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Rowan posts loss on jack-up impairments

US driller Rowan swung to a fourth quarter and full year net loss as a $439.4 million non-cash impairment charge on its older jack-up rigs negated higher revenues in both periods.

Deep impact: Jack-up write-off hits profits as drillships like Rowan Renaissance, above, raise revenues
Deep impact: Jack-up write-off hits profits as drillships like Rowan Renaissance, above, raise revenues
Published 27 February 2015, 14:06Updated 17 October 2016, 13:00
Americas