This article was originally published by TheStreet on November 14, 2014
By Sarfaraz A. Khan
NEW YORK (TheStreet) -- Rowan Cos. (RDC) is in a better position than most of its rivals in the offshore drilling market, thanks to the high quality of its modern rig fleet.
The market has been going through a rough patch because of overcapacity that caused double-digit drops in daily rental rates for floaters -- rigs that are used for drilling in deep waters -- and for jack-ups -- rigs that usually work on depths of less than 600 feet.
