-----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, JTL4/tusPgGIhslixeBSkVNIXVgoqWPuKNDfsV7Wt4ifSkkiq0HHUEZMc9K+l59B idYdQ4PbIc6TwEG+osHeeA== 0000909518-03-000380.txt : 20030611 0000909518-03-000380.hdr.sgml : 20030611 20030611140245 ACCESSION NUMBER: 0000909518-03-000380 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030610 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030611 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIAMOND OFFSHORE DRILLING INC CENTRAL INDEX KEY: 0000949039 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 760321760 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13926 FILM NUMBER: 03740454 BUSINESS ADDRESS: STREET 1: 15415 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77094 BUSINESS PHONE: 7134925300 MAIL ADDRESS: STREET 1: 15415 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77094 8-K 1 jd6-11_8k.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report: JUNE 11, 2003 ----------------------------------------------------------------- Date of earliest event reported: JUNE 10, 2003 ------------------------------------------------ DIAMOND OFFSHORE DRILLING, INC. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) DELAWARE 1-13926 76-0321760 - -------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 15415 KATY FREEWAY, HOUSTON, TEXAS 77094 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (281) 492-5300 ---------------------------- NOT APPLICABLE - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) INFORMATION TO BE INCLUDED IN THE REPORT ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS ------------------------------------------------------------------ (c) Exhibits. Exhibit number Description -------------- ----------- 99.1 Rig Status Report as of June 10, 2003 ITEM 9. REGULATION FD DISCLOSURE ------------------------ The Registrant hereby incorporates by reference into this Item 9 the summary report of the status, as of June 10, 2003, of the offshore drilling rigs of the Registrant attached as Exhibit 99.1, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be filed. Statements in this report that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, include, but are not limited to, statements regarding the current term, start and end dates and comments concerning future contracts and availability and other aspects of the Registrant's drilling rigs. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those anticipated or projected. A discussion of the risk factors that could impact these areas and the Registrant's overall business and financial performance can be found in the Registrant's reports and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, casualty losses, industry fleet capacity, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations, customer preferences and various other matters, many of which are beyond the Registrant's control. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the rig status report, and the Registrant undertakes no obligation to publicly update or revise any forward-looking statements. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIAMOND OFFSHORE DRILLING, INC. By: /s/ William C. Long ----------------------------------- William C. Long Vice President, General Counsel & Secretary Dated: June 11, 2003 3 EXHIBIT INDEX Exhibit number Description -------------- ----------- 99.1 Rig Status Report as of June 10, 2003 4 EX-99 3 jd6-11_rigs.txt 99.1 Exhibit 99.1 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JUNE 10, 2003
RATED RIG NAME WATER DEPTH DESIGN LOCATION STATUS* OPERATOR - -------------------------------------------------------------------------------------------------------------------- DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - -------------------------------------------------------------------------------------------------------------------- Ocean Quest 3,500' Victory Class GOM Contracted Murphy - -------------------------------------------------------------------------------------------------------------------- Ocean Star 5,500' Victory Class GOM Contracted Kerr McGee - -------------------------------------------------------------------------------------------------------------------- Ocean America 5,500' Ocean Odyssey GOM Contracted Devon - -------------------------------------------------------------------------------------------------------------------- Ocean Valiant 5,500' Ocean Odyssey GOM Contracted Devon - -------------------------------------------------------------------------------------------------------------------- Ocean Victory 5,500' Victory Class GOM Contracted Kerr McGee - -------------------------------------------------------------------------------------------------------------------- Ocean Confidence 7,500' DP Aker H-3.2 Modified GOM Contracted BP - -------------------------------------------------------------------------------------------------------------------- DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5) - -------------------------------------------------------------------------------------------------------------------- Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX - -------------------------------------------------------------------------------------------------------------------- Ocean Concord 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas - -------------------------------------------------------------------------------------------------------------------- Ocean Lexington 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas - -------------------------------------------------------------------------------------------------------------------- Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted Devon - -------------------------------------------------------------------------------------------------------------------- Ocean Worker 3,500' F&G 9500 Enhanced GOM Contracted LLOG Pacesetter - -------------------------------------------------------------------------------------------------------------------- DOMESTIC JACKUPS (11) - -------------------------------------------------------------------------------------------------------------------- Ocean Crusader 200' Mat Cantilever GOM Contracted Walter Oil & Gas - -------------------------------------------------------------------------------------------------------------------- Ocean Drake 200' Mat Cantilever GOM Contracted ChevronTexaco - -------------------------------------------------------------------------------------------------------------------- Ocean Columbia 250' Independent Leg Cantilever GOM Contracted Noble Energy - -------------------------------------------------------------------------------------------------------------------- Ocean Spartan 300' Independent Leg Cantilever GOM Contracted Noble Energy - -------------------------------------------------------------------------------------------------------------------- Ocean Spur 300' Independent Leg Cantilever GOM Contracted ADTI/American Coastal - -------------------------------------------------------------------------------------------------------------------- Ocean King 300' Independent Leg Cantilever GOM Contracted BP America - -------------------------------------------------------------------------------------------------------------------- Ocean Nugget 300' Independent Leg Cantilever GOM Contracted Taylor Energy - -------------------------------------------------------------------------------------------------------------------- Ocean Summit 300' Independent Leg Cantilever GOM Contracted Hunt Petroleum - -------------------------------------------------------------------------------------------------------------------- Ocean Warwick 300' Independent Leg Cantilever GOM Contracted BP America - -------------------------------------------------------------------------------------------------------------------- Ocean Titan 350' Independent Leg Slot GOM Shipyard for - cantilever upgrade - -------------------------------------------------------------------------------------------------------------------- Ocean Tower 350' Independent Leg Cantilever GOM Contracted Ridgelake Energy - -------------------------------------------------------------------------------------------------------------------- 1 RATED RIG NAME WATER DEPTH DESIGN LOCATION STATUS* OPERATOR - -------------------------------------------------------------------------------------------------------------------- INTERNATIONAL SEMISUBMERSIBLES (15) - -------------------------------------------------------------------------------------------------------------------- AFRICA - ------ - -------------------------------------------------------------------------------------------------------------------- Ocean Patriot 1,500' Bingo 3000 South Africa Contracted Pioneer - -------------------------------------------------------------------------------------------------------------------- Ocean Whittington 1,500' Aker H-3 Ghana Contracted PEMEX - -------------------------------------------------------------------------------------------------------------------- NORTH SEA - --------- - -------------------------------------------------------------------------------------------------------------------- Ocean Nomad 1,200' Aker H-3 North Sea Special Survey - - -------------------------------------------------------------------------------------------------------------------- Ocean Guardian 1,500' Earl & Wright Sedco North Sea Contracted Shell 711 Series - -------------------------------------------------------------------------------------------------------------------- Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman - -------------------------------------------------------------------------------------------------------------------- Ocean Vanguard 1,500' Bingo 3000 North Sea _ _ - -------------------------------------------------------------------------------------------------------------------- AUSTRALASIA - ----------- - -------------------------------------------------------------------------------------------------------------------- Ocean Bounty 1,500' Victory Class Australia Contracted OMV - -------------------------------------------------------------------------------------------------------------------- Ocean Epoch 1,640' Korkut Australia Idle - - -------------------------------------------------------------------------------------------------------------------- Ocean General 1,640' Korkut Vietnam Contracted PetroVietnam - -------------------------------------------------------------------------------------------------------------------- Ocean Baroness 7,000' Victory Class Indonesia Contracted Unocal - -------------------------------------------------------------------------------------------------------------------- Ocean Rover 7,000' Victory Class Singapore Shipyard Upgrade - - -------------------------------------------------------------------------------------------------------------------- BRAZIL - ------ - -------------------------------------------------------------------------------------------------------------------- Ocean Yorktown 2,850' F&G SS-2000 Brazil Contracted Shell - -------------------------------------------------------------------------------------------------------------------- Ocean Yatzy 3,300' DP DYVI Super Yatzy Brazil Contracted Petrobras - -------------------------------------------------------------------------------------------------------------------- Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras - -------------------------------------------------------------------------------------------------------------------- Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras - -------------------------------------------------------------------------------------------------------------------- INTERNATIONAL DRILLSHIPS (1) - -------------------------------------------------------------------------------------------------------------------- Ocean Clipper 7,500' DP Fluor/Mitsubishi Brazil Contracted Petrobras - -------------------------------------------------------------------------------------------------------------------- INTERNATIONAL JACKUPS (2) - -------------------------------------------------------------------------------------------------------------------- Ocean Sovereign 250' Independent Leg Cantilever Indonesia Idle - - -------------------------------------------------------------------------------------------------------------------- Ocean Heritage 300' Independent Leg Cantilever Indonesia Contracted CNOOC - -------------------------------------------------------------------------------------------------------------------- 2 RATED RIG NAME WATER DEPTH DESIGN LOCATION STATUS* OPERATOR - -------------------------------------------------------------------------------------------------------------------- COLD STACKED (7) - -------------------------------------------------------------------------------------------------------------------- Ocean