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drilling contractors

Oil & Gas

Drilling contractor Rowan puts rivals in the shade with revenue boost

Contract terminations helped US drilling contract Rowan Companies (NYSE: RDC) increase its revenues by a fifth in the second quarter of 2016. The Houston-headquartered firm banked $120million (£90million) during the three months as part of an agreement allowing one of its customers, Freeport, to cancel the contract for the Rowan Relentless drillship early. The company also said its Rowan Reliance drillship experienced lower levels of downtime over the three months.

All News

Seadrill appoints new VP

Seadrill has appointed Anton Dibowitz as executive vice president, adding to his ongoing role as chief commercial officer and freeing chief executive Per Wullf to focus on a refinancing process.

Oil & Gas

Capacity remains an issue despite UKCS downturn

IAN Burdis agrees that the North Sea still presents exciting opportunities for development, with encouraging discoveries and clear development candidates such as Breagh, Rinnes, Huntingdon and perhaps Cladham; also Laggan/Tormore, Rosebank/Lochnagar, Fyne & Dandy, Causeway and Columbus helping to buoy the UK industry.