-day extension with Fieldwood in the US Gulf starting in early September. The rate is $130,000, up from $125,000 per day previously.

Jack-up Joe Douglas got a 120-day contract extension with Freeport-McMoRan in the US Gulf at the current dayrate of $165,000.

Meanwhile, classification society ABS finished up certification of Rowan's newbuild ultra-deepwater drillship Rowan Resolute, the sister vessel to the Rowan Renaissance.

The contractor confirmed in its fleet status report that the rig had left the Hyundai Heavy Industries yard in Ulsan, South Korea, in late July.

Rowan Resolute will work for Anadarko Petroleum in the US Gulf starting in November on a three-year contract and a dayrate of $608,000.

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