RDC News and Press, Rowan Companies plc Class A From 10/08/18

This week starts with huge news for the offshore drilling sector: Ensco ( ESV ) merges with Rowan ( RDC ). The companies decided to combine, subject to shareholder vote. Under the terms of the agreement, Rowan shareholders will receive 2.215 Ensco shares for each Rowan share that they own. W...

Ensco (NYSE: ESV ) and Rowan (NYSE: RDC ) agree to merge in an all-stock deal to "create an industry leader in offshore drilling across all water depths" and the broadest geographic presence of any offshore driller. More news on: Ensco PLC, Rowan Companies plc, Energy stocks news, Merger...

Broad Portfolio of High-Specification Floaters and Jack-ups Diverse Customer Base Includes Most of the Largest Holders of Offshore Reserves Broadest Geographic Presence of Any Offshore Driller Well Capitalized with Combined Liquidity of $3.9 Billion $150 Million of Anticipated Annual Expense...

As the offshore drilling market recovery gains some momentum, it is very interesting to see how banks evaluate their clients in the space. Renewing credit facility has been a task for a number of drillers this year. For example, back in May, Rowan ( RDC ) entered into a new credit facility t...

In my works on offshore drilling dayrates ( drillships , semi-subs , jack-ups , drillships part 2 ), I highlighted the fact that the market needs increased scrapping activity even if demand picks up. Put simply, older, less capable rigs should finally pave the way for modern rigs and newbui...

Source: Borr Drilling presentation It turned out that Borr Drilling ( BDRLF ) indeed meant what it said on the first slide of its recent presentation which I presented above. The company has recently announced that it will activate four additional jack-ups. While trading on the OTC (I ...

Ensco 72 Offshore drilling news keep coming in. This time, Offshore Energy Today reported two contracts ( here and here ) for Ensco's ( ESV ) Ensco 72 jack-up. Both contracts are with Corallian Energy for drilling offshore UK. The rig will drill two wells, which should take about 60 days...

This September has become a "drillship dayrate forecast" month here on SA with my articles on the topic, " Will Drillship Rates Rise Rapidly? " and " Will Drillship Rates Rise Rapidly? Part 2 " provoking lively discussion. Now, we have just received a very interesting and important data point ...

This article should be viewed as an update on my previous work, " Will Drillship Rates Rise Rapidly? " Recently, there was plenty of news to digest on the offshore drilling front. Seadrill Partners ( SDLP ) ( here ), Seadrill ( SDRL ) ( here ) and Transocean ( RIG ) ( here ) got contracts fo...

Well, if we needed any more evidence that the offshore drilling industry has finally begun to recover, we got it on Monday when shallow-water specialist Rowan Companies (RDC) announced that the Rowan Norway was awarded a two-well contract by Turkish Petroleum in the Mediterranean Sea. This...