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Rowan Companies Lowers Its 2018 Cost Guidance

Sue Goodridge
Rowan Companies Lowers Its 2018 Cost Guidance

Rowan Companies’ (RDC) direct operating costs, excluding rebillable items, were $140 million in 1Q18, below its guidance of $150 million–$160 million. Its costs were lower than expected in 1Q18 due to lower drillship fuel purchases and reduced costs on the Gorilla IV and Ralph Coffman, which came off contract late in 4Q17.