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Rowan Companies awarded contract for fourth ultra-deepwater drillship

Rowan Companies (RDC) announced that one of its subsidiaries has entered into a two-year drilling contract for the Rowan Relentless, the fourth and final drillship in Rowan's current construction program. The contract is with Freeport-McMoRan Oil & Gas, a subsidiary of Freeport-McMoRan Copper & Gold (FCX), for operations in the U.S. Gulf of Mexico. The contract is expected to commence in the third quarter of 2015 and will add approximately $425M to Rowan's current contract backlog.