Seeking Alpha

Rowan gets contract from Freeport McMoRan, seen adding $425M to backlog

  • Rowan (RDC +0.9%) says it signed into a two-year drilling contract for the Rowan Relentless, the fourth and final drillship in its current construction program, with Freeport McMoRan (FCX) for operations in the Gulf of Mexico.
  • The contract is expected to take effect in Q3 2015 and add ~$425M to RDC's current contract backlog.
  • The four drillships are capable of drilling wells to depths of 40K ft. in water depths up to 12K ft.
Comments (1)
  • Thewaltzy
    , contributor
    Comments (417) | Send Message
    Share price fell afterwards....any real idea why?
    6 Jun 2014, 09:52 PM Reply Like
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