RDC - Rowan Gets New Jack-Up Contract Amid Oil Price Downturn
Pictured: Ralph Coffman Jack-UP
Continuous pressure on oil prices is putting enormous pressure on all offshore drilling stocks. Obviously, the market puts drillers' ability to score contracts under question. In this situation, contract announcements become major news for the whole industry. Not so long ago, we discussed the latest fleet status report from Noble Corp. (NE), which contained a number of contracts and contract extensions. This time, news come from Rowan (RDC): The company has just announced new contract for jack-up Ralph Coffman.
The rig will drill one well for CGX