About this book:

"Rowan Cos.: The Story of An American Company" chronicles the remarkable journey of Rowan Companies Inc., from its founding in the Texas oil boom of 1923 to its eventual merger and liquidation almost a century later. This book offers a comprehensive look at how two brothers, Charlie and Arch Rowan, built a drilling powerhouse that navigated the tumultuous waters of the Great Depression, contributed to wartime energy efforts, and continuously pushed the boundaries of technological innovation. Readers will discover Rowan's pioneering adoption of diesel-electric rigs, its bold expansion into challenging environments like Louisiana's marshlands and the Alaskan frontier, and its strategic relocation to Houston, the burgeoning energy capital.

The narrative delves into Rowan's pivotal moments, including its 1967 IPO, which fueled aggressive growth and its foray into the capital-intensive world of offshore drilling. It highlights the company's resilience during the 1970s energy crises and the challenging oil price volatility of the 1980s, which paradoxically spurred the development of its iconic, groundbreaking "Gorilla" rigs—engineering marvels that redefined deepwater capabilities. Beyond drilling, the book explores Rowan's shrewd diversification into aviation with the acquisition of ERA Helicopters, an asset that proved invaluable for logistics and emergency response, including its critical role in the Exxon Valdez cleanup.

Ultimately, "Rowan Cos." is a testament to the cycles of American enterprise. It details the company's strategic divestitures to refine its focus on ultra-deepwater technologies, leading to the construction of a cutting-edge drillship fleet, and its formation of the transformative ARO Drilling joint venture with Saudi Aramco. The story culminates in its 2019 merger with Ensco to form Valaris, marking the end of an independent era but ensuring Rowan's legacy of innovation, operational excellence, and adaptability continues to influence the global offshore drilling industry. This book is a must-read for anyone interested in energy history, corporate resilience, and the relentless pursuit of progress in a demanding world.

What You'll Find Inside:

• **From Texas Oil Boom to Global Leader:** Explore Rowan's humble beginnings in 1923, founded by brothers Charlie and Arch Rowan during the Texas oil boom, and trace its evolution into a diversified international drilling and aviation company.
• **Pioneering Technological Innovation:** Discover Rowan's early adoption of diesel-electric drilling rigs, its groundbreaking ventures into offshore drilling in the Gulf of Mexico, and the development of its iconic 'Gorilla' and ultra-deepwater drillship fleets.
• **Strategic Diversification and Vertical Integration:** Learn how Rowan strategically expanded into aviation with ERA Helicopters and acquired manufacturing capabilities like LaTourneau, creating a unique, integrated business model for enhanced efficiency and control.
• **Navigating Crises and Market Volatility:** Understand how Rowan survived the Great Depression, adapted to wartime demands, weathered multiple oil price crashes (including the 1970s energy crisis and 1980s downturn), and managed severe offshore market contractions.
• **Legacy of Resilience and Strategic Partnerships:** Examine Rowan's capacity for strategic adaptation, its move to Houston and London, its critical joint venture with Saudi Aramco (ARO Drilling), and its eventual merger into Valaris, marking the end of an independent era but cementing its lasting impact on the offshore drilling industry.

Who's It For:

This book is for anyone interested in American business history, the evolution of the oil and gas industry, and the stories of companies that adapt and innovate through significant economic and technological shifts. It will particularly appeal to professionals in the energy sector, business students, and readers fascinated by entrepreneurship, technological advancements in heavy industry, and the challenges of global enterprise.