EX-99.1 2 h50289exv99w1.htm RIG STATUS REPORT exv99w1
 

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Exhibit 99.1
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF October 1, 2007
                                     
                        Dayrate            
Rig Name   WD   Location   Status   Operator   Current Term   (000s)   Start Date   Est. End Date   Future Contracts and Other Information*
RECENT COMMITMENTS — (See Body of Report For Contract Details/Date Changes and Other Information)
                                   
 
Ocean Drake                                  
Two wells plus option for 1-5 wells with Fairways
                                   
 
Domestic Deepwater Semisubmersibles (8)
                                   
 
Ocean Quest   3,500’   GOM   Contracted   Noble   two year term + option   mid 350’s   mid April 2007   mid June 2009  
Available; actively marketing.
                                   
 
Ocean Star   5,500’   GOM   Contracted   Anadarko   term extension   mid 380’s   early Jan. 2007   late Nov. 2007  
One-year term extension, plus option, with Anadarko in mid 410’s beginning in late Nov. 2007 and ending in late Nov. 2008. Available; actively marketing.
                                   
 
Ocean America   5,500’   GOM   Contracted   ENI   assignment from Mariner   mid 420’s   mid May 2007   early Nov. 2007  
Resume work with Mariner early Nov. 2007 in mid 370’s until mid April 2008, plus option; followed by special survey and maintenance beginning mid April 2008 and ending mid May 2008. Available; actively marketing.
                                   
 
Ocean Valiant   5,500’   GOM   Contracted   Anadarko   one year term extension   mid 390’s   mid Mar. 2007   mid Mar. 2008  
Survey; followed by one-year term extension with Anadarko in mid 420’s beginning mid April 2008 and ending mid April 2009. Available; actively marketing.
                                   
 
Ocean Victory   5,500’   GOM   Contracted   Murphy   two year term ext. + option   mid 320’s   early Dec. 2006   mid Jan. 2009  
Survey beginning mid Dec. 2007 and ending mid Jan. 2008; followed by completion of Murphy contract ending mid Jan. 2009; followed by one well, plus option, with Newfield in low 300’s (swap from Voyager contract in low 300’s) beginning mid Jan. 2009 and ending late Feb. 2009. Available; actively marketing.
                                   
 
Ocean Baroness   7,000’   GOM   Contracted   DODI   special survey and maintenance   —   —   early Oct. 2007  
Current Hess contract is three year term plus option ending late Feb. 2010. Available; actively marketing.
                                   
 
Ocean Endeavor   10,000’   GOM   Contracted   Devon   four year term + option   low 250’s   early July 2007   late June 2011  
Available.
                                   
 
Ocean Confidence   7,500’   GOM   Contracted   BP   two year term   low 280’s   early Jan. 2006   early Jan. 2008  
Four-year term with Murphy in the GOM in the low 500’s beginning January 2008 and ending January 2012. Available; actively marketing.
                                   
 
Domestic 2nd/3rd Generation Semisubmersibles (6)
                                   
 
Ocean New Era   1,500’   GOM   Contracted   DODI   prep and mobe for Pemex   —   —   mid Oct. 2007  
2-1/2 year term with Pemex in mid 260’s beginning mid Oct. 2007 and ending mid Feb. 2010. Available; actively marketing.
                                   
 
Ocean Voyager   2,000’   GOM   Contracted   DODI   prep and mobe for Pemex   —   —   mid Oct. 2007  
2-1/2 year term with Pemex in mid 330’s beginning mid Oct. 2007 and ending late Feb. 2010. Available; actively marketing.
                                   
 
Ocean Yorktown   2,850’   GOM   Contracted   DODI   prep, mobe and acceptance test for Brazil   —   —   mid May 2008  
Five-year term contract with Petrobras in Brazil in mid 230’s plus lump sum mobe and potential 15% bonus beginning in mid May 2008 and ending in mid May 2013. Available.
                                   
