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Rowan Drillship Received Notice of Termination from Repsol

Source: Reuters 11/15/2016, Location: North America

Rowan companies plc received notice of early termination from Repsol E&P USA Inc. Under terms of drilling contract for drillship rowan renaissance. Rowan companies expects to continue to be paid by repsol on monthly basis through original termination date of April 22, 2017.

Rowan Companies Plc expects to continue to be paid by repsol on a monthly basis at a rate slightly below current standby rate. Rowan Companies Plc plans to reduce manning and warm stack drillship in near term.

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Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

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