-----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, Opzq6HYvxG8YSY/WK5s6CtC6TJBd0v2XpVmF9vMvYKOYfbNPUemTn1vyYy5rswqK +lbokuibdF+48D1HKUcqlw== 0000909518-04-000084.txt : 20040203 0000909518-04-000084.hdr.sgml : 20040203 20040203140017 ACCESSION NUMBER: 0000909518-04-000084 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040202 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040203 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: 04562196 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 jd2-3_8k.txt UNITED STATES 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 (Date of earliest event reported): FEBRUARY 2, 2004 ---------------------------- 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 and 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 February 2, 2004 ITEM 9. REGULATION FD DISCLOSURE ------------------------ The Registrant hereby incorporates by reference into this Item 9 the summary report of the status, as of February 2, 2004, 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: February 3, 2004 3 EXHIBIT INDEX Exhibit number Description -------------- ----------- 99.1 Rig Status Report as of February 2, 2004 4 EX-99 3 jd2-3ex99_1.txt 99.1 EXHIBIT 99.1 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 2, 2004
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR - -------------------------------------------------------------------------------------------------------------- DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - -------------------------------------------------------------------------------------------------------------- Ocean Quest 3,500' Victory Class GOM Contracted Noble Energy - -------------------------------------------------------------------------------------------------------------- Ocean Star 5,500' Victory Class GOM Idle DODI - -------------------------------------------------------------------------------------------------------------- Ocean America 5,500' Ocean Odyssey GOM Contracted W&T Offshore - -------------------------------------------------------------------------------------------------------------- Ocean Valiant 5,500' Ocean Odyssey GOM Contracted ENI - -------------------------------------------------------------------------------------------------------------- Ocean Victory 5,500' Victory Class GOM Contracted Spinnaker Exploration - -------------------------------------------------------------------------------------------------------------- Ocean Confidence 7,500' DP Aker H-3.2 GOM Contracted BP Modified - -------------------------------------------------------------------------------------------------------------- DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3) - -------------------------------------------------------------------------------------------------------------- Ocean Concord 2,200' F&G SS-2000 GOM Idle DODI - -------------------------------------------------------------------------------------------------------------- Ocean Lexington 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas - -------------------------------------------------------------------------------------------------------------- Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG - -------------------------------------------------------------------------------------------------------------- DOMESTIC JACKUPS (11) - -------------------------------------------------------------------------------------------------------------- Ocean Crusader 200' Mat Cantilever GOM Contracted Stone Energy - -------------------------------------------------------------------------------------------------------------- Ocean Drake 200' Mat Cantilever GOM Contracted Callon Petroleum - -------------------------------------------------------------------------------------------------------------- Ocean Columbia 250' Independent Leg GOM Contracted ADTI/Helis Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Spartan 300' Independent Leg GOM Contracted LLOG Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Spur 300' Independent Leg GOM Contracted Forest Oil Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean King 300' Independent Leg GOM Contracted BP America Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Nugget 300' Independent Leg GOM Contracted Taylor Energy Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Summit 300' Independent Leg GOM Contracted Chevron/Texaco Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Warwick 300' Independent Leg GOM Contracted Murphy Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Titan 350' Independent Leg Slot GOM Contracted Chevron/Texaco - -------------------------------------------------------------------------------------------------------------- Ocean Tower 350' Independent Leg GOM Contracted Denbury Cantilever - -------------------------------------------------------------------------------------------------------------- 1 - -------------------------------------------------------------------------------------------------------------- INTERNATIONAL SEMISUBMERSIBLES (17) - -------------------------------------------------------------------------------------------------------------- MEXICO - -------------------------------------------------------------------------------------------------------------- Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX - -------------------------------------------------------------------------------------------------------------- Ocean Whittington 1,500' Aker H-3 GOM Contracted PEMEX - -------------------------------------------------------------------------------------------------------------- Ocean Worker 3,500' F&G 9500 Enhanced GOM Contracted PEMEX Pacesetter - -------------------------------------------------------------------------------------------------------------- Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- AFRICA - -------------------------------------------------------------------------------------------------------------- Ocean