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ARO Drilling

Company Summary

Description

50/50 joint venture between Rowan and Saudi Aramco that operates a fleet of jackup rigs in Saudi Arabia.

Operational Regions

  • Middle East

Related Entities

Recent news

  • 10/10/2018 - Rowan Completes Sale of... (subscriber access)
  • 10/19/2017 - Rowan Launches ARO... (subscriber access)

Company Transactions

Date: 10/1/2018
Type: Acquisition

BUYERS:
  • ARO Drilling
    • SELLERS:
  • Rowan Companies plc
    • DETAILS:

    COST: 266 $MM

    NOTES:
    Rowan Companies completed the sale of two LeTourneau TARZAN Class jack-up rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling for roughly $90 million in cash and $176 million in shareholders notes. The transaction closed on October 1, 2018.