Rowan secures work for Gorillas

Feb. 1, 2006
Rowan says it has secured new contracts for its jackups Gorilla VI and Gorilla III.

Offshore staff

(US) – Rowan says it has secured new contracts for its jackupsGorilla VI and Gorilla III.

TheGorilla VI is now committed through November 2006 to drill up to four wells offshore Newfoundland. The rig recently completed work offshore eastern Canada and will soon mobilize to Mulgrave, Nova Scotia for maintenance.

The new assignment, which Rowan expects to begin in early March, will generate revenues of approximately $53 million should it continue through November.

TheGorilla III has been issued a one-year term assignment offshore Trinidad that is expected to generate revenues of approximately $68 million. The rig should fulfill its current commitment in the GoM late in 2Q 2006 and then will relocate to Trinidad in 3Q 2006.

Danny McNease, chairman and CEO of Rowan, commented, "Rowan will continue to pursue opportunities to maximize returns, and we believe theGorilla III contract offers exactly that. We are pleased to return to Trinidad, a jackup market that we have had success working in many times before, and one that we currently view as having long-term sustainability."