LeTourneau obtains contract for two jackup rig kits

July 7, 2005
Rowan Companies Inc. announced that its wholly-owned subsidiary, LeTourneau Inc., has entered into a contract to furnish vessel design and components (a LeTourneau kit) for the construction of two Super 116 Class jackup drilling rigs.

Offshore staff

Rowan Companies Inc. announced that its wholly-owned subsidiary, LeTourneau Inc., has entered into a contract to furnish vessel design and components (a LeTourneau kit) for the construction of two Super 116 Class jackup drilling rigs.

Keppel AmFELS will build the rigs for Scorpion Offshore. The LeTourneau kits, which comprise of the rig's legs, jacking systems, cranes, and certain other components, will be delivered in stages in accordance with the construction schedules. Rowan expects the contract to provide $55 million in revenue during 2006 and 2007.

"These rig kit orders, together with our previously announced rig construction contract for Perforadora Central demonstrate that the LeTourneau designed jackp rigs offer superior performance and value," says Danny McNease, chairman and CEO.

7/7/05