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Rowan announces purchase of two modern jackup rigs

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Rowan Companies announced that it has concluded the purchase of two LeTourneau Super 116E jackup rigs, the P-59 and P-60, which were both delivered new into service in 2013, in a public auction from a subsidiary of Petroleo Brasileiro S.A. (Petrobras) for $38.5 million per unit. As previously reported on 11 May 2017, Rowan was the high bidder in a Petrobras public auction with a bid price of $30 million per rig. While the high bid was not accepted by Petrobras after negotiations, both parties agreed to the revised price. Rowan intends to mobilize these modern jackups to the Middle East from their current location in Brazil in late Q1 2018...

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Secretary Zinke announces plan for unleashing America’s offshore oil and gas potential

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US Secretary of the Interior Ryan Zinke announced the next step for responsibly developing the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, which proposes to make over 90% of the total OCS acreage and more than 98% of undiscovered, technically recoverable oil and gas resources in federal offshore areas available to consider for future exploration and development. By comparison, the current program puts 94% of the OCS off limits. In addition, the program proposes the largest number of lease sales in US history...

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