Liberator 600' Aker H-3 S. Africa Cold Stacked - - -------------------------------------------------------------------------------------------------------------------- Ocean Century 800' Korkut GOM Cold Stacked - - -------------------------------------------------------------------------------------------------------------------- Ocean Prospector 1,700' Victory Class GOM Cold Stacked - - -------------------------------------------------------------------------------------------------------------------- Ocean Champion 250' Mat Slot GOM Cold Stacked - - -------------------------------------------------------------------------------------------------------------------- Ocean Endeavor 2,000' Victory Class GOM Cold Stacked - - -------------------------------------------------------------------------------------------------------------------- Ocean Voyager 3,200' Victory Class GOM Cold Stacked - - -------------------------------------------------------------------------------------------------------------------- Ocean New Era 1,500' Korkut GOM Cold Stacked - - --------------------------------------------------------------------------------------------------------------------
NOTES: * ASSUME 95-98% UTILIZATION RATE DURING CONTRACTED PERIODS TO ALLOW FOR NORMAL EQUIPMENT REPAIR DOWNTIME GOM = Gulf of Mexico ** TABLE CONTINUED ** 3
RIG NAME CURRENT TERM DAYRATE (000s) START DATE - ------------------------------------------------------------------------------------------------- DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - ------------------------------------------------------------------------------------------------- Ocean Quest one well, swap to low 80's Jan-03 complete Valiant contract - ------------------------------------------------------------------------------------------------- Ocean Star nine month term work mid 80's early March 2003 - ------------------------------------------------------------------------------------------------- Ocean America one well upper 60's mid October 2002 - ------------------------------------------------------------------------------------------------- Ocean Valiant one well upper 50's late April 2003 - ------------------------------------------------------------------------------------------------- Ocean Victory one well plus option low 60's late May 2003 - ------------------------------------------------------------------------------------------------- Ocean Confidence five-year term 170's early January 2001 - ------------------------------------------------------------------------------------------------- DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5) - ------------------------------------------------------------------------------------------------- Ocean Ambassador four year term work upper 50's late July 2003 - ------------------------------------------------------------------------------------------------- Ocean Concord one well plus option upper 30's late April 2003 - ------------------------------------------------------------------------------------------------- Ocean Lexington first of two wells upper 30's early May 2003 - ------------------------------------------------------------------------------------------------- Ocean Saratoga one well plus option low 40's mid May 2003 - ------------------------------------------------------------------------------------------------- Ocean Worker one well mid 40's late April 2003 - ------------------------------------------------------------------------------------------------- DOMESTIC JACKUPS (11) - ------------------------------------------------------------------------------------------------- Ocean Crusader second of two wells low 20's early June 2003 - ------------------------------------------------------------------------------------------------- Ocean Drake 12 months high teens late August 2002 - ------------------------------------------------------------------------------------------------- Ocean Columbia one well plus option mid 20's early June 2003 - ------------------------------------------------------------------------------------------------- Ocean Spartan one well plus option low 20's mid May 2003 - ------------------------------------------------------------------------------------------------- Ocean Spur one well mid 20's late May 2003 - ------------------------------------------------------------------------------------------------- Ocean King multiple wells mid 20's early April 2003 - ------------------------------------------------------------------------------------------------- Ocean Nugget sixth of seven wells plus mid 20's mid March 2003 option - ------------------------------------------------------------------------------------------------- Ocean Summit two wells low 20's mid May 2003 - ------------------------------------------------------------------------------------------------- Ocean Warwick multiple wells mid 20's mid April 2003 - ------------------------------------------------------------------------------------------------- Ocean Titan - - - - ------------------------------------------------------------------------------------------------- Ocean Tower two wells upper 20's mid May 2003 - ------------------------------------------------------------------------------------------------- 1 RIG NAME CURRENT TERM DAYRATE (000S) START DATE - ------------------------------------------------------------------------------------------------- INTERNATIONAL SEMISUBMERSIBLES (15) - ------------------------------------------------------------------------------------------------- AFRICA - ------ - ------------------------------------------------------------------------------------------------- Ocean Patriot second of three wells upper 50's early April 2003 - ------------------------------------------------------------------------------------------------- Ocean Whittington four year term work low 60's late July 2003 - ------------------------------------------------------------------------------------------------- NORTH SEA - --------- - ------------------------------------------------------------------------------------------------- Ocean Nomad - - late January 2003 - ------------------------------------------------------------------------------------------------- Ocean Guardian one year plus one year low 50's early April 2003 option - ------------------------------------------------------------------------------------------------- Ocean