Marathon LeTourneau To Construct World's Largest Bottom Supported Mobile Offshore Drilling Unit

Rowan Companies, Inc. has contracted with Marathon LeTourneau Company, a Marathon Manufacturing company, a subsidiary of The Penn Central Corporation, for the construction of the world's largest bottom supported mobile offshore drilling unit (MODU).

The MODU, a larger version of the highly successful Gorilla Class, will feature 605-foot legs and will be capable of operating in water depths of 450 feet with hurricane force winds of 115 mph and waves of 57 feet.

The $85-million MODU will be constructed at Marathon LeTourneau's Vicksburg, Miss., facility with delivery scheduled for the third quarter of 1986. Upon delivery the rig is committed for a drilling program in the Gulf of Mexico.

Commenting upon the investment decision, Rowan chairman C.

R. Palmer stated: "Numerous tracts currently under lease are beyond the water depth capability of existing bottom supported MODUs.

We believe the new Gorilla IV, an enhanced version of our three existing Gorilla rigs, will provide an extremely cost efficient option for exploration and development drilling, particularly for those customers operating in the Gulf of Mexico." Mr. Palmer continued: "Rowan is confident of a bright future for offshore drilling, particularly for technologically superior equipment operating in hostile marine environments.

Evidence of that confidence is demonstrated by the fact that since 1980 Rowan has ordered ten mobile offshore drilling units, which includes six enhanced Class 116-C units, and with the fourth Gorilla Class jackup rig ordered today our investment in hostile environment rigs will exceed $700 million".

Rowan Companies, Inc. serves the petroleum industry as a contract driller, onshore and offshore in domestic and international areas, operates a fleet of charter helicopters and fixed wing aircraft and also engages in petroleum exploration and production.

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Maritime Reporter Magazine, page 12, Jun 1985

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.