The new rig is being built at Rowan subsidiary LeTourneau's Vicksburg, Mississippi shipyard and is scheduled for delivery during the third quarter of 2011. In late January, Rowan said it would stop fabrication of the rig, along with a fourth EXL Class unit at Texas-based AmFels. At that time, the contractor also cancelled plans for a fourth ?240C-class jack-up.
Analysts have speculated the move to complete the Joe Douglas was made in order for Rowan to keep the Vicksburg yard open while it seeks to separate the manufacturing business from its core drilling segment.
