Rowan extends North Sea contract for Gorilla VII

    Feb. 16, 2006
    Rowan Companies Inc. has entered into a one-year extension of its drilling contract for the Rowan Gorilla VII in the North Sea.

    Offshore staff

    (North Sea) - Rowan Companies Inc. has entered into a one-year extension of its drilling contract for the RowanGorilla VII in the North Sea.

    Gorilla VII is currently working offshore Denmark under a one-year term contract that contained an option for a second year.

    By the exercise of the option, the rig's commitment is now extended to August 2007.

    The extension will generate additional drilling revenues of approximately $93 million.

    02/16/06

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