Rowan Signs Drilling Contract With McMoRan Oil & Gas
Rowan Companies, a provider of contract drilling services, has entered into a drilling contract with McMoRan Oil & Gas for the new 240C class jack-up, Rowan-Mississippi.
The contract is for a two-year term and will provide Rowan with approximately $160 million of drilling revenues. The rig will drill one or more ultra deep gas wells in the Gulf of Mexico, including additional drilling on the Blackbeard Prospect.
McMoRan’s partners in the drilling program include Plains Exploration & Production and Energy XXI. Rowan’s Gorilla IV jack-up is currently drilling a well on the Blackbeard Prospect to a depth of approximately 35,000 feet.
Danny McNease, chairman and CEO of Rowan, said: “The demand for premium equipment and proven drilling contractors is continuing throughout the world. We have seen the Gulf of Mexico drilling market strengthen in recent months, and we are especially encouraged by interest in the ultra-deep gas play.”