 
Ocean Concord   2,200’   GOM   Contracted   DODI   prep and mobe for Petrobras   —   —   mid Dec. 2007  
Prep and lump-sum mobe to Brazil, plus acceptance test; followed by five-year contract with Petrobras in low 230’s plus potential 15% performance bonus beginnning mid Dec. 2007 and ending mid Dec. 2012. Available.
                                   
 
Ocean Worker   3,500’   GOM   Contracted   DODI   survey, prep and mobe for
Trinidad 		  —   —   early Nov. 2007  
Six-month term with Petro-Canada in Trinidad in the low 450’s beginning early Nov. 2007 and ending early June 2008. Available; actively marketing.
                                   
 
Ocean Saratoga   2,200’   GOM   Contracted   LLOG   six month term + option   low 300’s   late Oct. 2007   late April 2008  
Available; actively marketing.

 

 

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DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF October 1, 2007
 
                                     
                        Dayrate            
Rig Name   WD   Location   Status   Operator   Current Term   (000s)   Start Date   Est. End Date   Future Contracts and Other Information*
Domestic Jackups (8)
                                   
 
Ocean Crusader   200’ MC   GOM   —   DODI   Survey and maintenance   —   —   mid Oct. 2007  
Available; actively marketing.
                                   
 
Ocean Drake   200’ MC   GOM   Contracted   Walter   one well   low 60’s   late Aug. 2007   mid Oct. 2007  
Two wells with Fairways Offshore in low 60’s plus option for 1-5 wells beginning mid Oct. and ending mid Dec. 2007. Available; actively marketing.
                                   
 
Ocean Champion   250’ MS   GOM   Contracted   Tana   two wells   low 70’s   late Aug. 2007   late Oct. 2007  
Available; actively marketing.
                                   
 
Ocean Columbia   250’ IC   GOM   —   DODI   Prep, maintenance and mobe to Mexico   —   —   late Nov. 2007  
1-1/2 year term with Pemex in mid 120’s beginning late Nov. 2007 and ending mid June. 2009. Available; actively marketing.
                                   
 
Ocean Spartan   300’ IC   GOM   —   DODI   —   —   —   —  
Available; actively marketing.
                                   
 
Ocean Summit   300’ IC   GOM   Contracted   Newfield   one well   mid 60’s   mid Sept. 2007   early Nov. 2007  
Available; actively marketing.
                                   
 
Ocean Titan   350’ IC   GOM   Contracted   Apache   two well extension   low 80’s   mid Sept. 2007   mid Nov. 2007  
Available; actively marketing.
                                   
 
Ocean Tower   350’ IC   GOM   Contracted   Chevron   two year term
extension
+ option 		  low 140’s   late April 2006   late April 2008  
Special survey and maintenance beginning early Nov. and ending early Dec. 2007. Indexed term contract with floor in low 140’s and ceiling in low 200’s. Available; actively marketing.
                                   
 
International Semisubmersibles (16)
                                   
 
MEXICO                                  
 
                                   
 
Ocean Ambassador   1,100’   GOM   Contracted   PEMEX   four year term work   mid 50’s   late July 2003   mid Dec. 2007  
Available; actively marketing.
                                   
 
NORTH SEA/MED                                  
 
                                   
 
Ocean Nomad   1,200’   North Sea   Contracted   Talisman   18-month extension   mid 280’s   early Feb. 2007   early Aug. 2008  
Two-year term extension with Talisman in mid 330’s beginning early Aug. 2008 and ending early Aug. 2010. Available; actively marketing.
                                   
 
Ocean Guardian   1,500’   North Sea   Contracted   Oilexco   two year term   mid 350’s   early June 2007   early June 2009  
Available; actively marketing.
                                   
 
Ocean Princess   1,500’   North Sea   Contracted   Talisman   two year term   mid 150’s   late Jan. 2006   mid Feb. 2008  
Two-year term extension with Talisman in mid 330’s beginning mid Feb. 2008 and ending mid Feb. 2010. Available; actively marketing.
                                   