Patriot 1,500' Bingo 3000 South Africa Idle DODI - -------------------------------------------------------------------------------------------------------------- NORTH SEA - -------------------------------------------------------------------------------------------------------------- Ocean Nomad 1,200' Aker H-3 Mobe to Contracted Premier Guinea Bissau - -------------------------------------------------------------------------------------------------------------- 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 Idle DODI - -------------------------------------------------------------------------------------------------------------- AUSTRALASIA - -------------------------------------------------------------------------------------------------------------- Ocean Bounty 1,500' Victory Class Australia Contracted Inpex - -------------------------------------------------------------------------------------------------------------- Ocean Epoch 1,640' Korkut Australia Contracted Santos - -------------------------------------------------------------------------------------------------------------- Ocean General 1,640' Korkut Vietnam Contracted P.V.E&P - -------------------------------------------------------------------------------------------------------------- Ocean Baroness 7,000' Victory Class Indonesia Contracted Unocal - -------------------------------------------------------------------------------------------------------------- Ocean Rover 7,000' Victory Class Singapore Contracted Murphy - -------------------------------------------------------------------------------------------------------------- 2 BRAZIL - -------------------------------------------------------------------------------------------------------------- Ocean Yatzy 3,300' DP DYVI Super Yatzy Brazil Contracted Petrobras - -------------------------------------------------------------------------------------------------------------- Ocean Winner 3,500' Aker H-3 Brazil Idle DODI - -------------------------------------------------------------------------------------------------------------- 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 Indonesia Contracted Santos Cantilever - -------------------------------------------------------------------------------------------------------------- Ocean Heritage 300' Independent Leg Mobe to Ecuador Contracted Noble Energy Cantilever - -------------------------------------------------------------------------------------------------------------- COLD STACKED (5) - -------------------------------------------------------------------------------------------------------------- Ocean Liberator 600' Aker H-3 S. Africa Cold Stacked DODI - -------------------------------------------------------------------------------------------------------------- Ocean Champion 250' Mat Slot GOM Cold Stacked DODI - -------------------------------------------------------------------------------------------------------------- Ocean Endeavor 2,000' Victory Class GOM Cold Stacked DODI - -------------------------------------------------------------------------------------------------------------- Ocean Voyager 3,200' Victory Class GOM Cold Stacked DODI - -------------------------------------------------------------------------------------------------------------- Ocean New Era 1,500' Korkut GOM Cold Stacked DODI - -------------------------------------------------------------------------------------------------------------- NOTES: * ASSUME 95-98% UTILIZATION RATE DURING CONTRACTED PERIODS TO ALLOW FOR NORMAL EQUIPMENT REPAIR DOWNTIME. GOM = Gulf of Mexico
** TABLE CONTINUED ** 3 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 2, 2004
RIG NAME CURRENT TERM DAYRATE (000S) START DATE - --------------------------------------------------------------------------------- DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - --------------------------------------------------------------------------------- Ocean Quest one well plus option high 40's late Dec. 2003 - --------------------------------------------------------------------------------- Ocean Star - - - - --------------------------------------------------------------------------------- Ocean America one well extension plus mid 60's late Nov. 2003 option - --------------------------------------------------------------------------------- Ocean Valiant three wells plus option high 50's late Dec. 2003 - --------------------------------------------------------------------------------- Ocean Victory one well low 40s late Nov. 2003 - --------------------------------------------------------------------------------- Ocean Confidence five-year term 170's early Jan. 2001 - --------------------------------------------------------------------------------- DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3) - --------------------------------------------------------------------------------- Ocean Concord - - - - --------------------------------------------------------------------------------- Ocean Lexington first of two wells plus high 30's late Nov. 2003 option - --------------------------------------------------------------------------------- Ocean Saratoga one well plus option low 40's late Jan. 2004 - --------------------------------------------------------------------------------- DOMESTIC JACKUPS (11) - --------------------------------------------------------------------------------- Ocean Crusader one well plus option mid 20's late Dec. 2003 - --------------------------------------------------------------------------------- Ocean Drake one well high 20's mid Jan. 2004 - --------------------------------------------------------------------------------- Ocean Columbia one well high 20's late Dec. 2003 - --------------------------------------------------------------------------------- Ocean Spartan one well plus option high 20's late Nov. 2003 - --------------------------------------------------------------------------------- Ocean