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'Rowan Companies, Inc.' (), founded in 1923 and based in Houston, Texas, is an S&P 500 company which provides contract oil well drilling services and rigs, and manufactures equipment for drilling as well as for mining and timber industries. The company has a fleet of 21 offshore drilling jackup rigs and 26 land drilling rigs. In North America the company operates onshore in the United States, as well as offshore in the Gulf of Mexico and off the coast of eastern Canada, and internationally in the Middle East and the North Sea.
[1]
Its three subsidiary companies are LeTourneau Technologies, Inc., LeTourneau Ellis Williams Company, Inc. (LEWCO) and Oilfield-Electric- Marine (OEM).
Its 21 offshore jackup rigs include cantilever jackup rigs that are designated as Gorilla Class rigs, Super Gorilla Class rigs and Tarzan Class rigs as well as conventional jackup rigs.
★ LeTourneau Technologies, Inc. is a wholly-owned subsidiary which was formerly named LeTourneau, Inc. It was founded by R.G. LeTourneau, an inventor and academic who also founded LeTourneau University. LeTourneau Technologies performs all of the company's manufacturing operations. It operates a steel mini mill that recycles scrap steel, makes steel plate, carbon alloy steel and tool steel plate.
★ The Steel Products group makes higher grades of steel, including mold steels, free machining steel, aircraft quality steels and hydrogen, crack-resistant steels.
★ The Mining Products group makes heavy mining equipment such as large wheeled front-end loaders for coal, gold, copper, diamond and iron ore mines. It operates a network to distribute to the western United States and Australia.
★ The Forestry Products group is based in Portland, Oregon and makes diesel-electric powered log stackers up to 55 ton capacity.
★ The Drilling Systems group makes drilling mud pumps.
★ The Power Systems group makes AC motors and other electrical components for the oil and gas, marine, mining and dredging industries.
Rowan Companies is located at 2800 Post Oak Boulevard, Suite 5450, in Houston, Texas. Daniel McNease is Chairman of the Board, President, and Chief Executive Officer.
R.G. LeTourneau founded his company R.G. LeTourneau, Inc. in 1929 in California as a contractor of earthmoving equipment. LeTourneau manufactured products in Longview, Texas.[2] During World War II, the company provided 70% of the Allies' earthmoving equipment. In 1954, it built the first jack-up drilling platform. In 1955, it made the first log-stacker machine. In 1965, the company made the first intermodal crane.[3]
Marathon LeTourneau Company designed all of Rowan Companies' jack-up rigs, and delivered the last one to Rowan as an independent company in 1986.[4]
In 1994, Rowan Companies acquired the assets of Marathon LeTourneau Company.
In 2004, LeTourneau formed an alliance with SourceOne Drilling Systems.
In 2006, LeTourneau changed its name to 'LeTourneau Technologies, Inc.'
Ellis Williams, Jr. founded the Ellis Williams Company, of Houston, Texas. Michael R. Williams served as President. EWCO, Inc. was a sibling company which operated as Traitex Machine Co. and made drilling mud pumps.
On January 31, 2000, Rowan's subsidiary LeTourneau acquired Ellis Williams Company, and also its sibling company EWCO, Inc., for US$9 million. After the acquisition, Ellis Williams, Jr. remained with the new subsidiary as a design consultant, and Michael R. Williams remained as Senior Vice President and General Manager. The new subsidiary company was renamed 'LeTourneau Ellis Williams, Inc.'
Oilfield-Electric-Marine, Inc. had been in business in Houston, Texas since the late 1970s. It made both AC and DC motors and drive systems, electric consoles for marine drilling industries, and medium voltage switchgear.[5]
On February 1, 2002, the Rowan Electric, Inc. subsidiary unit of Rowan Companies acquired assets of Oilfield-Electric-Marine, Inc., which operated as OEM Power Systems, and the Rowan subsidiary company also acquired Industrial Logic Systems, Inc. the same day. The deal was completed for US$8 million in Rowan common stock.
