Rowan: Drillship Resolute.
Business Thesis
Rowan Companies (RDC) is one of the best offshore drillers that presents a rock-solid balance sheet and a well-diversified fleet as the recent October fleet status is demonstrating. I recommend reading my preceding article about the last company's fleet status here.
The company owns -- either directly or through Aro Drilling -- a primarily large Jack-up fleet, which represents over 90% of the total backlog, including the long-term effect of the new JV 50/50 created with Saudi Aramco which is an unsettled element to evaluate appropriately. I