Rowan Reliance Awarded Fieldwood Contract

Offshore drilling contractor Rowan Companies plc (RDC) announced Monday that its drillship Rowan Reliance has been awarded a contract in the U.S. Gulf of Mexico by Fieldwood Energy LLC.

The contract is for a firm term of one year plus three 90-day options, and is expected to commence the first quarter of 2019. The R-Class ultra-deepwater Rowan Reliance is currently warm stacked offshore Louisiana in the U.S. Gulf of Mexico.

Tom Burke, Rowan's president and CEO, said, "We are excited to continue our long-standing relationship with Fieldwood, a premier offshore operator, and look forward to a successful, long-term partnership with this major player in the Gulf of Mexico."

In addition, Cantium has extended its previously announced contract for the EXL III in the U.S. Gulf of Mexico by three months. The firm term of this contract is now nine months followed by two six-month options with increasing day rates. BP has extended its contract with the Joe Douglas in Trinidad by one well with an expected duration of 76 days. The extension includes one additional two-well option at then market rates.

Houston-based Rowan operates a fleet of 25 mobile offshore drilling units, composed of 21 self-elevating jack-up rigs and four ultra-deepwater drillships. Earlier this month, larger offshore drilling rival Ensco Plc (ESV) Rowan Cos Plc announced plans to buy Rowan in an all-stock deal valued at $2.38 billion.