-----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, LQGPESxJX7L7jW4tdy6dhKR/x21U5Dy1vUmot6BuNVtxodCU1vMdI3BHT7gF4HEA hXd+YwoR15QRtrortPFp1w== 0000950129-05-008308.txt : 20050816 0000950129-05-008308.hdr.sgml : 20050816 20050815202318 ACCESSION NUMBER: 0000950129-05-008308 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050815 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050816 DATE AS OF CHANGE: 20050815 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: 051028898 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 h28109e8vk.txt DIAMOND OFFSHORE DRILLING, INC. 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): AUGUST 15, 2005 ------------------------------ 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) Check the appropriate line below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 7.01. REGULATION FD DISCLOSURE The Registrant hereby incorporates by reference into this Item 7.01 the summary report of the status, as of August 15, 2005, of the offshore drilling rigs of the Registrant (except as otherwise noted) 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, as well as statements concerning the Garden Banks drilling rig and its pending purchase by the Registrant. 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. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. Exhibit number Description -------------- ----------- 99.1 Rig Status Report as of August 15, 2005 2 SIGNATURES 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. Diamond Offshore Drilling, Inc. By: /s/ William C. Long ------------------------------- William C. Long Vice President, General Counsel and Secretary Dated: August 15, 2005 3 EXHIBIT INDEX
Exhibit number Description - -------------- ----------- 99.1 Rig Status Report as of August 15, 2005
4 EX-99.1 2 h28109exv99w1.txt RIG STATUS REPORT AS OF AUGUST 15, 2005 . . . EXHIBIT 99.1 1 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF AUGUST 15, 2005
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM DAYRATE DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) (000s) Ocean Quest 3,500' Victory Class GOM Contracted Walter one assignment well from Noble mid 120's Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee 90 day term extension low 140's Ocean America 5,500' Ocean Odyssey GOM Contracted Pioneer three wells low 150's Ocean Valiant 5,500' Ocean Odyssey GOM Contracted Kerr-McGee one well low 130's Ocean Victory 5,500' Victory Class GOM Contracted Shell two wells low 160's Ocean Confidence 7,500' DP Aker H-3.2 Modified GOM Contracted BP five-year term mid 170's DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5) Ocean New Era 1,500' Korkut GOM Reactivating DODI - - Ocean Voyager 2,000' Victory Class GOM Contracted ATP two wells mid 90's Ocean Concord 2,200' F&G SS-2000 GOM Contracted Amerada Hess one well mid 120's Ocean Lexington 2,200' F&G SS-2000 GOM Shipyard DODI - - Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG three wells mid 60's EST. END RIG NAME START DATE DATE FUTURE CONTRACTS AND OTHER INFORMATION DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) Ocean Quest mid June 2005 late Aug. 120 day term plus option with Noble in mid 120's beginning mid June and ending mid 2005 Oct. 2005; followed by six-month term extension plus option in the low 240's beginning in mid Oct. 2005 and ending in mid April 2006. Available; actively marketing. Ocean Star mid July 2005 mid Oct. 12 month extension with Kerr-McGee in mid 170's beginning mid Oct. 2005 and ending 2005 mid Oct. 2006. Available; actively marketing. Ocean America early May 2005 early Nov. Following assignment wells with Pioneer, first of two extension wells with Mariner 2005 in mid 110's beginning early Nov.; followed by one well extension with Mariner in mid 110's beginning early Nov. and ending late Dec. 2005; followed by second well with Mariner in low 130's beginning late Dec. 2005 and ending mid Feb. 2006; followed by one year term plus option with Mariner in low 230's beginning mid Feb. 2006 and ending mid Feb. 2007. Available; actively marketing. Ocean Valiant late June 2005 mid Sept. 180 day term extension with Kerr-McGee in low 150's beginning mid Sept. 2005 and 2005 ending mid Mar. 2006; followed by one-year term extension plus option from Kerr-McGee in low 300,000's beginning in mid Mar. 2006 and ending in mid Mar. 2007. Available; actively marketing. Ocean Victory early June 2005 late Aug. One well with Kerr-McGee in mid 180's beginning late Aug. and ending late Sept.; 2005 followed by one year term with Murphy in low 200's beginning late Sept. 2005 and ending late Sept. 2006. Available; actively marketing. Ocean Confidence early Jan. 2001 early Jan. Two-year term plus option with BP in low 280's beginning early Jan. 2006 and ending 2006 early Jan. 2008. Available; actively marketing. DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5) Ocean New Era - - Est. availability mid Nov. 2005; followed by six-month term with Walter in low 100's for first 30 days and mid 120's for remainder of term beginning mid Nov. 2005 and ending mid May 2006. Available; actively marketing. Ocean Voyager late June 2005 early Sept. One well with Amerada