 
Ocean Vanguard   1,500’   North Sea   Contracted   Statoil   term   mid 160’s   early April 2007   mid April 2008  
Two year extension plus option with Statoil in low 400’s beginning mid April 2008 and ending mid April 2010. Available; actively marketing.
                                   
 
Ocean Lexington   2,200’   Egypt   Contracted   BP   36 month term + option   mid 260’s   late Nov. 2006   late Aug. 2009  
Available; actively marketing.

 

 

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DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF October 1, 2007
                                     
Rig Name   WD   Location   Status   Operator   Current Term   Dayrate
(000s)		   Start Date   Est. End Date   Future Contracts and Other Information*
AUSTRALASIA
                                   
 
Ocean Bounty   1,500’   Australia   Contracted   Woodside   five wells   mid 100’s   early May 2007   mid Feb. 2008  
Special Survey beginning mid Feb. 2008 and ending mid March 2008; followed by one-year term with Woodside in low 350’s beginning mid March 2008 and ending mid March 2009. Available; actively marketing.
                                   
 
Ocean Patriot   1,500’   New Zealand   Contracted   Australian Worldwide   two wells   mid 370’s   mid Aug. 2007   late Oct. 2007  
Remainder of New Zealand work with Santos in mid 370’s beginning late Oct. and ending early Jan. 2008; followed by survey, maintenance and mobe to Bass Strait; followed by last option well exercised with Anzon in low 350’s beginning mid Feb. 2008 and ending late Mar. 2008; followed by remainder of Santos term plus option in mid 370’s beginning late Mar. 2008 and ending mid Oct. 2008; followed by two-year term contract in Australia at a dayrate between 380,000 and 420,000*** with Apache, plus option, beginning mid Oct.. 2008 and ending mid Oct. 2010. Available; actively marketing.
                                   
 
Ocean Epoch   1,640’   Australia   Contracted   Shell   term program plus
option 		  mid 220’s   early April 2006   early Jan. 2008  
One year term contract with Apache in Australia at a dayrate between 330,000 and 365,000*** beginning early Jan. 2008 and ending early Jan. 2009; followed by 550-day term contract in Australia in low 350’s with BHPB, plus option, beginning early Jan. 2009 and ending mid July 2010. Available; actively marketing.
                                   
 
Ocean General   1,640’   Indonesia   mobing to Timor Sea   Inpex   three wells   mid 130’s   early May 2007   early Dec. 2007  
Two additional wells with Inpex in mid 170’s beginning early Dec. 2007 and ending mid April. 2008. Available; actively marketing.
                                   
 
Ocean Rover   7,000’   Malaysia   Contracted   Murphy   remaining Kikeh
development wells 		  mid 180’s   late Feb. 2007   late April 2008  
Seven option wells of approximately 30-days each with Murphy in mid 240’s ending mid Dec. 2008; followed by one well with Newfield in Malaysia in low 450’s beginning mid Dec. 2008 and ending late Jan. 2009; followed by two-year term with Murphy in Malaysia in low 450’s beginning late Jan. 2009 and ending late Jan. 2011. Available; actively marketing.
                                   
 
BRAZIL                                  
 
                                   
 
Ocean Yatzy   3,300’   Brazil   Contracted   Petrobras   four year extension
plus potential bonus 		  mid 110’s   early Oct. 2005   early Oct. 2009  
Available.
                                   
 
Ocean Whittington   1,500’   Brazil   Contracted   Petrobras   five year term
plus
potential bonus 		  mid 220’s   late Aug. 2007   early Oct. 2012  
Available.
                                   
 
Ocean Winner   3,500’   Brazil   Contracted   Petrobras   700 day extension   low 110’s   mid Mar. 2006   mid Mar. 2010  
Available.
                                   
 
Ocean Alliance   5,000’   Brazil   Contracted   Petrobras   four year extension
plus potential bonus 		  mid 150’s   early Sept. 2005   early Sept. 2009  
Available.
                                   
