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

In an effort to cope in the highly-competitive and financially-struggling offshore drilling industry, some players in this space have resorted to varying strategies. One approach, adopted a couple of times recently by Transocean ( RIG ), is to absorb other competitors in order to boost cash,...

HOUSTON , Oct. 10, 2018 /PRNewswire/ -- Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) announced today that it has concluded the sale of two LeTourneau TARZAN Class jack-up rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling. The net economic impact of t...

My investment thesis has remained consistently bullish on Ensco ( ESV ) due to an expected rebound in the offshore drilling market. A big plus to the thesis is the recent industry consolidation that will reduce a large portion of the major players in the sector. The merger with Rowan ( R...

Image: Jack-up Ensco 121. Courtesy: Ensco Merger Thesis Today, we learned from Offshore Energy Today the following: Offshore drillers Ensco and Rowan have announced an all-stock merger agreement creating an offshore drilling company with 82 rigs in its fleet. Rowan CEO will serv...

I must admit that I woke up this morning quite shocked on the news that British drilling giant Ensco Plc ( ESV ) is acquiring Rowan Companies ( RDC ) in an all-stock deal. This comes on the heels of several other acquisitions and mergers in the offshore drilling industry. In this case though...

Diamond Offshore (DO) was a frequent “guest” in the comments related to the recent announcement of the Ensco (ESV)-Rowan (RDC) merger (I wrote about it here ). Diamond Offshore has followed a very conservative strategy during this downturn, and many observers believe that it has...

NEW YORK, Oct. 08, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Rowan Companies plc (NYSE: RDC) on behalf of stockholders concerning the proposed acquisition of the company by Ensco plc. Pursuant to the proposed transaction, announced...

As the majority of readers already know well, Ensco ( ESV ) and Rowan ( RDC ) decided to merge (my first impression on the merger could be read here ), which is a major event for the whole offshore drilling industry. This decision comes on the back of the recent Transocean's ( RIG ) purchase...

Ensco’s (NYSE: ESV ) acquisition of Rowan (NYSE: RDC ) is “ just in time ,” as utilization rates and dayrates are starting to rise, says Evercore ISI analyst James West, who also continues to believe "offshore drillers are where the doubles, triples and more can be fou...

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...