U.S. Markets open in 2 hrs 37 mins

Blog Exposure - Rowan Secured Drillship Contract from ExxonMobil

LONDON, UK / ACCESSWIRE / June 12, 2018 / If you want access to our free research report on Rowan Cos. PLC (NYSE: RDC), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RDC as the Company’s latest news hit the wire. On June 07, 2018, the Company, which is an industry-leading, global drilling contractor, announced that one of its R-Class drillships, Rowan Relentless, has been awarded a contract by ExxonMobil Corp. (NYSE: XOM) to drill a prospect in the US Gulf of Mexico. Financial details of the contract remain undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Rowan and Exxon Mobil most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=RDC

www.active-investors.com/registration-sg/?symbol=XOM

The contract is expected to commence in September 2018 and last for 80 days, followed by four one-well, priced options.

Rowan’s Recent Contract

On April 30, 2018, the Company announced that four of its idle jack-ups would be leased to ARO Drilling to fulfill four three-year contracts that ARO Drilling was awarded by Saudi Aramco. ARO Drilling would lease the EXL I, EXL IV, Bess Brants, and Earnest Dees (formerly named P-59 and P-60, respectively) from Rowan through a bareboat charter lease mechanism. The estimated commencement of the contracts was during Q3 2018 for the EXL I and EXL IV, and late 2018 or early 2019 timeframe for the Bess Brants and Earnest Dees. Rowan would prepare the rigs for operations, including all contractually required modifications, and then lease the rigs to ARO Drilling who would operate the rigs in Saudi Arabia. The contract for the four rigs was awarded and was in the process of being finalized.

Rowan’s JVin the Arabian Gulf

Rowan is a 50/50 partner in a joint venture (JV) with Saudi Aramco, entitled ARO Drilling, a world-class offshore drilling contractor that owns, operates, and manages a fleet of five high-specification and premium jack-up rigs in Saudi Arabia. This JV marks a major milestone towards the development of a competitive Saudi energy sector. Saudi Aramco and Rowan have worked together continuously in the Saudi Arabian market since 2006, and this strengthened partnership ensures increased collaboration between the partners, increased efficiency of drilling operations, improved localization of the drilling industry in Saudi Arabia, and best-in-class drilling performance. ARO Drilling is committed to purchasing up to 20 newbuild jack-up rigs over 10 years, taking delivery of the first rig as early as 2021, in order to meet Saudi Aramco’s offshore drilling requirements in the Kingdom.

About Rowan Cos. PLC

Established in 1923, Rowan Cos. is a major provider of global offshore drilling services. The Company is a market leader with one of the youngest fleets in its industry, including four new ultra-deepwater drillships and 27 jack-up rigs, 19 of which are rated high-specification. Rowan's fleet operates worldwide, including the United States Gulf of Mexico, United Kingdom, and Norwegian sectors of the North Sea, the Middle-East, and Trinidad.

About Exxon Mobil Corp.

Founded in 1999 and headquartered in Irving, Texas, ExxonMobil is the world's largest publicly traded international oil and gas company, providing energy that helps underpin growing economies and improve living standards around the world. The Company holds an industry-leading inventory of resources and is one of the world’s largest integrated refiners, marketers of petroleum products and chemical manufacturers.

Stock Performance Snapshot

June 11, 2018 - At Monday’s closing bell, Rowan’s stock marginally climbed 0.37%, ending the trading session at $16.38.

Volume traded for the day: 1.77 million shares.

Stock performance in the last month – up 1.05%; previous three-month period – up 35.48%; past twelve-month period – up 36.73%; and year-to-date - up 4.60%

After yesterday’s close, Rowan’s market cap was at $2.07 billion.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Drilling & Exploration industry. This sector was up 0.5% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors