Rowan Cos. Inc. (RDC)

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$RDC 17.71 +15% #offshore

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The US oil rig count rose by seven to 425 this week, according to oilfield-services giant Baker Hughes..$RDC..The US oil rig count rose by seven to 425 this week, according to oilfield-services giant Baker Hughes. 
The gas rig count increased by four to 96.
The oil-rig count has not fallen during the last 14 weeks, the longest streak since before oil prices started slumping in 2014. The tally is now at the highest level since the week of February 12.
After the oil crash started, drillers were forced to cut costs in various ways, including reducing the number of active rigs. The rig count became one way to gauge how oilfields service providers were responding to changes in oil prices, and how confident they felt about market conditions. 

http://www.businessinsider.com/baker-hughes-rig-count-september-30-2016-9

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$RDC..Adding @17.61..Best in the space IMO...

Still conservative though total position

60shrs @20$

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Looking to add $RDC if it goes much lower

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CC seems to be going well.. $RDC

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$RDC @21.05

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$RDC..@21.57 anyone have this on their shopping list

[Penny Roger$]

Looking like a move could be in store here.

http://www.google.com/finance/option_chain?q=NYSE:RDC

[jump1]

Reported better-than- expected second-quarter results before today's market open, and the stock was recently trading up 3% to $35.99. Rowan posted second-quarter sales of $408.9 million, up 16.5%, year-over-year, and ahead of the $400.5 million consensus expectation. Earnings per share (EPS) came in at $0.57 ahead of consensus at $0.55. Rowan saw higher average day rates and higher utilization for its fleet. We like this.

[Penny Roger$]

~ Tuesday! $RDC ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $RDC ~ Earnings expected on Tuesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=RDC&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=RDC&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=RDC
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=RDC#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=RDC+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=RDC
Finviz: http://finviz.com/quote.ashx?t=RDC
~ BusyStock: http://busystock.com/i.php?s=RDC&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=RDC >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[OilStockReport]

Thoughts on RDC's possible takeover?

Rowan Companies Inc. (RDC): Oil & Gas Drilling & Exploration Industry. Market cap of $5.40B. John Dorfman, chairman of Thunderstorm Capital, identified the company as a potential takeover/LBO target. Shorted shares decreased from 7.61M to 5.68M over the last three months (-25.36% change). The stock has had a couple of great days, gaining 7.36% over the last week.

[ScovilleUnits]

Simple 6-Month Daily Chart

[ScovilleUnits]

finviz



http://finviz.com/quote.ashx?t=rdc&ty=c&ta=1&p=d

[ScovilleUnits]

RDC: Jefferies Ups to Buy from Hold

Friday , July 16, 2010 06:43ET

Issuer: Rowan Companies Inc (NYSE: RDC)

Analyst Firm: Jefferies Group Inc.

Ratings Action: UPGRADE

Current Rating: Buy (from Hold)

This rating information was reported by TheFlyOnTheWall.

[ScovilleUnits]

Rowan Announces Intent to Purchase Skeie Drilling

Thursday , July 01, 2010 09:00ET

HOUSTON, July 1 /PRNewswire-FirstCall/ -- Rowan Companies, Inc. ("Rowan" or the "Company") (NYSE: RDC) announced today that it has entered into a Share Purchase Agreement (the "Agreement") with Skeie Technology AS, Skeie Tech Invest AS and Wideluck Enterprises Limited and has obtained irrevocable commitments from Skeie Holding AS and Trafalgar AS (collectively, the "Sellers") enabling Rowan to purchase each share of common stock held by the Sellers in Skeie Drilling & Production ASA ("SKDP"). The Agreement is subject to satisfactory due diligence and approval by Rowan's Board of Directors, both of which must occur by July 19, 2010 or the Agreement will terminate.

The Sellers collectively own 1,037,006,792 ordinary shares of SKDP, or 48.8% of the total ordinary shares outstanding. Separately, Rowan had previously acquired approximately 1.5% of SKDP's outstanding ordinary shares.

Under the terms of the Agreement and irrevocable commitments from the Sellers, Rowan will issue 0.00574 shares of its common stock for each ordinary share of SKDP held by the Sellers (or 5,741.67 Rowan shares per one million SKDP shares), for a total of approximately 5,954,151 Rowan shares. This exchange ratio was agreed to based on an SKDP equity valuation of approximately 1 Norwegian Kroner (NOK) per share. Upon completion of the transaction, Rowan will own 50.3% of SKDP's outstanding ordinary shares and will tender for the remaining SKDP ordinary shares on the same terms. Shares of SKDP currently trade on the over the counter list maintained by the Norwegian Securities Dealers Association.

SKDP is a Norwegian entity that owns and manages the construction of three high-spec jack-up rigs, designated "N-class", designed and being built by Keppel FELS Ltd. in Singapore. The expected deliveries of the rigs are September 2010, December 2010 and June 2011, although SKDP is negotiating an option to delay each rig by up to six months in exchange for a higher final payment.