Hess in low 110's beginning early Sept. and ending late Oct.; 2005 followed by LOI for one well in low 110's beginning late Oct. and ending mid Dec.; followed by two wells plus option with Amerada Hess in mid 120's beginning mid Dec. 2005 and ending mid Mar. 2006. Available; actively marketing. Ocean Concord late May 2005 late Aug. One well with Kerr-McGee in mid 70's beginning late Aug. and ending late Nov.; 2005 followed by one assignment well from Kerr-McGee with Woodside in mid 90's beginning late Nov. and ending early Jan. 2006; followed by one well extension plus option with Kerr-McGee in mid 90's beginning early Jan. 2006 and ending mid Feb.; followed by 90-day term plus option with Tana in low 130's beginning mid Feb. and ending mid May 2006; followed by 90-day term extension plus option in low 170's beginning mid May and ending mid Aug. Available; actively marketing. Ocean Lexington - late Sept. Approximately 120-day Survey and maintenance between second and third well, 2005 beginning late May and ending late Sept. Following survey, two additional wells with Walter in low 60's beginning late Sept. and ending late Nov.; followed by LOI for one well in mid 170's beginning in late Nov. 2005 and ending in mid Jan. 2006; followed by one well plus option with Walter in low 80's beginning mid Jan. and ending mid Feb. Available; actively marketing. Ocean Saratoga mid Dec. 2004 early Sept. Two wells plus option with LLOG in low 110's beginning early Sept. 2005 and ending 2005 late Jan. 2006; followed by six month extension with LLOG in low 120's beginning late Jan. 2006 and ending late July 2006. Available; actively marketing.
2 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF AUGUST 15, 2005
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM DAYRATE DOMESTIC JACKUPS(12) (000s) Ocean Crusader 200' Mat Cantilever GOM Contracted Unocal one well high 40's Ocean Drake 200' Mat Cantilever GOM Contracted Chevron term contract low 60's Ocean Champion 250' Mat Slot GOM Contracted Hunt one well mid 40's Independent Leg Ocean Columbia 250' Cantilever GOM Contracted Newfield 180-day term mid 50's Independent Leg Ocean Spartan 300' Cantilever GOM Contracted LLOG three wells plus option high 50's Independent Leg Ocean Spur 300' Cantilever GOM DODI - - - Independent Leg Ocean King 300' Cantilever GOM Contracted El Paso one well extension mid 50's Independent Leg Ocean Nugget 300' Cantilever GOM Contracted Houston Expl. two wells plus option low 50's Independent Leg Ocean Summit 300' Cantilever GOM Contracted LLOG one well extension high 50's Independent Leg Ocean Warwick 300' Cantilever GOM Contracted Chevron 90 day term low 70's Independent Leg Ocean Titan 350' Cantilever GOM Contracted BHP one well plus option mid 50's Independent Leg Ocean Tower 350' Cantilever GOM Contracted Chevron one well mid 50's RIG NAME START DATE EST. END FUTURE CONTRACTS AND OTHER INFORMATION DATE DOMESTIC JACKUPS (12) Ocean Crusader late June 2005 late Aug. Two wells plus option with Seneca in high 40's beginning late Aug. and ending mid 2005 Oct. 2005. Available; actively marketing. Ocean Drake late July 2005 late June Indexed term contract. Available; actively marketing. 2006 Ocean Champion late June 2005 late Aug. Two well extension plus option with Hunt in low 50's beginning late Aug. and 2005 ending late Oct. 2005; followed by LOI for six-month term in mid 50's beginning late Oct. 2005 and ending late April 2006. Available; actively marketing. Ocean Columbia early Aug. 2005 late Jan. Available; actively marketing. 2006 Ocean Spartan late June 2005 late Sept. (Two week survey Q4, 2005). Available; actively marketing. 2005 Ocean Spur - - Maintenance/repairs late June through late Aug. 2005; followed by one well with EOG in mid 60's beginning late Aug. and ending mid Oct. 2005. Available; actively marketing. Ocean King late June 2005 late Aug. One well with El Paso in mid 60's beginning late Aug. and ending early Sept.; 2005 followed by one well extension in low 60's beginning early Sept. and ending mid Sept. 2005; followed by one well with Walter in high 60's beginning mid Sept. and ending mid Oct. 2005. Available; actively marketing. Ocean Nugget mid May 2005 early Sept. One well extension plus option with Houston Exploration in high 60's beginning 2005 early Sept. and ending late Oct. 2005. Available; actively marketing. Ocean Summit late June 2005 late Aug One well extension plus option with LLOG in mid 60's beginning late Aug. and 2005 ending late Sept. 2005. Available; actively marketing. Ocean Warwick late July 2005 early Jan. Indexed term extension. Available; actively marketing. 2006 Ocean Titan late Jan. 2005 late Aug. Three wells with Walter in mid 70's beginning late Aug. and ending late Nov. 2005; 2005 followed by six-month term with Dominion Exploration in high 70's beginning late Nov. 2005 and ending late May 2006. Available; actively marketing. Ocean Tower early Aug. 2005 late Aug. 180-day term extension plus option with Chevron (Part I) in high 60's beginning 2005 late Aug. and ending late Nov.; followed by Part II in high 80's beginning late Nov.2005 and ending late Feb. 2006. Available; actively marketing.
