-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OwmuuZvNBzT7uDsktMLzJQXmzMawxMzXpADvQOlp4hTcQYxlvn4tiQWZUCJA3DmO 7nXOBG6VUKqYPtnmtUOtLw== 0000950129-04-000423.txt : 20040203 0000950129-04-000423.hdr.sgml : 20040203 20040203172321 ACCESSION NUMBER: 0000950129-04-000423 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040203 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRIDE INTERNATIONAL INC CENTRAL INDEX KEY: 0000833081 STANDARD INDUSTRIAL CLASSIFICATION: OIL, GAS FIELD SERVICES, NBC [1389] IRS NUMBER: 760069030 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13289 FILM NUMBER: 04563943 BUSINESS ADDRESS: STREET 1: 5847 SAN FELIPE STREET 2: SUITE 3300 CITY: HOUSTON STATE: TX ZIP: 77057 BUSINESS PHONE: 7137891400 MAIL ADDRESS: STREET 1: 5847 SAN FELIPE STREET 2: SUITE 3300 CITY: HOUSTON STATE: TX ZIP: 77057 FORMER COMPANY: FORMER CONFORMED NAME: PRIDE PETROLEUM SERVICES INC DATE OF NAME CHANGE: 19920703 8-K 1 h12357e8vk.txt PRIDE INTERNATIONAL, INC. 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): FEBRUARY 3, 2004 PRIDE INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) DELAWARE 1-13289 76-0069030 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 5847 SAN FELIPE, SUITE 3300 HOUSTON, TEXAS 77057 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (713) 789-1400 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. 99.1 Rig contract status information posted to Pride's website on February 3, 2004. ITEM 9. REGULATION FD DISCLOSURE Pride is hereby furnishing information regarding the contract status of its rigs posted to its website on February 3, 2004. Such information is furnished as Exhibit 99.1 to this Current Report. The information furnished pursuant to this Item 9, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed by Pride under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. 2 SIGNATURE 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. PRIDE INTERNATIONAL, INC. By: /s/ NICOLAS J. EVANOFF -------------------------------- Nicolas J. Evanoff Vice President - Corporate and Governmental Affairs Date: February 3, 2004 3 EXHIBIT INDEX
NO. DESCRIPTION - --- ----------- 99.1 Rig contract status information posted to Pride's website on February 3, 2004.
4 EX-99.1 3 h12357exv99w1.txt RIG CONTRACT STATUS INFORMATION POSTED 2/3/2004 . . . PRIDE INTERNATIONAL RIG STATUS February 3, 2004 OFFSHORE FLEET
Current Contract(1) Rig Name Design Area From To Dayrate(2) Comments -------- ------ ---- ------ ------- ---------- -------- OWNED UNITS DRILLSHIPS Pride Africa 10,000' WD, DP W Africa Oct-99 Jun-05 Low $160s Jul-05 Jul-10 Mid $150s New contract Pride Angola 10,000' WD, DP W Africa May-00 May-05 Low $160s Jun-05 Jun-10 High $150s New contract SEMISUBMERSIBLES Pride Brazil 5,000' WD, DP Brazil Jul-01 Jul-06 Mid $130s Pride Carlos Walter 5,000' WD, DP Brazil Jun-01 Jun-06 Mid $130s Pride North America 7,500' WD, Conv W Africa Aug-99 Aug-04 Mid $160s Pride North Sea 1,000' WD, Conv N Africa Nov-02 Mar-04 Low $50s Pride South America 4,000' WD, DP Brazil Jan-03 Jan-05 High $70s Pride South Atlantic 1,500' WD, Conv Brazil Jan-04 Jul-04 Mid $60s Idle from 10/22/03 - 1/15/04 Pride South Pacific 6,500' WD, Conv W Africa Jan-03 Mar-04 High $90s Pride South Seas 1,000' WD, Conv Mexico Oct-02 Jun-05 Low $50s Pride Venezuela 1,500' WD , Conv Trinidad Idle since 7/20/03 Pride Mexico 2,650' WD , Conv Mexico Oct-03 Apr-07 High $40s JACKUPS International Pride Cabinda 300' ILC W Africa Aug-00 Aug-05 Low $50s Pride Hawaii 300' ILC SE Asia Nov-03 May-05 Low $50s Pride Montana 270' ILC Mid-East Jun-01 Jun-04 Mid $40s Pride North Dakota 250' ILC W Africa Oct-02 Oct-04 Low $60s Pride Ohio 250' ILC Mid-East Apr-02 Mar-04 High $30s Pride Pennsylvania 300' ILC India Jun-03 Jun-06 Mid $50s In shipyard for +/- 90 days for 5-yr survey and upgrade during 1Q-2Q04 Pride Rotterdam 205' Accom N Sea Oct-02 Mar-04 Mid $30s Upgrade for +/- 30 days in 2Q04 May-04 Mar-05 Low $40s New contract Pride West Virginia 300' ILC India Nov-02 Nov-04 Low $50s Gulf of Mexico - Mexico Pride Alabama 200' MC/TD Mexico Jul-03 Jul-07 Mid $30s Pride Alaska 250' MC/TD Mexico Nov-02 Jul-05 Mid $30s Pride Arkansas 200' MC/TD Mexico Nov-03 Oct-06 Mid $30s Pride California 250' MS/TD Mexico Aug-02 Oct-05 Low $30s Pride Colorado 200' MC/TD Mexico Jul-03 Mar-07 Mid $30s Pride Louisiana 250' MS/TD Mexico Apr-02 Jul-06 Low $30s Pride Mississippi 200' MC/TD Mexico Sep-02 Apr-05 Mid $30s Pride Nebraska 200' MC/TD Mexico Nov-02 Jan-06 Mid $30s Pride Nevada 200' MC/TD Mexico Apr-02 Jul-06 Low $30s Pride Oklahoma 250' MS/TD Mexico Sep-02 Apr-05 Mid $30s
(1) Certain information in the table, including expected contract expiration dates, are estimates based on current arrangements with Pride's customers and current expectations as to the time required for completion of projects. (2) Dayrates shown are contract dayrates. They exclude reimbursable items, mobilization and demobilization fees, bonus and other items that constitute revenues under generally accepted accounting principles, but that it is not practicable to determine with specificity on a prospective basis. The Company believes this information is useful to investors in estimating revenues in future periods in combination with the contract term. THE INFORMATION IN THIS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934. THESE FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING CONTRACT EXPIRATION DATES AND DAYRATES. SUCH STATEMENTS ARE SUBJECT TO A NUMBER OF RISKS, UNCERTAINTIES AND ASSUMPTIONS, INCLUDING WITHOUT LIMITATION EARLY TERMINATION BY THE CUSTOMER PURSUANT TO THE CONTRACT OR OTHERWISE, CANCELLATION OR COMPLETION OF CERTAIN CONTRACTS EARLIER THAN EXPECTED, OPERATIONAL DIFFICULTIES AND OTHER FACTORS DESCRIBED IN PRIDE'S MOST RECENT ANNUAL REPORT ON FORM 10-K, QUARTERLY REPORTS ON FORM 10-Q AND OTHER DOCUMENTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, WHICH ARE AVAILABLE FREE OF CHARGE AT THE SEC'S WEBSITE AT www.sec.gov OR THE COMPANY'S WEBSITE AT www.prideinternational.com. PRIDE CAUTIONS YOU THAT FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND THAT ACTUAL RESULTS OR DEVELOPMENTS MAY DIFFER MATERIALLY FROM THOSE PROJECTED OR IMPLIED IN THESE STATEMENTS. OFFSHORE FLEET (CONT'D) Key: DP-Dynamically-positioned. Conv-Conventionally moored. Accom-Accommodation unit. ILC-Ind. leg cantilever. ILS-Ind. leg slot. MC-Mat-supported cantilever. MS-Mat-supported slot. TD-Top drive. TLP-Tension Leg Platform PRIDE INTERNATIONAL RIG STATUS February 3, 2004 OFFSHORE FLEET (CONT'D)