Spur two wells plus option low 30's late Jan. 2004 - --------------------------------------------------------------------------------- Ocean King one well plus option high 30's mid Jan. 2004 - --------------------------------------------------------------------------------- Ocean Nugget six month extension plus low 30's mid Jan. 2004 option - --------------------------------------------------------------------------------- Ocean Summit two wells plus option mid 30's mid Jan. 2004 - --------------------------------------------------------------------------------- Ocean Warwick one well plus option high 20's late Sept. 2003 - --------------------------------------------------------------------------------- Ocean Titan one well low 50's mid Jan. 2004 - --------------------------------------------------------------------------------- Ocean Tower fourth of four wells plus mid 30's late Aug. 2003 option - --------------------------------------------------------------------------------- 1 - --------------------------------------------------------------------------------- INTERNATIONAL SEMISUBMERSIBLES (17) - --------------------------------------------------------------------------------- MEXICO - --------------------------------------------------------------------------------- Ocean Ambassador four year term work mid 50's late July 2003 - --------------------------------------------------------------------------------- Ocean Whittington four year term work low 60's late July 2003 - --------------------------------------------------------------------------------- Ocean Worker four year term work high 60's mid Aug. 2003 - --------------------------------------------------------------------------------- Ocean Yorktown four year term work mid 40's late Oct. 2003 - --------------------------------------------------------------------------------- - --------------------------------------------------------------------------------- AFRICA - --------------------------------------------------------------------------------- Ocean Patriot - - - - --------------------------------------------------------------------------------- NORTH SEA - --------------------------------------------------------------------------------- Ocean Nomad one well high 40's mid Feb. 2004 - --------------------------------------------------------------------------------- Ocean Guardian one year low 50's early April 2003 - --------------------------------------------------------------------------------- Ocean Princess first option declared plus low 40's mid Nov. 2003 option - --------------------------------------------------------------------------------- Ocean Vanguard _ _ _ - --------------------------------------------------------------------------------- AUSTRALASIA - --------------------------------------------------------------------------------- Ocean Bounty third of three wells low 70's mid June 2003 - --------------------------------------------------------------------------------- Ocean Epoch Exeter/Mutineer mid 60's mid Jan. 2004 development plus option - --------------------------------------------------------------------------------- Ocean General one option well mid 50's late Jan. 2004 - --------------------------------------------------------------------------------- Ocean Baroness 400 days plus option 110's late March 2003 - --------------------------------------------------------------------------------- Ocean Rover Second of four option wells 110s late Dec. 2003 - --------------------------------------------------------------------------------- 2 BRAZIL - --------------------------------------------------------------------------------- Ocean Yatzy end of primary term Nov. 5, mid 70's early Nov. 1998 2003, completing well - --------------------------------------------------------------------------------- Ocean Winner - - - - --------------------------------------------------------------------------------- Ocean Alliance four-year contract 110's early Sept. 2000 - --------------------------------------------------------------------------------- INTERNATIONAL DRILLSHIPS (1) - --------------------------------------------------------------------------------- Ocean Clipper 700 day extension low 100's early Jan. 2003 - --------------------------------------------------------------------------------- INTERNATIONAL JACKUPS (2) - --------------------------------------------------------------------------------- Ocean Sovereign one well plus two option high 30's mid Nov. 2003 - --------------------------------------------------------------------------------- Ocean Heritage three wells plus options mid 50's mid Jan. 2004 - --------------------------------------------------------------------------------- COLD STACKED (5) - --------------------------------------------------------------------------------- Ocean Liberator - - - - --------------------------------------------------------------------------------- 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 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 2, 2004
RIG NAME EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION - ---------------------------------------------------------------------------------------------------------- DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - ---------------------------------------------------------------------------------------------------------- Ocean Quest late Feb. 2004 available; actively marketing - ---------------------------------------------------------------------------------------------------------- Ocean Star - available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean America mid March 2004 90 day upgrade/survey likely beginning late 1st Qtr 2004; available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Valiant late July 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Victory mid Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Confidence early Jan. 2006 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3) - ---------------------------------------------------------------------------------------------------------- Ocean Concord - special survey thru mid Feb. 2004, available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Lexington mid Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Saratoga early March 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- DOMESTIC JACKUPS (11) - ---------------------------------------------------------------------------------------------------------- Ocean Crusader mid Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Drake mid Feb. 