-----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, O20NJ4oQHgV6ZL9HcgqcaOwEYRbGnSuJVxrrvaCOvA7VCMClFgM7aWugtco1ucnv o85Pbb96gc+3xvRaXi4ihQ== 0000950134-05-010698.txt : 20050524 0000950134-05-010698.hdr.sgml : 20050524 20050524060105 ACCESSION NUMBER: 0000950134-05-010698 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050523 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050524 DATE AS OF CHANGE: 20050524 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: 05852920 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 h25803e8vk.txt DIAMOND OFFSHORE DRILLING, INC. - DATED 5/23/2005 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): MAY 23, 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)) INFORMATION TO BE INCLUDED IN THE REPORT 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 May 23, 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 May 23, 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: May 23, 2005 3 EXHIBIT INDEX Exhibit number Description 99.1 Rig Status Report as of May 23, 2005 4 EX-99.1 2 h25803exv99w1.txt RIG STATUS REPORT AS OF MAY 23, 2005 . . . 1 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MAY 23, 2005
DAYRATE RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000S) START DATE DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) Ocean Quest 3,500' Victory Class GOM Contracted Noble one well high 110's late April 2005 Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee 220 day extension mid 70's early Dec. 2004 Ocean America 5,500' Ocean Odyssey GOM Contracted Pioneer three wells low 150's early May 2005 Ocean Valiant 5,500' Ocean Odyssey GOM Contracted Kerr-McGee one well high 90's mid May 2005 Ocean Victory 5,500' Victory Class GOM Contracted Shell 100 day term low 130's mid Feb. 2005 Ocean Confidence 7,500' DP Aker H-3.2 GOM Contracted BP five-year term mid 170's early Jan. 2001 Modified DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4) Ocean Voyager 2,000' Victory Class GOM Contracted Kerr-McGee one well low 110's early May 2005 Ocean Concord 2,200' F&G SS-2000 GOM Contracted Kerr-McGee one well upper 50's mid April 2005 Ocean Lexington 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas three wells mid 50's late Jan. 2005 Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG three wells mid 60's mid Dec. 2004
RIG NAME EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) Ocean Quest early June 2005 120 day term plus option with Noble in mid 120's beginning early June and ending early Oct. 2005. Available; actively marketing. Ocean Star mid July 2005 90 day term extension plus option with Kerr-McGee in low 140's beginning mid July 2005 and ending early Oct. 2005; followed by 12 month extension with Kerr-McGee in mid 170's beginning early Oct. 2005 and ending early Oct. 2006. Available; actively marketing. Ocean America late Aug. 2005 Following assignment wells with Pioneer, first of two extension wells with Mariner in mid 110's beginning late Aug. and ending mid Oct.; followed by second well with Mariner in low 130's beginning mid Oct. and ending mid Nov. 2005. Available; actively marketing. Ocean Valiant late June 2005 One well with Kerr-McGee in low 130's beginning late June and ending late Aug. 2005; followed by 180 day term extension with Kerr-McGee in low 150's beginning late Aug. 2005 and ending mid Feb. 2006. Available; actively marketing. Ocean Victory early June 2005 One well with Shell in low 160's beginning early June and ending late June 2005. One year term with Murphy in low 200's beginning late July 2005 and ending late July 2006. Available; actively marketing. Ocean Confidence early Jan. 2006 LOI for two-year term plus option in low 280's beginning early Jan. 2006 and ending early Jan. 2007. Available; actively marketing. DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4) Ocean Voyager mid June 2005 Two wells with ATP in mid 90's beginning mid June and ending early Aug.; followed by one well with Amerada Hess in low 110's beginning early Aug. and ending late Sept.; followed by LOI for one well in low 110's beginning late Sept. and ending mid Nov.; followed by two wells plus option with Amerada Hess in mid 120's beginning mid Dec. 2005 and ending mid Feb. 2006. Available; actively marketing. Ocean Concord late May 2005 One well with Amerada Hess in mid 120's beginning late May and ending mid Aug.; followed by one well with Kerr-McGee in mid 70's beginning mid Aug. and ending mid Oct.; followed by two well extension plus option with Kerr-McGee in mid 90's beginning mid Oct. and ending late Dec. Available; actively marketing. Ocean Lexington late May 2005 Rig will go in for approximately 90-day Survey and maintenance between second and third well, beginning late May and ending mid Aug. Following survey, two additional wells with Walter in low 60's beginning mid Aug. and ending mid Oct.; followed by one well plus option with Walter in low 80's beginning mid Oct. and ending mid Nov. 2005. Available; actively marketing. Ocean Saratoga mid June 2005 Two wells plus option with LLOG in low 110's beginning mid June and ending early Nov.; followed by six month extension with LLOG in low 120's beginning early Nov. 2005 and ending early May 2006. Available; actively marketing.
