HOUSTON (AP) - Rowan Companies Inc. said Tuesday it signed a six-month
drilling contract worth $56 million for work offshore eastern Canada beginning
in mid-2009.
The contract oil driller did not disclose its partner in the deal. It has
committed one of its "Gorilla" rigs for the job.
Chief Executive Danny McNease said recent contracts "enhance our future
earnings visibility" and that Rowan's fleet is benefitting from strong demand
for high-specification drilling equipment. The company recently reported $110
million worth of drilling contracts for its "Super Gorilla" rigs with CanArgo
Energy Corp. and BG Group PLC.
Rowan shares rose 28 cents to $39.26 in morning trading.
(This version CORRECTS to BG Group sted Bunge Ltd.)
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