EX-99.1 2 offshore.htm OFFSHORE offshore.htm
EXHIBIT 99.1
 
 
ROWAN COMPANIES, INC.
OFFSHORE RIG FLEET AND CONTRACT STATUS
As of March 20, 2008
                           
                           
OFFSHORE RIGS
                  
Contract Status
  
   
LeTourneau
  
Depth (feet)
  
Year in
    
Day Rate
Estimated
  
Name
  
Class
  
Water
  
Drilling
  
Service
Location
Customer
(in thousands)
Duration
Comments ($ in thousands)
Cantilever Jack-up Rigs:
                          
Super 116E #4
     S116-E     350     35,000  
2011
TBD
TBD
TBD
TBD
Rig planned for construction with delivery expected in 2011.
Super 116E #3
     S116-E     350     35,000  
2011
TBD
TBD
TBD
TBD
Rig planned for construction with delivery expected in 2011.
  240C #4     240-C     400     35,000  
2011
TBD
TBD
TBD
TBD
Rig planned for construction with delivery expected in 2011.
Super 116E #2
     S116-E     350     35,000  
2010
TBD
TBD
TBD
TBD
Rig planned for construction with delivery expected in 2010.
Super 116E #1
     S116-E     350     35,000  
2010
TBD
TBD
TBD
TBD
Rig planned for construction with delivery expected in 2010.
  240C #3     240-C     400     35,000  
2010
TBD
TBD
TBD
TBD
Rig planned for construction with delivery expected in 2010.
  240C #2     240-C     400     35,000  
2009
TBD
TBD
TBD
TBD
Rig currently under construction with delivery expected in 2009.
Rowan Mississippi
     240-C     400     35,000  
2008
TBD
TBD
TBD
TBD
Rig currently under construction with delivery expected during 3Q 2008.
J.P. Bussell
     225-C     300     35,000  
2008
TBD
TBD
TBD
TBD
Rig currently under construction with delivery expected during 4Q 2008.
Hank Boswell
     225-C     300     35,000  
2006
Middle East
Saudi Aramco
Low 190s
March 2011
  
Bob Keller
     225-C     300     35,000  
2005
Middle East
Saudi Aramco
Low 180s
May 2011
Rig commenced tow to Middle East on February 17.  Day rate includes estimated amortization of relatedmobilization/modification revenues starting in May 2008; no revenues will be recorded during January to April 2008 mobilization/modification
period (+/- 120 days).
Scooter Yeargain
     225-C     300     35,000  
2004
Middle East
Saudi Aramco
Low 190s
March 2011
  
Bob Palmer
     224-C     550     35,000  
2003
Gulf of Mexico
Shipyard
  
March 2008
Rig entered the shipyard on January 30 for modifications and should resume drilling operations by late March.
                           
BP
Low 220s
June 2009
Rowan Gorilla VII
     219-C     400     35,000  
2002
North Sea
Shipyard
  
March 2008
Rig entered shipyard for related modifications on December 19, 2007 and is expected commence tow to Angola by late March 2008 and resume drilling operations in April.  Rig will earn reduced day rate during January - April 2008 mobilization/modification
period (+/- 120 days).
                         
West Africa
Cabinda
Mid 230s
April 2008
                           
Cabinda
Low 330s
April 2010
Rowan Gorilla VI
     219-C     400     35,000  
2000
North Sea
BG
Low 310s
April 2009
  
                           
BG
Mid 300s
October 2009
  
                           
CNR
Mid 300s
March 2010
  
Rowan Gorilla V
     219-C     400     35,000  
1998
North Sea
Total
Mid 170s
March 2009
Rig experienced approximately three days of February downtime.
                           
Total
Low 260s
August 2010
  
Rowan Gorilla IV
     200-C     450     35,000  
1986
Gulf of Mexico
McMoRan
Mid 190s
June 2008
  
Rowan Gorilla III
     200-C     450     30,000  
1984
Trinidad
Petro-Canada
Low 250s
May 2008
  
                         
Eastern Canada
EnCana
High 290s
December 2009
Contract is expected to start in mid to late 2009, and Rowan has the right to utilize Gorilla II.
                                 
Day rate includes estimated amortization of related mobilization/modification revenues.
Rowan Gorilla II
     200-C     450     30,000  
1984
Gulf of Mexico
Devon
Mid 170s
April 2008
  
Rowan-California
     116-C     300     30,000  
1983
Middle East
Saudi Aramco
Mid 110s
April 2009
  
Cecil Provine
     116-C     300     30,000  
1982
Gulf of Mexico
Apache
Mid 80s
April 2008
  
Gilbert Rowe
     116-C     350     30,000  
1981
Middle East
Maersk
Low 190s
January 2009
Rig experienced approximately three days of February downtime.
Arch Rowan
     116-C     350     30,000  
1981
Middle East
Saudi Aramco
Mid 110s
April 2009
  
Charles Rowan
     116-C     350     30,000  
1981
Middle East
Saudi Aramco
Mid 110s
April 2009
  
Rowan-Paris
     116-C     350     30,000  
1980
Middle East
Maersk
Low 190s
January 2009
  
Rowan-Middletown
     116-C     350     30,000  
1980
Middle East
Saudi Aramco
Mid 110s
April 2009
  
Conventional Jack-up Rigs:
                                
Rowan-Juneau
     116     300     30,000  
1977
Gulf of Mexico
Helix ERT
Mid 60s
April 2008
  
                           
Apache
Mid 70s
September 2008
  
Rowan-Alaska
     84     350     30,000  
1975
Gulf of Mexico
Stone Energy
Mid 90s
April 2008
  
Rowan-Louisiana
     84     350     30,000  
1975
Gulf of Mexico
Helix ERT
Mid 90s
May 2008
  
Rowan-Anchorage
     52     250     20,000  
1972
Gulf of Mexico
Walter O&G
Low 60s
May 2008
  
Rig Class denotes LeTourneau, Inc. hull number. 200-C is a Gorilla class unit designed for extreme hostile environment capability. 219-C is a Super Gorilla class unit, an enhanced version of the Gorilla class, and 224-C is a Super Gorilla XL design. 225-C is a Tarzan Class unit.  240-C is LeTourneau's latest jack-up design.  Unless otherwise indicated, all day rates include estimated amortization of contract mobilization/modification revenues.  Estimated contract durations reflect either stated drilling periods or expected time required for the contracted well or wells.
 
ROWAN HEREBY ADVISES THAT THE TABLE SET FORTH ABOVE MAY CONTAIN INACCURATE, INCOMPLETE AND/OR INCORRECT INFORMATION AND IS SUBJECT TO CHANGE AT ANY TIME.
THE INFORMATION SHOULD NOT BE RELIED UPON FOR ANY PURPOSE, AND ROWAN HEREBY DISCLAIMS ANY LIABILITY RELATING TO THE USE OF THE INFORMATION SET FORTH ABOVE.
 
This report contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs and future expected financial performance of the Company that are based on current expectations and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected by the Company. Relevant factors have been disclosed in the Company's filiings with the U. S. Securities and Exchange Commission.