Rowan Companies' (RDC) LeTourneau Technologies and Lamprell Energy Contract for Newbuild Jack-up Rig Kit
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Rowan Companies, Inc. (NYSE: RDC) announced that its wholly-owned subsidiary, LeTourneau Technologies, Inc., has entered into a contract to furnish a kit and license to Lamprell Energy, Ltd. ("Lamprell") for the construction of a third Super 116E class jack-up rig.
The rig will be built at Lamprell's Jebel Ali facility located in the United Arab Emirates with delivery expected in June 2010. Lamprell currently has two additional Super 116E class jack-ups under construction under license from LTI. This transaction highlights the strong commitment for growth in the Middle East market by both parties working together.
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