Current Contract(1) Rig Name Design Area From To Dayrate(2) Comments -------- ------ ---- ------ ------- ---------- -------- Pride South Carolina 200' MC/TD Mexico Jul-02 Mar-06 Low $30s Pride Tennessee 300' ILC/TD Mexico Jul-03 Jun-06 High $40s Pride Texas 300' MC/TD Mexico Nov-03 Mar-05 Mid $30s Pride Wisconsin 300' ILS/TD Mexico Jan-04 Dec-06 Mid $30s New contract Gulf of Mexico - USA Pride Arizona 250' MS/TD USA Pride Florida 200' MC/TD USA Dec-03 Mar-04 High $20s Pride Georgia 250' MS/TD USA Nov-03 Mar-04 Mid $20s Pride Illinois 225' MS USA Pride Kansas 250' MC/TD USA Nov-02 Apr-04 High $20s Dayrate indexed monthly based on market dayrates Pride Kentucky 250' MS USA Pride Michigan 250' MS USA Idle since 1/12/04 - currently marketed Pride Missouri 250' MC/TD USA Jan-04 Mar-04 Mid $20s Pride New Mexico 200' MC USA May-03 May-04 Mid $20s Pride Utah 80' MC/TD USA Pride Wyoming 250' MS USA PLATFORM RIGS Platform Rigs - Mexico 3 Units Mexico Various Various High $10s 3 3 of 3 rigs contracted Platform Rigs - USA 18 Units USA Various Various High $10s 3 5 of 18 rigs contracted TENDERS Al Baraka 1 650' WD W Africa Idle since 9/23/03 Alligator 330' WD W Africa Jul-04 Jan-06 High $30s 5-yr survey and upgrade until 6/04 Barracuda 330' WD W Africa Jul-02 Jul-04 Low $40s Ile De Sein 450' WD SE Asia Dec-02 Dec-04 Mid $30s Piranha 600' WD SE Asia Mar-03 Jun-05 Mid $30s BARGES Bintang Kalimantan 21' WD W Africa Sep-01 Feb-04 High $20s Pride I 150' WD Venezuela Jan-95 Jan-05 Mid $20s Pride II 150' WD Venezuela Jan-95 Jan-05 Mid $20s MANAGED UNITS SEMISUBMERSIBLE Leiv Eiriksson 8,200' WD, DP W Africa Jan-02 Mar-04 ** 4 Management fee JACKUPS GP 19 150' ILC Venezuela Dec-00 Apr-04 ** Management fee GP 20 150' ILC Venezuela Dec-00 Mar-04 ** Management fee PLATFORM RIG Kizomba A TLP Drilling Rig W Africa Dec-03 Dec-08 ** Management fee
(1) Certain information in the table, including expected contract expiration dates, are estimates based on current arrangements with Pride's customers and current expectations as to the time required for completion of projects. (2) Dayrates shown are contract dayrates. They exclude reimbursable items, mobilization and demobilization fees, bonus and other items that constitute revenues under generally accepted accounting principles, but that it is not practicable to determine with specificity on a prospective basis. The Company believes this information is useful to investors in estimating revenues in future periods in combination with the contract term. (3) Average contract dayrate for the rig class. (4) ** Not applicable. Key: DP-Dynamically-positioned. Conv-Conventionally moored. Accom-Accommodation unit. ILC-Ind. leg cantilever. ILS-Ind. leg slot. MC-Mat-supported cantilever. MS-Mat-supported slot. TD-Top drive. TLP-Tension Leg Platform PRIDE INTERNATIONAL RIG STATUS February 3, 2004 LAND FLEET
RIG COUNT ----------------------------- COUNTRY TOTAL CONTRACTED UTILIZATION - ------- ------------ ------------ ------------ ARGENTINA DRILLING 51 40 78% ARGENTINA WORKOVER 101 92 91% BOLIVIA DRILLING 5 2 40% BOLIVIA WORKOVER 3 1 33% COLOMBIA / ECUADOR DRILLING 14 10 71% COLOMBIA / ECUADOR WORKOVER 8 5 63% BRAZIL DRILLING(5) 1 1 100% BRAZIL WORKOVER(6) 8 7 88% VENEZUELA DRILLING 9 8 89% VENEZUELA WORKOVER 27 20 74% RUSSIA / KAZAKHSTAN 3 2 67% CHAD 5 5 100% OTHER LAND 14 6 43% ------------ ------------ ------------ TOTAL RIGS 249 199 80% ============ ============ ============
(5) RIG MANAGED BY PRIDE, BUT OWNED BY A THIRD PARTY. (6) FOUR RIGS MANAGED BY PRIDE, BUT OWNED BY THIRD PARTIES. -----END PRIVACY-ENHANCED MESSAGE-----