UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of Report (Date of earliest event reported): June
3, 2005
ROWAN
COMPANIES, INC.
(Exact
name of registrant as specified in its charter)
|
DELAWARE |
1-5491 |
75-0759420 |
|
(State or other jurisdiction |
(Commission file Number) |
(IRS Employer |
|
of incorporation) |
|
Identification No.) |
|
2800 POST OAK BOULEVARD |
|
|
SUITE 5450 |
|
|
HOUSTON, TEXAS |
77056-6127 |
|
(Address of principal executive offices) |
(zip code) |
(713)
621-7800
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following
provisions:
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR
14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240-14d-2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240-13e-4(c))
Item 8.01. Other Events
On June 3, 2005, Rowan Companies, Inc. received notification from Tuscan
Energy (Scotland) Limited (Tuscan), the operator of one of its Super Gorilla
Class jack-up rigs working on the Ardmore Field Development
in the
North Sea, that Tuscan was insolvent. As a result, Rowan Companies,
Inc.
terminated the contract on June 5, 2005. A press release dated June
3,
2005 and entitled "Rowan Updates Status of its North Sea Contract for Gorilla
VII" is attached as Exhibit 99.1.
On June 7, 2005, Rowan Companies, Inc. announced that the Company agreed
to
sell one of its LeTourneau 52-class jack-up rigs, the Rowan-Texas, for
approximately $45 million in cash, after selling expenses. A press release
dated
June 7, 2005 and entitled "Rowan Announces Sale of Jack-Up Rig" is attached
as
Exhibit 99.2.
Item 9.01. Financial Statements and
Exhibits
(c) Exhibits
|
Exhibit
|
||
|
Number
|
Exhibit
Description
|
|
|
99.1
|
Press Release of Rowan Companies, Inc. dated June 3, 2005 | |
|
99.2
|
Press Release of Rowan Companies, Inc. dated June 7, 2005 |
-2-
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
ROWAN COMPANIES, INC.
By:
/s/ W. H. WELLS
W. H. Wells,
Vice President - Finance and Treasurer (Principal Financial
Officer)
Dated:
June 8, 2005
-3-
INDEX
TO
EXHIBITS
EXHIBIT
DESCRIPTION
|
Exhibit
|
||
|
Number
|
Exhibit
Description
|
|
|
99.1
|
Press Release of Rowan Companies, Inc. dated June 3, 2005 | |
|
99.2
|
Press Release of Rowan Companies, Inc. dated June 7, 2005 |
-4-