Kevin R. Williams had been President of Oilfield-Electric-Marine, Inc., and he stayed on as President of Rowan Electric, Inc., which then became the Rowan subsidiary division 'Oilfield-Electric-Marine'.
Rowan Drilling Company, Inc. was founded in 1923 by Arch Rowan as a contract drilling business.[6]
In 1947, the drilling company was reorganized as 'Rowan Companies, Inc.'
In the early 1980s, Rowan began building its heavy-duty Gorilla Class jackup rigs for use in harsher offshore environments.
Between 1985 and 1995, Rowan incurred cummulative net losses of over US$360 million.
In 1994, Rowan Companies acquired the assets of Marathon LeTourneau Company.
In 2000, C. Robert Palmer was Chairman and CEO of Rowan Companies, through at least 2002.
In 2001, Rowan began designing its Tarzan Class jackup rigs, and delivered the first one in 2004.
In 2002, Rowan's revenue dropped by 19%, and the company lost $26.1 million.
In 2003, Rowan reached its peak number of employees up to that time, and also after, at 5,395. That year, the company lost US$3.9 million.
In 2004, Rowan sold its aviation subsidiary business Era Aviation, Inc. for $118.1 million in cash. The subsidiary chartered helicopter and fixed-wing aviation services. In 2004, Rowan Companies lost US$1.3 million.
1. Rowan Companies Inc RDC (NYSE), Full Description, Reuters.com
2.
Rowan Companies Inc · 8-K · For 1/13/00, SECInfo.com, Filed On 2/14/00, SEC File 1-05491, Accession Number 950129-0-596
3. LeTourneau Technologies. A History of Innovation., LeTourneau Technologies, Inc.
4. ROWAN COMPANIES INC, Form:10-K, EdgarOnline, SEC Filing Date:3/16/2005
5. Rowan "bolts on" manufacturing capabilities, MarineLog.com, February 1, 2002
6. Rowan Companies, Inc., Corporate Overview
Rowan Companies, Inc.
[1]
Its three subsidiary companies are LeTourneau Technologies, Inc., LeTourneau Ellis Williams Company, Inc. (LEWCO) and Oilfield-Electric- Marine (OEM).
| Contents |
| Drilling rigs |
| Manufacturing |
| History |
| LeTourneau Technologies |
| LeTourneau Ellis Williams |
| Oilfield-Electric-Marine |
| Rowan Companies |
| References |
| External links |
Drilling rigs
Its 21 offshore jackup rigs include cantilever jackup rigs that are designated as Gorilla Class rigs, Super Gorilla Class rigs and Tarzan Class rigs as well as conventional jackup rigs.
Manufacturing
★ LeTourneau Technologies, Inc. is a wholly-owned subsidiary which was formerly named LeTourneau, Inc. It was founded by R.G. LeTourneau, an inventor and academic who also founded LeTourneau University. LeTourneau Technologies performs all of the company's manufacturing operations. It operates a steel mini mill that recycles scrap steel, makes steel plate, carbon alloy steel and tool steel plate.
★ The Steel Products group makes higher grades of steel, including mold steels, free machining steel, aircraft quality steels and hydrogen, crack-resistant steels.
★ The Mining Products group makes heavy mining equipment such as large wheeled front-end loaders for coal, gold, copper, diamond and iron ore mines. It operates a network to distribute to the western United States and Australia.
★ The Forestry Products group is based in Portland, Oregon and makes diesel-electric powered log stackers up to 55 ton capacity.
★ The Drilling Systems group makes drilling mud pumps.
★ The Power Systems group makes AC motors and other electrical components for the oil and gas, marine, mining and dredging industries.
Rowan Companies is located at 2800 Post Oak Boulevard, Suite 5450, in Houston, Texas. Daniel McNease is Chairman of the Board, President, and Chief Executive Officer.
