Rowan said late on Monday that Freeport-McMoRan's oil and gas unit will pay $215 million in cash to settle "outstanding receivables and early termination of the contract".
The operator booked the ultra-deepwater drillship on a contract that kicked off in June of last year. It was due to expire in June 2017.
The dayrate was about $596,000.
Rowan may also receive additional contingent payments from Freeport-McMoRan of $10 million and $20 million, respectively, depending on the average price of oil over a 12-month period, the company said.
Rowan
