8 Nov 2013quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $382.8 million and net income of $51.9 million for the period ended 2013-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Nov 2013quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $382.8 million and net income of $51.9 million for the period ended 2013-09-30.
8 Aug 2013quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $408.9 million and net income of $82.8 million for the period ended 2013-06-30.
6 Aug 2013quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $408.9 million and net income of $82.8 million for the period ended 2013-06-30.
10 May 2013quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $394.2 million and net income of $68.1 million for the period ended 2013-03-31.
1 May 2013quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $394.2 million and net income of $68.1 million for the period ended 2013-03-31.
11 Feb 2013substantial holder notice● Neutral
The Vanguard Group reported a ROWAN COMPANIES PLC shareholding of 7,464,452 shares (6.01% of votes) in a periodic institutional filing.
30 Jan 2013substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial ROWAN COMPANIES PLC shareholding (8.09% of votes).
11 Dec 2012debt financing● NeutralMajor
On December 11, 2012 Rowan completed the $600.0 million note sale agreed on December 4: $200.0 million of additional 4.875% notes due June 1, 2022 and $400.0 million of new 5.4% notes due December 1, 2042, guaranteed by the UK parent. Net proceeds are about $610.7 million, intended for general corporate purposes including capital expenditures, and interest starts June 1, 2013. The notes are unsecured and rank equally with the existing 2017, 2019 and 2022 notes and the credit facility.
5 Dec 2012debt financing● NeutralMajor
On December 4, 2012 Rowan Companies, Inc. and its UK parent agreed with underwriters to sell $600.0 million of senior notes: $200.0 million more of the 4.875% notes due 2022 and $400.0 million of new 5.4% notes due 2042, guaranteed by the UK parent. The same day they amended the September 2010 credit agreement, raising borrowing capacity from $500 million to $750 million, with an option to reach $1.0 billion with lender consent. This adds debt and lending room beyond the $500 million 2022 notes issued in May 2012.
5 Dec 2012securities registration● Neutral
ROWAN COMPANIES PLC filed a prospectus supplement for an offering off its existing shelf.
4 Dec 2012securities registration● Neutral
ROWAN COMPANIES PLC filed the final prospectus for a registered offering.
4 Dec 2012securities registration● Neutral
ROWAN COMPANIES PLC filed a free-writing prospectus - marketing material for an offering in progress.
8 Nov 2012quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $353.9 million and net income of $27.6 million for the period ended 2012-09-30.
31 Oct 2012quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $353.9 million and net income of $27.6 million for the period ended 2012-09-30.
26 Sept 2012production update● Neutral
Rowan furnished its monthly fleet status report as of September 26, 2012 with a press release. The release lists one new contract: Joe Douglas, about 60 days of Gulf of Mexico work at a day rate in the low $150s from early October 2012. It also lists downtime: three Tarzan Class rigs with Saudi Aramco move their well-control upgrades to late Q1 2013 (90 days on Hank Boswell and Bob Keller, 120 days on Scooter Yeargain), Gorilla VI about 21 days in the shipyard in November 2012, Rowan California about 120 days from December 2012, and Rowan Middletown about 15 days of repairs in November 2012, with no day rate revenue in those periods. The report also adds a fourth drillship (Deepwater #4, delivery end of March 2015) and gives delivery dates of end Dec 2013 (Renaissance), end June 2014 (Resolute) and end Oct 2014 (Reliance); Resolute, Reliance and the new fourth ship are all still shown as available.
5 Sept 2012production update● Neutral
Rowan furnished its routine monthly fleet status report as of September 5, 2012; the filing itself carries no other news. The report lists the Repsol three-year contract for the Rowan Renaissance drillship with the first-year West Africa rate now stated as the high 610s (the July report said mid 620s West Africa, mid 610s US Gulf), the Resolute and Reliance still shown as available, and the Rowan Norway going to the shipyard in October 2012 for about 60 days before its ConocoPhillips Norway contract to May 2016.
