Author: Albena Toncheva
123jump.com
Last Update: 11:09 AM EST November 09 2005

Rowan''''s average offshore day rate worldwide is currently around $100,000 or 20% higher than the average during the quarter. Management said 97% of the company’s offshore rigs were in use during the quarter, unchanged from last year. The average daily rates per rig in the Gulf of Mexico increased 60% from a year ago to a record $74,400. From 1970 to 2000 only 17 rigs were damaged by storms, while in the last 5 years, the company has had 22 rigs either lost or damaged by storms severely.