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR 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 Pacesetter GOM Contracted PEMEX Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX NORTH SEA Ocean Nomad 1,200' Aker H-3 North Sea Contracted Talisman Ocean Guardian 1,500' Earl & Wright Sedco 711 Series North Sea Contracted Shell Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted Statoil AUSTRALASIA Ocean Bounty 1,500' Victory Class Australia Contracted ConocoPhillips Ocean Patriot 1,500' Bingo 3000 Australia Contracted Anzon Ocean Epoch 1,640' Korkut Malaysia Contracted Murphy Ocean General 1,640' Korkut Malaysia Contracted CTOC Ocean Baroness 7,000' Victory Class Singapore Shipyard DODI Ocean Rover 7,000' Victory Class Malaysia Contracted Murphy FUTURE CONTRACTS RIG NAME CURRENT TERM DAYRATE (000S) START DATE EST. END DATE AND OTHER INFORMATION INTERNATIONAL SEMISUBMERSIBLES (17) MEXICO Ocean Ambassador four year term work mid 50's late July 2003 mid Dec. 2007 Available. Ocean Whittington four year term work low 60's late July 2003 early Oct. 2006 Available. Ocean Worker four year term work high 60's mid Aug. 2003 late July 2007 Available. Ocean Yorktown four year term work mid 40's late Oct. 2003 mid July 2007 Available. NORTH SEA Ocean Nomad one year low 80's early Jan. 2005 late Jan. 2006 One year extension with Talisman in mid 150's beginning late Jan. 2006 and ending late Jan. 2007. Available; actively marketing. Ocean Guardian one year low 80's late Mar. 2005 late Mar. 2006 One-year term extension plus option with Shell in low 160's beginning late Mar. 2006 and ending late Mar. 2007. (40-day survey Q3, 2005). Available; actively marketing. Ocean Princess one year extension low 80's early Jan. 2005 late Dec. 2005 Two year extension with Talisman plus option in low 150's beginning in late Dec. 2005 and ending in late Dec. 2007. Available; actively marketing. Ocean Vanguard one year term low 140's late May 2005 early Sept. 2006 One year plus option program in Norway with Statoil in low 140's beginning in late May 2005 and ending in early Sept. 2006 (time period to include one well redrill with ENI in low 140's beginning late July and ending late Oct. 2005). Available; actively marketing. AUSTRALASIA Ocean Bounty two wells mid 80's late June 2005 mid Oct. 2005 One well with Coogee Res. in mid 80's beginning mid Oct. and ending mid Nov.; followed by two wells plus option with Coogee in low 90's beginning mid Nov. 2005. and ending mid Jan. 2006; followed by LOI for one well plus option in mid 90's beginning mid Jan. and ending mid Mar.; followed by four wells plus option in high 90's with Woodside beginning mid Mar. 2006 and ending mid Sept. 2006. Available; actively marketing. Ocean Patriot one well high 70's late July 2005 late Sept. 2005 One well with Bass Straits in high 70's, early Sept.-mid Sept.; followed by one well with Bass Straits in high 130's, mid Sept.-late Sept.; followed by one well with Apache in high 70's, late Sept.-mid Oct.; followed by one assignmnet well with Nexus in low 150's, mid Oct.-late Dec. 2005; followed by 10-day survey ending mid-Jan. 2006; followed by first of four Anzon options in mid 130's, mid Jan. 2006-mid Feb.; followed by second of four Anzon options in upper 130's, mid Feb.-mid Mar.; followed by third and fourth of four options in low 140's, mid Mar.-mid May; followed by one exercised assignment option well from Apache with Nexus in high 70's, mid May-mid June; followed by LOI for one assignment well in low 200,000's, mid June-late July; followed by four wells plus option with NZOP in low 100's, late July-late Dec. 2006. Available; actively marketing. Ocean Epoch six wells plus option mid 70's late April 2005 mid Dec. 2005 Available; actively marketing. Ocean General six wells mid 70's mid June 2005 mid Jan. 2006 Note: 5th & 6th wells in mid 90's beginning early Nov. 2005 and ending mid Jan. 2006; followed by one well plus two option wells with Premier in high 70's in Viet Nam beginning mid Jan. 2006 and ending mid Mar. 2006. Available; actively marketing. Ocean Baroness -- -- -- -- Shipyard/survey early June until mid Aug. Mobe to GOM and prep for one year plus option with Amerada Hess in low 200's beginning early Nov. 2005 and ending early Nov. 2006. Available; actively marketing. Ocean Rover 950 day extension mid 170's late June 2005 mid Jan. 2008 Available; actively marketing.