2 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MAY 23, 2005
DAYRATE RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000S) START DATE DOMESTIC JACKUPS (12) Ocean Crusader 200' Mat Cantilever GOM Contracted Walter Oil & Gas two well extension mid 30's late Jan. 2005 Ocean Drake 200' Mat Cantilever GOM Contracted ADTI/Seneca three wells plus option mid 40's early May 2005 Ocean Champion 250' Mat Slot GOM Contracted Hunt two wells low 40's late Jan. 2005 Ocean Columbia 250' Independent Leg Cantilever GOM Contracted Kerr-McGee Five wells mid 40's early Jan. 2005 Ocean Spartan 300' Independent Leg Cantilever GOM Contracted LLOG three wells plus option high 40's late Feb. 2005 Ocean Spur 300' Independent Leg Cantilever GOM Contracted Forest one well plus option mid 40's mid May 2005 Ocean King 300' Independent Leg Cantilever GOM Contracted El Paso two well extension mid 50's mid May 2005 Ocean Nugget 300' Independent Leg Cantilever GOM Contracted Houston Expl. two wells plus option low 50's mid May 2005 Ocean Summit 300' Independent Leg Cantilever GOM Contracted LLOG two wells plus option mid 40's late Feb. 2005 Ocean Warwick 300' Independent Leg Cantilever GOM Contracted Chevron 90 day term low 60's late May 2005 Ocean Titan 350' Independent Leg Cantilever GOM Contracted BHP one well plus option mid 50's late Jan. 2005 Ocean Tower 350' Independent Leg Cantilever GOM Contracted Chevron one well plus option mid 50's early Jan. 2005
RIG NAME EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION DOMESTIC JACKUPS (12) Ocean Crusader early June 2005 Available; actively marketing. Ocean Drake mid June 2005 One well with ADT/Samson in low 50's beginning mid June and ending mid July. Available; actively marketing. Ocean Champion early June 2005 One well extension plus option with Hunt in mid 40's beginning early June and ending late July 2005. Available; actively marketing. Ocean Columbia late June 2005 Available; actively marketing. Ocean Spartan late June 2005 Two well extension plus option with LLOG in high 50's beginning late June and ending late Aug. 2005. Available; actively marketing. Ocean Spur late June 2005 Maintenance/repairs late June through late Aug. 2005. Available; actively marketing. Ocean King late June 2005 Available; actively marketing. Ocean Nugget late Aug. 2005 Available; actively marketing. Ocean Summit late May 2005 One well extension plus option with LLOG in high 50's beginning late May and ending late June 2005. Available; actively marketing. Ocean Warwick early Aug. 2005 Available; actively marketing. Ocean Titan late June 2005 Three wells with Walter in mid 70's beginning late June and ending late Sept. Available; actively marketing. Ocean Tower mid Aug. 2005 One well extension plus option with Chevron in high 60's beginning mid Aug. and ending early Nov. 2005. Available; actively marketing.
3 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MAY 23, 2005
DAYRATE RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000S) START DATE INTERNATIONAL SEMISUBMERSIBLES (17) MEXICO Ocean Ambassador 1,100' Bethlehem GOM Contracted PEMEX four year term work mid 50's late July 2003 SS-2000 Ocean Whittington 1,500' Aker H-3 GOM Contracted PEMEX four year term work low 60's late July 2003 Ocean Worker 3,500' F&G 9500 GOM Contracted PEMEX four year term work high 60's mid Aug. 2003 Enhanced Pacesetter Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX four year term work mid 40's late Oct. 2003 NORTH SEA Ocean Nomad 1,200' Aker H-3 North Sea Contracted Talisman one year low 80's early Jan. 2005 Ocean Guardian 1,500' Earl & Wright North Sea Contracted Shell one year low 80's late Mar. 2005 Sedco 711 Series Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman one year extension low 80's early Jan. 2005 Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted ENI Standby mid 130's early May 2005 AUSTRALASIA Ocean Bounty 1,500' Victory Australia Contracted ENI one well plus option mid 80's early April 2005 Class Ocean Patriot 1,500' Bingo 3000 Australia Contracted Santos two wells high 70's late April 2005 Ocean Epoch 1,640' Korkut Malaysia Contracted Murphy six wells plus option mid 70's late April 2005 Ocean General 1,640' Korkut Viet Nam Contracted KNOC two wells mid 50's early April 2005 Ocean Baroness 7,000' Victory Enroute Demobe DODI -- -- -- Class Ocean Rover 7,000' Victory Malaysia Contracted Murphy six option wells low 120's late Jan. 2005 Class
