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Rowan fleet status has no new jackup contracts

Jan. 22, 2015 9:55 AM ETRowan Companies plc (RDC) StockBy: Carl Surran, SA News Editor
  • Rowan (NYSE:RDC +0.9%) released its latest fleet status report late yesterday, which did not include any new jackup contracts and saw one rig's contract shortened to finish this August instead of October.
  • With 14 jackups rolling off contract in 2015 plus two already idle, RDC essentially needs to find work for half of its active fleet before year-end (Briefing.com).
  • For Q4 and FY 2014, RDC continues to expect to report respective jack-up out-of-service time of 7% and 10%; for FY 2015, RDC expects out-of-service time of 3% and 6% for itsjack-ups and drillships.

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