Princess two wells plus option low 40's late May 2003 - ------------------------------------------------------------------------------------------------- Ocean Vanguard _ _ _ - ------------------------------------------------------------------------------------------------- AUSTRALASIA - ----------- - ------------------------------------------------------------------------------------------------- Ocean Bounty one well lower 70's mid May 2003 - ------------------------------------------------------------------------------------------------- Ocean Epoch - - early February 2003 - ------------------------------------------------------------------------------------------------- Ocean General First of three wells mid 50's mid May 2003 - ------------------------------------------------------------------------------------------------- Ocean Baroness 400 days plus option 110's late March 2003 - ------------------------------------------------------------------------------------------------- Ocean Rover - - early January 2002 - ------------------------------------------------------------------------------------------------- BRAZIL - ------ - ------------------------------------------------------------------------------------------------- Ocean Yorktown 15-well development plus low 60's mid September 2001 option - ------------------------------------------------------------------------------------------------- Ocean Yatzy five-year term plus option 120's early November 1998 - ------------------------------------------------------------------------------------------------- Ocean Winner one year extension low 60's early November 2002 - ------------------------------------------------------------------------------------------------- Ocean Alliance four-year contract 110's early September 2000 - ------------------------------------------------------------------------------------------------- INTERNATIONAL DRILLSHIPS (1) - ------------------------------------------------------------------------------------------------- Ocean Clipper one-year extension 100's mid February 2003 - ------------------------------------------------------------------------------------------------- INTERNATIONAL JACKUPS (2) - ------------------------------------------------------------------------------------------------- Ocean Sovereign - - early June 2003 - ------------------------------------------------------------------------------------------------- Ocean Heritage 12 month term program upper 40's late December 2002 - ------------------------------------------------------------------------------------------------- 2 RIG NAME CURRENT TERM DAYRATE (000S) START DATE - ------------------------------------------------------------------------------------------------- COLD STACKED (7) - ------------------------------------------------------------------------------------------------- Ocean Liberator - - - - ------------------------------------------------------------------------------------------------- Ocean Century - - - - ------------------------------------------------------------------------------------------------- Ocean Prospector - - - - ------------------------------------------------------------------------------------------------- Ocean Champion - - - - ------------------------------------------------------------------------------------------------- Ocean Endeavor - - - - ------------------------------------------------------------------------------------------------- Ocean Voyager - - - - ------------------------------------------------------------------------------------------------- Ocean New Era - - - - -------------------------------------------------------------------------------------------------
NOTES: * ASSUME 95-98% UTILIZATION RATE DURING CONTRACTED PERIODS TO ALLOW FOR NORMAL EQUIPMENT REPAIR DOWNTIME GOM = Gulf of Mexico ** TABLE CONTINUED ** 3
RIG NAME ESTIMATED END DATE FUTURE CONTRACT AND OTHER INFORMATION - ---------------------------------------------------------------------------------------------------- DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - ---------------------------------------------------------------------------------------------------- Ocean Quest mid June 2003 One well with Murphy in GOM in low 50's beginning in mid June and ending in late July 2003. - ---------------------------------------------------------------------------------------------------- Ocean Star mid September 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean America late June 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Valiant early July 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Victory early July 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Confidence early January 2006 available. - ---------------------------------------------------------------------------------------------------- DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5) - ---------------------------------------------------------------------------------------------------- Ocean Ambassador mid December 2007 Preparing for PEMEX work - ---------------------------------------------------------------------------------------------------- Ocean Concord mid June 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Lexington early June 2003 Two wells plus option with Walter in GOM in upper 30's beginning early May and ending late June 2003. - ---------------------------------------------------------------------------------------------------- Ocean Saratoga mid June 2003 One well with Westport in GOM in upper 30's beginning in mid June 2003 and ending in late July 2003. - ---------------------------------------------------------------------------------------------------- Ocean Worker early July 2003 Prepare for PEMEX contract work beginning late July; four year term work in GOM in upper 60' s ending in late July 2007. - ---------------------------------------------------------------------------------------------------- DOMESTIC JACKUPS (11) - ---------------------------------------------------------------------------------------------------- Ocean Crusader mid July 2003 Two additional wells plus option with Walter in GOM in lower 20's beginning mid July and ending late August 2003. - ---------------------------------------------------------------------------------------------------- Ocean Drake late August 2003 Rig currently scheduled for 30-day