RIG NAME EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION 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. NORTH SEA Ocean Nomad early Jan. 2006 Available; actively marketing. Ocean Guardian late Mar. 2006 One-year term extension plus option with Shell in low 160's beginning late Mar. 2006 and ending late Mar. 2007. Available; actively marketing. Ocean Princess late Dec. 2005 Available; actively marketing. Ocean Vanguard late May 2005 One year plus option program in Norway with Statoil in low 140's beginning in late May 2005 and ending in late Aug. 2006 (time period to include one well redrill with ENI in low 140's beginning late July and ending mid Oct. 2005). Available; actively marketing. AUSTRALASIA Ocean Bounty mid May 2005 One well plus option with ConocoPhillips in mid 80's beginning mid May and ending early Aug.; followed by one well with Coogee Res. in mid 80's beginning early Aug. and ending early Sept.; followed by LOI for two wells plus option in low 90's beginning early Sept. and ending mid Nov.; followed by LOI for one well plus option in mid 90's beginning mid Nov. and ending mid Dec.; followed by LOI for four wells plus option in high 90's beginning mid Dec. 2005 and ending mid June 2006. Available; actively marketing. Ocean Patriot early July 2005 One well plus three options with Anzon in high 70's beginning early July and ending mid Aug.; followed by one well with Santos in high 70's beginning mid Aug. and ending mid Sept. 2005; followed by one well with Bass Straits in high 70's beginning mid Sept. and ending early Oct.; followed by LOI for one well in high 130's beginning early Oct. and ending mid Oct.; followed by first of four Anzon options in mid 130's beginning mid Oct. and ending late Nov.; followed by second of four Anzon options in upper 130's beginning late Nov. and ending late Dec.; followed by third and fourth of four options in low 140's beginning late Dec. 2005 and ending early Mar. 2006 Available; actively marketing. Ocean Epoch mid Jan. 2006 Available; actively marketing. Ocean General early June 2005 LOI for four wells plus option in mid 70's in Malaysia beginning early June and ending late Oct.; followed by LOI for one well plus option in high 70's in Viet Nam beginning late Oct. and ending early Dec. 2005. Available; actively marketing. Ocean Baroness -- Demobe to Singapore shipyard ending early June. 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 mid Oct. 2005 and ending mid Oct. 2006. Available; actively marketing. Ocean Rover early June 2005 LOI with Murphy for 950 day extension at average dayrate in mid 170's beginning early June 2005 and ending early Jan. 2008. Available; actively marketing.
4 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MAY 23, 2005
DAYRATE RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000S) START DATE BRAZIL Ocean Yatzy 3,300' DP DYVI Brazil Contracted Petrobras 700 day extension mid 70's early Nov. 2003 Super Yatzy Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras 700 day extension mid 50's early April 2004 Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras one year extension high 90's early Sept. 2004 INTERNATIONAL DRILLSHIPS (1) Ocean Clipper 7,500' DP Fluor/ Brazil Contracted Petrobras 700 day extension low 100's early Jan. 2003 Mitsubishi INTERNATIONAL JACKUPS (2) Ocean Sovereign 250' Independent Indonesia Contracted Santos eight wells upper 60's early May 2005 Leg Cantilever Ocean Heritage 300' Independent Shipyard Contracted DODI -- -- -- Leg Cantilever UPGRADE (1) Ocean Endeavor 2,000' Victory Class Shipyard Upgrading DODI -- -- -- COLD STACKED (1) Ocean New Era 1,500' Korkut GOM Cold Stacked DODI -- -- -- ASSET HELD FOR SALE (1) Ocean Liberator 600' Aker H-3 S. Africa Cold Stacked DODI -- -- -- PURCHASE PENDING--RESERVED FOR UPGRADE (1) Garden Banks** 2,200' Victory Class GOM Out of Service -- -- -- --
RIG NAME EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION BRAZIL Ocean Yatzy early Oct. 2005 LOI for four-year term extension in mid 110's, plus potential bonus, beginning early Oct. 2005 and ending early Oct. 2009. Available; actively marketing. Ocean Winner mid Mar. 2006 LOI for four-year term extension in low 110's, plus potential bonus, beginning mid Mar. 2006 and ending mid Mar. 2010. Available; actively marketing. Ocean Alliance early Sept. 2005 LOI for four-year term extension in mid 150's, plus potential bonus, beginning early Sept. 2005 and ending early Sept. 2009. Available; actively marketing. INTERNATIONAL DRILLSHIPS (1) Ocean Clipper mid Dec. 2005 LOI for five-year extension in low 180's, plus potential bonus, beginning mid Dec. 2005 and ending mid Dec. 2010. Available; actively marketing. INTERNATIONAL JACKUPS (2) Ocean Sovereign early Mar. 2006 Available; actively marketing. Ocean Heritage -- Shipyard late April until late May; followed by two wells plus option with Conoco/Phillips in Qatar in mid 70's beginning late May 2005 and ending late Feb. 2006. Available; actively marketing. UPGRADE (1) Ocean Endeavor -- Singapore shipyard for upgrade to 10,000 ft. capable 5th Generation rig. Estimated completion early 2007. Available; actively marketing. COLD STACKED (1) Ocean New Era -- Cold stacked Dec. '02. ASSET HELD FOR SALE (1) Ocean Liberator -- Cold stacked Nov. '02. PURCHASE PENDING--RESERVED FOR UPGRADE (1) Garden Banks** -- Currently retired from active service as drilling and production platform.
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-----