11
2014 Annual Report
RESUMING OPERATIONS
IN THE GULF OF MEXICO
In late 2013, Cobalt executed a drilling contract with Rowan Reliance
Limited, an aliate of Rowan Companies plc, for the Rowan Reliance,
a new-build, ultra-deepwater dynamically positioned drillship which is
capable of operating in water depths of up to 12,000 feet (3,658 meters)
and drilling to measured depths of up to 40,000 feet (12,192 meters).
This state-of-the-art deepwater DP-3 compliant rig is equipped with retract-
able thrusters, five mud pumps, dual mud systems, a 2.5 million pound
hookload capacity and two seven-ram BOP systems, which provides the
robust drilling and safety capabilities needed to drill all of our deepwater
Gulf of Mexico wells.
In early 2015, we took delivery of the Rowan Reliance, which we plan to use
for our operated U.S. Gulf of Mexico drilling campaign. The Rowan Reliance
is our only operated rig in the U.S. Gulf of Mexico and will be used primarily
for appraisal and development work. In early February, 2015, we spud the
North Platte #2 appraisal well and the results from this well will help us as
we continue to evaluate potential development options for this exciting
deepwater discovery.
