Rowan Companies has wrapped up the purchase of the LeTourneau Super 116E jack-up rigs P-59 and P-60 in a public auction from a unit of Brazil's state-owned Petrobras for US $38.5m per rig. Rowan was the high bidder in the Petrobras auction in May 2017 with a bid price of $30m per rig. While the high bid was not accepted by Petrobras, after negotiations, both parties agreed to the revised price. The firm intends to mobilise these jack-ups to the Middle East from their current location offshore Brazil in late Q1 2018.
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