Rowan Companies (RDC) is an offshore drilling company specializing in the shallow water jack-up market. However, the company has begun making a push into the ultra-deepwater market by ordering four drillships which are currently under construction. These drillships will hopefully allow Rowan to gain a foothold in and participate in the outsize profits which are present in the ultra-deepwater market. Considering the present dynamics in the ultra-deepwater market (which will be discussed later), this move has the potential to be very beneficial to the company and its shareholders.
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