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Rowan Companies Plc  (RDC)
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    Sector  Energy    Industry Oil Well Services & Equipment
 

Rowan Companies Plc's

Competitiveness


 

RDC Sales vs. its Competitors Q2 2017




Comparing the results to its competitors, Rowan Companies Plc reported Total Revenue decrease in the 2 quarter 2017 year on year by -47.67 %, despite revenue increase by most of its competitors of 3.58 %, recorded in the same quarter.

List of RDC Competitors




   
       
 
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Net Income Comparison


Rowan Companies Plc recorded net loss , despite income increase by most of its competitors of -63.69 %

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Rowan Companies Plc's Comment on Competitors and Industry Peers


Our drilling contracts generally provide for a fixed amount of compensation per day (day rate), and are either “well-to-well,” “multiple-well” or "fixed-term" generally ranging from one month to several years. Well-to-well contracts are typically cancellable by either party upon completion of drilling. Fixed-term contracts usually also contain a termination provision such that either party may terminate if drilling operations are suspended for extended periods as a result of events of force majeure. While many fixed-term contracts are for relatively short periods of three months or less, many others are for one or more years, and all can continue for periods longer than the original terms. Well-to-well contracts can be extended over multiple series of wells. Many drilling contracts contain renewal or extension provisions exercisable at the option of the customer at mutually agreeable rates. Many of our drilling contracts provide for separate lump-sum payments for rig mobilization and demobilization. We recognize lump-sum fees and related expenses over the primary contract term. We recognize reimbursement of certain costs as revenues and expenses at the time they are incurred. Our contracts for work in foreign countries generally provide for payment in United States (U.S.) dollars except for amounts required by applicable law to be paid in the local currency or amounts required to meet local expenses.

A number of factors affect our ability to obtain contracts at profitable rates within a given area. Such factors, which are discussed further under “Competition” and in "Risk Factors" include, among other things, the price of oil and gas which can affect our customers' drilling budgets, location and availability of competitive equipment, the suitability of equipment for the project, comparative operating cost of the equipment, competence of drilling personnel and other competitive factors. Profitability may also depend on receiving adequate compensation for the cost of moving equipment to drilling locations.

During periods of weak demand and declining day rates, we have historically accepted lower rates in order to keep our rigs working and to mitigate the substantial costs of maintaining and reactivating stacked rigs. We have, however, stacked certain rigs in the past rather than make the substantial improvements required to secure ongoing work. We generally have a mix of short- and long-term contracts that enable us to take advantage of higher rates in rising markets (and to cover potential higher operating costs) as well as to provide down-side protection when markets decline.

Saudi Aramco and Total Exploration & Production accounted for 26% and 11%, respectively, of our consolidated revenues.



<<  See the full list of RDC competitors


Competitiveness By Company's Divisions



  

Drilling Segment Market Share Q2 2017

Drilling segment sales advanced by 16.87 % Rowan Companies Plc outperformed its competitors in this segment and improved market share, to approx. 2.77 %.

<<  More on RDC Market Share.
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