Rowan (RDC +3%) is selling its land drilling business to Ensign Energy Services (ESVIF.PK +1.4%)...

|About: Rowan Companies plc (RDC)|By:, SA News Editor

Rowan (RDC +3%) is selling its land drilling business to Ensign Energy Services (ESVIF.PK +1.4%) in a deal worth $510M, plus ~$30M in working capital. Rowan says the sale is part of its strategy to shed non-core businesses, and proceeds will be invested in offshore drilling. (PR)