 
International Drillships (1)
                                   
 
Ocean Clipper   7,500’   Brazil   Contracted   Petrobras   five year extension
plus potential bonus 		  low 180’s   mid Dec. 2005   mid Dec. 2010  
Available.

 

 

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DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF October 1, 2007
                                     
                        Dayrate            
Rig Name   WD   Location   Status   Operator   Current Term   (000s)   Start Date   Est. End Date   Future Contracts and Other Information*
International Jackups (5)
                                   
 
Ocean Sovereign   300’ IC   Indonesia   Contracted   Kodeco   18-month term + option   mid 90’s   mid Oct. 2006   mid-April 2008  
Available; actively marketing.
                                   
 
Ocean Spur   300’ IC   Eqypt   Contracted   NOSPCO   180-day term   high 150’s   mid May 2007   late Jan. 2008  
Intermediate survey; followed by one well with Gaz de France in Egypt in low 190’s beginning early Feb. 2008 and ending late Mar. 2008. Available; actively marketing.
                                   
 
Ocean Heritage   300’ IC   Qatar   Contracted   QPD   two wells + option   mid 170’s   late Aug. 2007   mid Jan. 2008  
Available; actively marketing.
                                   
 
Ocean King   300’ IC   Croatia   DODI   —   survey and maintenance   —   —   mid Nov. 2007  
Survey and maintenance ending mid Nov. 2007; followed by two-year bareboat charter with Crosco in high 100’s beginning mid Nov. 2007 and ending mid Nov. 2009. Available; actively marketing.
                                   
 
Ocean Nugget   300’ IC   GOM   Contracted   Pemex   term contract   high 160’s   early Oct 2006   late Mar. 2009  
Available; actively marketing.
                                   
 
Upgrade (1)                                  
 
                                   
 
Ocean Monarch   2,200’   Shipyard   Upgrading   DODI   —   —   —   —  
Singapore shipyard for upgrade to 10,000 ft. capable 5th Generation rig. Estimated completion, including commissioning and mobe, late fourth quarter 2008; followed by four-year term, plus mobe, plus option, with Anadarko in the GOM in the mid 420’s beginning mid Jan. 2009 and ending mid Jan. 2013. Available.
                                   
 
New-build Rigs Under Construction (2)
                                   
 
Ocean Shield   350’ IC   Shipyard   —   —   —   —   —   —  
Singapore shipyard, estimated completion Q1 2008; followed by one-year term in Australia with ENI in mid 260’s beginning upon delivery in the first quarter of 2008. Available; actively marketing.
                                   
 
Ocean Scepter   350’ IC   Shipyard   —   —   —   —   —   —  
Brownsville shipyard, estimated completion Q2 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. **An LOI is subject to customary conditions, including the execution of a definitive agreement, and as such may not result in a binding contract. Options are un-priced and any extension of contract is subject to mutually agreeable terms and conditions unless otherwise indicated. Indexed contracts generally reprice every 30 days. Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract. GOM = Gulf of Mexico. ***Dayrate range disclosed pursuant to terms of contract.

 

 

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DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF October 1, 2007
Forward-Looking Statements: The rig status report may 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. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain or be identified by the words “expect,” “intend,” “plan,” “predict,” “anticipate,” “estimate,” “believe,” “should,” “could,” “may,” “might,” “will,” “will be,” “will continue,” “will likely result,” “project,” “budget,” “forecast,” and similar expressions. Statements by the Company in the rig status report that contain forward-looking statements include, but are not limited to, statements regarding the current term, future dayrates, start and end dates and comments concerning future contracts and availability, letters of intent, utilization, surveys, downtime and other aspects of the Company’s drilling rigs, as well as statements concerning rigs being upgraded or to be upgraded and rigs under construction. Such statements are inherently subject to a variety of assumptions, 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 Company’s overall business and financial performance can be found in the Company’s reports and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, operating risks, 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 Company’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 Company undertakes no obligation to publicly update or revise any forward-looking statement.