6 Aug 2012quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $351.0 million and net income of $49.4 million for the period ended 2012-06-30.
2 Aug 2012quarterly activities report● Neutral
ROWAN COMPANIES PLC reported quarterly revenue of $351.0 million and net income of $49.4 million for the period ended 2012-06-30.
31 July 2012production update▲ GoodMajor
Rowan furnished its routine monthly fleet status report as of July 31, 2012. The main new item is that the Rowan Renaissance drillship, under construction at HHI with delivery expected late 2013, received a binding letter of intent from Repsol for a three-year global drilling term starting Q1 2014, at a day rate in the mid 620s if working offshore West Africa in the first year (mid 610s if in the U.S. Gulf of Mexico). This is the first contract listed for the drillship programme; the Resolute and Reliance remain unassigned. The report also shows the Rowan Viking's Total UK rate in the low 220s to January 2013, and Aramco late-delivery penalties now stated for Charles Rowan (about $4,000/day) and Rowan-Middletown (about $6,000/day), resolving the earlier 'possible penalty' wording for those rigs, while the Rowan-Mississippi and Bob Palmer penalties remain under appeal.
25 June 2012production update● Neutral
Rowan furnished its routine monthly fleet status report as of June 25, 2012; the filing contains no other news. The report shows the Rowan Stavanger began drilling for Talisman in mid June 2012, the Rowan Viking's Total UK contract now carries two six-month options at rates up to the mid 240s, and the Rowan Gorilla V is listed with Total at a mid 200s day rate to June 2013. The Rowan Gorilla VI's ConocoPhillips Norway contract is now listed as starting in early Q1 2014 and running to July 2017, and the Aramco penalties on Rowan-Mississippi and Bob Palmer are still under appeal.
12 June 2012listing compliance notice▼ BadMajor
ROWAN COMPANIES PLC terminated the registration of a class of securities, ending its reporting obligation for them.
8 June 2012substantial holder notice● Neutral
BlackRock, Inc reported a ROWAN COMPANIES PLC shareholding of 5,604,541 shares (4.51% of votes) in a periodic institutional filing.
8 June 2012listing compliance notice● NeutralMajor
ROWAN COMPANIES PLC's exchange filed to remove a class of its securities from listing.
30 May 2012production update● Neutral
Rowan furnished its routine monthly fleet status report as of May 30, 2012; the filing itself has no other news. The report shows the Rowan EXL IV started work in Malaysia for Carigali Hess in early May 2012 after being idle in April, the Rowan Viking still on a standby rate at Elgin, and the Rowan Gorilla V on standby and expected to resume work at West Franklin in late June 2012 for Total (a change from the earlier Elgin relief-well plan). It repeats the Saudi Aramco late-delivery penalties on Rowan-Mississippi (about $21,000/day) and Bob Palmer (about $6,000/day), both under appeal.
21 May 2012debt financing● NeutralMajor
Rowan Companies, Inc. and its UK parent sold $500 million of 4.875% senior unsecured notes due June 1, 2022, with the offering completed May 21, 2012 and the UK parent guaranteeing them; the notes rank equally with the 5% 2017 and 7.875% 2019 notes. Net proceeds of about $492.2 million are meant to replenish cash recently used to repay about $140.2 million of Title XI (MarAd-guaranteed) secured notes, and for general purposes including repaying in full the last remaining MarAd-guaranteed note (about $110.3 million plus make-whole premium and interest). This adds new unsecured debt and retires the secured MarAd notes, following the May 16-18 shelf and prospectus filings.
18 May 2012securities registration● Neutral
ROWAN COMPANIES PLC filed a prospectus supplement for an offering off its existing shelf.
16 May 2012securities registration● Neutral
ROWAN COMPANIES PLC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
16 May 2012securities registration● Neutral
ROWAN COMPANIES PLC filed the final prospectus for a registered offering.
16 May 2012securities registration● Neutral
ROWAN COMPANIES PLC filed a free-writing prospectus - marketing material for an offering in progress.