EnergyWatch

Rowan said to be in talks to acquire Maersk Drilling

Houston-based oilfield services company Rowan Cos. is allegedly in talks to acquire the Maersk Group's drilling business. Maersk Drilling has also attracted attention from other offshore drilling companies, sources say.  

Oilfield-services company Rowan Cos. is in talks to acquire the drilling business of A.P. Moller-Maersk A/S, which is selling energy assets to focus on transportation, people familiar with the matter said.

The drilling business assets could be valued at about USD 4 billion, although the valuation could change as the talks proceed, the people said, asking not to be identified as the information is private. Rowan, an offshore contract driller, has a market value of USD 1.4 billion, down from USD 5.6 billion in 2011, when oil sold for more than USD 100 a barrel.

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