History
LeTourneau Technologies
R.G. LeTourneau founded his company R.G. LeTourneau, Inc. in 1929 in California as a contractor of earthmoving equipment. LeTourneau manufactured products in Longview, Texas.[2] During World War II, the company provided 70% of the Allies' earthmoving equipment. In 1954, it built the first jack-up drilling platform. In 1955, it made the first log-stacker machine. In 1965, the company made the first intermodal crane.[3]
Marathon LeTourneau Company designed all of Rowan Companies' jack-up rigs, and delivered the last one to Rowan as an independent company in 1986.[4]
In 1994, Rowan Companies acquired the assets of Marathon LeTourneau Company.
In 2004, LeTourneau formed an alliance with SourceOne Drilling Systems.
In 2006, LeTourneau changed its name to 'LeTourneau Technologies, Inc.'
LeTourneau Ellis Williams
Ellis Williams, Jr. founded the Ellis Williams Company, of Houston, Texas. Michael R. Williams served as President. EWCO, Inc. was a sibling company which operated as Traitex Machine Co. and made drilling mud pumps.
On January 31, 2000, Rowan's subsidiary LeTourneau acquired Ellis Williams Company, and also its sibling company EWCO, Inc., for US$9 million. After the acquisition, Ellis Williams, Jr. remained with the new subsidiary as a design consultant, and Michael R. Williams remained as Senior Vice President and General Manager. The new subsidiary company was renamed 'LeTourneau Ellis Williams, Inc.'
Oilfield-Electric-Marine
Oilfield-Electric-Marine, Inc. had been in business in Houston, Texas since the late 1970s. It made both AC and DC motors and drive systems, electric consoles for marine drilling industries, and medium voltage switchgear.[5]
On February 1, 2002, the Rowan Electric, Inc. subsidiary unit of Rowan Companies acquired assets of Oilfield-Electric-Marine, Inc., which operated as OEM Power Systems, and the Rowan subsidiary company also acquired Industrial Logic Systems, Inc. the same day. The deal was completed for US$8 million in Rowan common stock.
Kevin R. Williams had been President of Oilfield-Electric-Marine, Inc., and he stayed on as President of Rowan Electric, Inc., which then became the Rowan subsidiary division 'Oilfield-Electric-Marine'.
Rowan Companies
Rowan Drilling Company, Inc. was founded in 1923 by Arch Rowan as a contract drilling business.[6]
In 1947, the drilling company was reorganized as 'Rowan Companies, Inc.'
In the early 1980s, Rowan began building its heavy-duty Gorilla Class jackup rigs for use in harsher offshore environments.
Between 1985 and 1995, Rowan incurred cummulative net losses of over US$360 million.
In 1994, Rowan Companies acquired the assets of Marathon LeTourneau Company.
In 2000, C. Robert Palmer was Chairman and CEO of Rowan Companies, through at least 2002.
In 2001, Rowan began designing its Tarzan Class jackup rigs, and delivered the first one in 2004.
In 2002, Rowan's revenue dropped by 19%, and the company lost $26.1 million.
In 2003, Rowan reached its peak number of employees up to that time, and also after, at 5,395. That year, the company lost US$3.9 million.
In 2004, Rowan sold its aviation subsidiary business Era Aviation, Inc. for $118.1 million in cash. The subsidiary chartered helicopter and fixed-wing aviation services. In 2004, Rowan Companies lost US$1.3 million.
References
1. Rowan Companies Inc RDC (NYSE), Full Description, Reuters.com
2.
Rowan Companies Inc · 8-K · For 1/13/00, SECInfo.com, Filed On 2/14/00, SEC File 1-05491, Accession Number 950129-0-596
3. LeTourneau Technologies. A History of Innovation., LeTourneau Technologies, Inc.
4. ROWAN COMPANIES INC, Form:10-K, EdgarOnline, SEC Filing Date:3/16/2005
5. Rowan "bolts on" manufacturing capabilities, MarineLog.com, February 1, 2002
6. Rowan Companies, Inc., Corporate Overview
External links
Rowan Companies, Inc.
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