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Rowan +3% as Shell hires rig for North Sea work

Published 04/03/2018, 12:19 PM
© Reuters.  Rowan +3% as Shell hires rig for North Sea work
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RDC
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  • Rowan Cos. (RDC +3.1%) is rising after securing a drilling contract for the Rowan Viking rig with Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) for plugging and abandonment work in the U.K.
  • RDC says the ultra-harsh environment jack-up rig will carry out a five-well program on the Goldeneye platform in the central North Sea which ceased production in 2011.
  • The contract is expected to start in June 2018 and continue for ~100 days following completion of the Rowan Viking’s current project with Lundin Petroleum in Norway.
  • Now read: Rowan Reportedly Sells Gorilla IV To ADES


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