Maersk, Rowan and Offshore Oil Drilling Deal

Rowan Cos. is in talks to acquire the drilling business of A.P. Moller-Maersk shortly after Transocean agreed to buy Songa Offshore for $3.4 billion.

Maersk has 24 drilling rigs, including drill ships, deep-water semi-submersibles and high-end jack-up rigs, according to its website. It employs over 3,000 people and the business generated a profit of about $743 million in FY 2016.

The drilling business assets could be valued at about $4 billion.  Rowan, a Houston TX offshore contract driller, has a market value of $1.4 billion, down from $5.6 billion in 2011, when oil sold for more than $100 a barrel.