SKDP has a total of $530 million of first and second lien debt outstanding, secured by the rigs. Rowan expects the three rigs will require an additional $420 million for completion, which the Company currently anticipates funding from existing cash and operating cash flows. Based on Rowan's closing stock price on June 30, 2010, and assuming the Company obtains 100% of the SKDP shares, the total purchase consideration would be approximately $1.2 billion, or $410 million per rig, substantially below the estimated replacement cost of an N-class rig.

Matt Ralls, President and Chief Executive Officer, commented, "We are excited about this opportunity to acquire three high-spec jack-ups at a significant discount to current replacement cost. The N-class has been designed and will be equipped for demanding drilling requirements in harsh environments, including the Norwegian market which has a history of very high utilization and day rates compared to most jack-up markets. Also, the Keppel organization has a proven record as one of the world's most capable rig builders and, with the N-class design, has created a jack-up with not only some of the highest specifications in the industry but also capable of simultaneous production operations.

"Rowan's financial condition affords us this opportunity to expand the earnings power of the Company through manageable levels of assumed debt and construction commitments. This transaction is consistent with our stated objective of growing our offshore drilling business though the addition of high- spec equipment, and enables further global geographic and customer diversification of our drilling operations. Upon closing, Rowan will own ten of the top twelve and 14 of the top 22 jack-ups in the global fleet today or under construction, based upon ODS-Petrodata rankings.

"We are also pleased to welcome Bjarne Skeie as a significant shareholder of Rowan. He has built an impressive organization at SKDP that should enable Rowan to advance our entry into the Norwegian drilling market. Combined with Rowan's distinguished operational record throughout the world, we expect these rigs to compete very favorably in every major jack-up market. Our recent three-year contract award for newbuild EXL-II is indicative of the strong demand for high-spec equipment and supports our confidence in our ability to secure attractive commitments for the N-class rigs."

Pareto Securities AS is acting as financial advisor to Rowan.

The Rowan securities offered will not be or have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Company will host a conference call and webcast at 10:00 a.m. U.S. Central Daylight Time today to discuss the acquisition opportunity. Interested parties are invited to listen to the conference call by telephone by dialing [phone] within the U.S. or outside the U.S. [phone]. Alternatively, to access the online simulcast and rebroadcast of the conference call, please visit Rowan's website at www.rowancompanies.com. You should connect to our website at least 15 minutes prior to the conference call to register, download and install any necessary software.

[rigmedic]

Actually they are in the process of selling and I just realized they corrected the press release - were not for sale after all! Ok - im happy again.

http://www.reuters.com/article/marketsNews/idINN0946110620080409?rpc=44

[extelecom]

Sounds like they may just spin off Le Tourneau. I haven't been there in 4 years, but I understand they have expanded a lot because of the oil platform business.

[rigmedic]

Yes he was. The rowan brothers were pretty industious as well.
yeah - all eyes on it - we have no idea what will happen. I do not own stock either.

[extelecom]

Interesting... I have lived in Tx almost all my life and had never heard of Le Tourneau until 4 years ago when I went to their Steel Mill in Lngview and visited the museum at the college. Le Tourneau was quite a man.
Hopefully the sale won;t cause you any problems.

[rigmedic]

O thats ok - I work for them BTW lol

[extelecom]

Rig, I have no clues... I only found out about Rowan when a relative mentioned that Le Tourneau had been bought out some years back by another company so I did some research on it and found RDC. I never bought any.

[rigmedic]

What do yall think of todays news?? Im Skeeeeerd! Looks like Uncle Danny gonna sell us.

http://www.reuters.com/article/marketsNews/idINN0946428720080409?rpc=44

[frenchee]

New charts in ibox.

[frenchee]

Looks like Rowan's trend is starting to roll over...

[extelecom]

Le Tourneau was an interesting guy. I have ben to the steel mill and visited the University (http://www.letu.edu/). When relative said he thought they were bought out by someone a while back I did some research. That's the extent of my interest so far.

[frenchee]

thanks for sharing and welcome to the board!

[extelecom]

FWIW, I just posted this on another board.
I know next to nothing about RDC, just got interested after talking with a relative:

http://investorshub.advfn.com/boards/read_msg.asp?message_id=25768902

[frenchee]

Looks like a short-term bottom was put in @ 34.79

[frenchee]

Rowan is building a base. Got to have patience with this one...

[frenchee]

Company Performs Well In Fundamental Analysis -
MarketGrader currently has a BUY rating on ROWAN COS INC (RDC), based on a final overall grade of 69.0 scored by the company's fundamental analysis. ROWAN COS INC scores at the 93rd percentile among all 5464 U.S. listed equities currently followed by MarketGrader. Our present rating dates to May 2, 2007, when it was upgraded from a HOLD. Relative to the Oil & Gas Drilling sub-industry, which is comprised of 20 companies, ROWAN COS INC's grade of 69.0 ranks 11th. The industry grade leader is NOBLE CORP (NE) with an overall grade of 88.2. The stock, up 9.86% in the last six months, has outperformed both the Oil & Gas Drilling group, up 5.56% and the S&P 500 Index, which has returned 3.47% in the same period.