downtime during current contract for survey beginning late 2nd Qtr. - ---------------------------------------------------------------------------------------------------- Ocean Columbia early July 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Spartan mid July 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Spur late June 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean King mid July 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Nugget late August 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Summit mid July 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Warwick mid July 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Titan - Cantilever upgrade ending late October 2003. - ---------------------------------------------------------------------------------------------------- Ocean Tower early July 2003 available - ---------------------------------------------------------------------------------------------------- 1 RIG NAME ESTIMATED END DATE FUTURE CONTRACT AND OTHER INFORMATION - ---------------------------------------------------------------------------------------------------- INTERNATIONAL SEMISUBMERSIBLES (15) - ---------------------------------------------------------------------------------------------------- AFRICA - ------ - ---------------------------------------------------------------------------------------------------- Ocean Patriot early September 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Whittington early October 2006 Preparing for PEMEX contract; currently under tow from Ghana. - ---------------------------------------------------------------------------------------------------- NORTH SEA - --------- - ---------------------------------------------------------------------------------------------------- Ocean Nomad - Special survey ending mid June 2003; then available. - ---------------------------------------------------------------------------------------------------- Ocean Guardian late March 2004 available - ---------------------------------------------------------------------------------------------------- Ocean Princess early August 2003 available - ---------------------------------------------------------------------------------------------------- Ocean Vanguard _ Survey complete July 2003; then available - ---------------------------------------------------------------------------------------------------- AUSTRALASIA - ----------- - ---------------------------------------------------------------------------------------------------- Ocean Bounty mid June 2003 Three plus two well program with Inpex in Australia in lower 70's beginning mid June and ending late January 2004. - ---------------------------------------------------------------------------------------------------- Ocean Epoch - available. - ---------------------------------------------------------------------------------------------------- Ocean General late August 2003 Three wells plus option with Petro Vietnam in Viet Nam in mid 50's beginning in late August and ending in late January 2004. - ---------------------------------------------------------------------------------------------------- Ocean Baroness early May 2004 available. - ---------------------------------------------------------------------------------------------------- Ocean Rover - Upgrade estimated completion early 3rd Qtr. 2003, followed by LOI for 3 well program with Murphy in Malaysia in 110's ending late November 2003. - ---------------------------------------------------------------------------------------------------- BRAZIL - ------ - ---------------------------------------------------------------------------------------------------- Ocean Yorktown mid June 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Yatzy early November 2003 available. - ---------------------------------------------------------------------------------------------------- Ocean Winner early November 2003 Scheduled for survey in 3rd Qtr. Estimated downtime 60 days. - ---------------------------------------------------------------------------------------------------- Ocean Alliance early September 2004 Scheduled for survey in 4th Qtr. Estimated downtime 60 days. - ---------------------------------------------------------------------------------------------------- INTERNATIONAL DRILLSHIPS (1) - ---------------------------------------------------------------------------------------------------- Ocean Clipper early January 2004 available. - ---------------------------------------------------------------------------------------------------- INTERNATIONAL JACKUPS (2) - ---------------------------------------------------------------------------------------------------- Ocean Sovereign - available - ---------------------------------------------------------------------------------------------------- Ocean Heritage mid September 2003 available. - ---------------------------------------------------------------------------------------------------- 2 RIG NAME ESTIMATED END DATE FUTURE CONTRACT AND OTHER INFORMATION - ---------------------------------------------------------------------------------------------------- COLD STACKED (7) - ---------------------------------------------------------------------------------------------------- Ocean Liberator - Cold stacked Nov. '02 - ---------------------------------------------------------------------------------------------------- Ocean Century - Cold stacked July '98 - ---------------------------------------------------------------------------------------------------- Ocean Prospector - Cold stacked Oct. '99 - ---------------------------------------------------------------------------------------------------- Ocean Champion - Cold Stacked Feb. '02 - ---------------------------------------------------------------------------------------------------- Ocean Endeavor - Cold stacked March '02 - ---------------------------------------------------------------------------------------------------- Ocean Voyager - Cold stacked March '02 - ---------------------------------------------------------------------------------------------------- Ocean New Era - Cold stacked Dec. '02 - ----------------------------------------------------------------------------------------------------
NOTES: * ASSUME 95-98% UTILIZATION RATE DURING CONTRACTED PERIODS TO ALLOW FOR NORMAL EQUIPMENT REPAIR DOWNTIME GOM = Gulf of Mexico ** TABLE COMPLETE ** 3 -----END PRIVACY-ENHANCED MESSAGE-----