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR BRAZIL 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 Contracted Santos Ocean Heritage 300' Independent Leg Cantilever Qatar Contracted Conoco/Phillips UPGRADE (1) Ocean Endeavor 2,000' Victory Class Shipyard Upgrading DODI PURCHASE PENDING--RESERVED FOR UPGRADE (1) Garden Banks** 2,200' Victory Class GOM Out of Service -- RIGS UNDER CONSTRUCTION (2) Ocean Shield 350' Independent Leg Cantilever Shipyard -- -- Ocean Scepter 350' Independent Leg Cantilever Shipyard -- -- FUTURE CONTRACTS RIG NAME CURRENT TERM DAYRATE (000S) START DATE EST. END DATE AND OTHER INFORMATION BRAZIL Ocean Yatzy 700 day extension mid 70's early Nov. 2003 early Oct. 2005 Four-year term extension with Petrobras in mid 110's, plus potential bonus, beginning early Oct. 2005 and ending early Oct. 2009. (21-day maintenance Q3 or Q4). Available; actively marketing. Ocean Winner 700 day extension mid 50's early April 2004 mid Mar. 2006 Four-year term extension with Petrobras in low 110's, plus potential bonus, beginning mid Mar. 2006 and ending mid Mar. 2010. Available; actively marketing. Ocean Alliance one year extension high 90's early Sept. 2004 early Sept. 2005 Four-year term extension with Petrobras in mid 150's, plus potential bonus, beginning early Sept. 2005 and ending early Sept. 2009. Available; actively marketing. INTERNATIONAL DRILLSHIPS (1) Ocean Clipper 700 day extension low 100's early Jan. 2003 mid Dec. 2005 Five-year term extension with Petrobras in low 180's, plus potential bonus, beginning mid Dec. 2005 and ending mid Dec. 2010. Available; actively marketing. INTERNATIONAL JACKUPS (2) Ocean Sovereign eight wells upper 60's early May 2005 late Oct. 2005 Two wells with Amerada Hess plus two exercised option wells in mid 80's beginning late Oct. and ending mid Dec. 2005; followed by two option wells with Santos in mid 70's beginning mid Dec. 2005 and ending mid Mar. 2006; followed by three wells with Santos in upper 60's beginning mid Mar. and ending mid May; followed by two wells with Anadarko in mid 80's beginning mid May and ending early July 2006. Available; actively marketing. Ocean Heritage two wells plus option low 70's mid June 2005 late Mar. 2006 Available; actively marketing. UPGRADE (1) Ocean Endeavor -- -- -- -- Singapore shipyard for upgrade to 10,000 ft. capable 5th Generation rig. Estimated completion early 2007; followed by commissioning beginning early Mar. 2007; followed by LOI for a term of between two and four years earning approximate total revenue of between $198 million and $355 million depending upon the length of the contract selected by the operator no later than year-end 2005. Contract is expected to begin mid 2007. Available; actively marketing. PURCHASE PENDING--RESERVED FOR UPGRADE (1) Garden Banks** -- -- -- -- Currently retired from active service as drilling and production platform. RIGS UNDER CONSTRUCTION (2) Ocean Shield -- -- -- -- Singapore shipyard, estimated completion Q1 2008. Available; actively marketing. Ocean Scepter -- -- -- -- Brownsville shipyard, estimated completion Q1 2008. Available; actively marketing.
NOTES: * GENERALLY, RIG UTILIZATION RATES APPROACH 95-98% DURING CONTRACTED PERIODS; HOWEVER, UTILIZATION RATES CAN BE ADVERSELY IMPACTED BY ADDITIONAL DOWNTIME DUE TO UNSCHEDULED REPAIRS AND MAINTENANCE, WEATHER CONDITIONS AND OTHER FACTORS. ** DIAMOND OFFSHORE SERVICES COMPANY HAS ENTERED INTO A DEFINITIVE AGREEMENT TO PURCHASE THE GARDEN BANKS, SUBJECT TO CERTAIN CONDITIONS, WHICH IS EXPECTED TO BE CONSUMMATED IN SEPTEMBER 2005. DIAMOND OFFSHORE DOES NOT CURRENTLY OWN THE RIG. GOM = Gulf of Mexico -----END PRIVACY-ENHANCED MESSAGE-----