Rowan expects to spud the Blackbeard probe in either December or January. The high-pressure, high-temperature well is expected to take around 350 days to drill down to a depth of about 30,000 feet.

Rowan chairman and chief executive Danny McNease said it will take an 8.5-inch diameter hole to start the well, which is larger than usual.

The contractor intends to commit its Tarzan-class jack-up rig Scooter Yeargain, if the unit is available.

Rowan