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Columbia late Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Spartan mid Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Spur late March 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean King late March 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Nugget early June 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Summit late Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Warwick mid Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Titan late Feb. 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Tower mid Feb. 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- INTERNATIONAL SEMISUBMERSIBLES (17) - ---------------------------------------------------------------------------------------------------------- MEXICO - ---------------------------------------------------------------------------------------------------------- Ocean Ambassador mid Dec. 2007 available. - ---------------------------------------------------------------------------------------------------------- Ocean Whittington early Oct. 2006 available. - ---------------------------------------------------------------------------------------------------------- Ocean Worker late July 2007 available. - ---------------------------------------------------------------------------------------------------------- Ocean Yorktown mid July 2007 available. - ---------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------- AFRICA - ---------------------------------------------------------------------------------------------------------- Ocean Patriot - available; actively marketing. - ---------------------------------------------------------------------------------------------------------- NORTH SEA - ---------------------------------------------------------------------------------------------------------- Ocean Nomad mid March 2004 Three wells plus option in Gabon with Vaalco/SASOL in high 40s beginning mid March 2004 and ending late July 2004; available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Guardian late March 2004 one year extension with Shell in high 40's beginning late March 2004 and ending late March 2005, available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Princess mid Feb. 2004 Two wells plus option in North Sea with Talisman in mid 40's beginning mid Feb. 2004 and ending mid June 2004; available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Vanguard _ available; actively marketing. - ---------------------------------------------------------------------------------------------------------- AUSTRALASIA - ---------------------------------------------------------------------------------------------------------- Ocean Bounty mid Feb. 2004 Two wells plus two option wells with NZOP in low 70's beginning mid Feb. 2004 and ending early June 2004; available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Epoch mid Nov. 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean General early April 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Baroness early May 2004 available; actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Rover late April 2004 actively marketing. - ---------------------------------------------------------------------------------------------------------- 2 BRAZIL - ---------------------------------------------------------------------------------------------------------- Ocean Yatzy mid Feb. 2004 Scheduled for survey beginning mid 1st Qtr. 2004. Estimated downtime 30 days; 700 day extension in mid 70's beginning in early Nov. 2003 and ending early Oct. 2005; available. - ---------------------------------------------------------------------------------------------------------- Ocean Winner - Undergoing scheduled 60 day survey. Low bidder on 700 day contract; available. - ---------------------------------------------------------------------------------------------------------- Ocean Alliance early Sept. 2004 Scheduled for survey in 1st Qtr. '04 Estimated downtime 60 days. - ---------------------------------------------------------------------------------------------------------- INTERNATIONAL DRILLSHIPS (1) - ---------------------------------------------------------------------------------------------------------- Ocean Clipper mid Dec. 2005 available. - ---------------------------------------------------------------------------------------------------------- INTERNATIONAL JACKUPS (2) - ---------------------------------------------------------------------------------------------------------- Ocean Sovereign early Feb. 2004 Two wells plus two options with Amerada Hess in high 30's beginning early Feb. 2004 and ending early April 2004; available, actively marketing. - ---------------------------------------------------------------------------------------------------------- Ocean Heritage mid July 2004 available, actively marketing. - ---------------------------------------------------------------------------------------------------------- COLD STACKED (5) - ---------------------------------------------------------------------------------------------------------- Ocean Liberator - Cold stacked Nov. '02. - ---------------------------------------------------------------------------------------------------------- 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-----