Repsol terminates Rowan drillship contract

Repsol E&P USA Inc. has issued a notice of early termination to Rowan Companies for the ultra-deepwater drillship Rowan Renaissance.

Offshore staff

HOUSTON– Repsol E&P USA Inc. has issued a notice of early termination to Rowan Companies for the ultra-deepwater drillship Rowan Renaissance.

Rowan says it expects to continue to be paid by Repsol on a monthly basis through the original termination date of April 22, 2017, at a rate slightly less than the current standby rate.

The drilling contractor plans to reduce manning and warm stack the drillship in the near term.

11/16/2016

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