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Rowan +3% after reportedly selling cold-stacked rig

Published 03/09/2018, 02:54 PM
© Reuters.  Rowan +3% after reportedly selling cold-stacked rig
RDC
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  • Rowan Companies (RDC +3.5%) rises following a report that it sold one if its jack-up drilling rigs to Middle East conglomerate Advanced Energy Systems.
  • RDC sold its previously cold-stacked Rowan Gorilla IV rig for an undisclosed price on March 6, according to the report, which offers no further details.
  • The rig is a LeTourneau Technologies Gorilla class jack-up rig design with 638 ft.-long legs; its maximum drilling depth is 30K ft.
  • Now read: Rowan: Tides Still Not Lifting All Boats


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