Tarzan-class rig targets Gulf of Mexico market

Rowan Cos. Inc., Houston, is currently designing the first of its new Tarzan-class jack up rigs, which was unveiled during a conference call in July 2001. Following the 9-12 month design period, construction will start on the Scooter Yeargain in 2002 at LeTourneau Inc. yard in Vicksburg, Miss., with rig release and deployment targeted for the third quarter 2004.The Tarzan-class rig will be one-third the size of Rowan's Gorilla-class rigs, according to Bill Provine, vice-president for investor relations. The new rig will have one-third the steel and will cost about $70 million, depending on inflation and other unknowns, compared to about $200 million for a Gorilla-class rig.Targeting t...

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