Rowan cancels construction of newbuild jackup

Rowan has canceled the construction of one newbuild jackup and suspended work on two others, according to its latest fleet status report.

HOUSTON -- Rowan has canceled the construction of one newbuild jackup and suspended work on two others, according to its latest fleet status report. These are three of seven jackups in its newbuild program slated to be delivered.

Rowan says a final decision to go forward with construction of jackupRowan EXL No. 4 is expected in the coming months, and the decision to resume construction of jackup Joe Douglas is expected by mid-year.

Meanwhile, Saudi Aramco has not yet exercised one-year options to extend existing contracts with four Rowan jackups. The current contracts end in April.

1/27/2009

More in Rigs/Vessels