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EX-10.1 - ROWAN COMPANIES PLCv194496_ex10-1.htm
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ROWAN COMPANIES, INC.
LAND RIG FLEET AND CONTRACT STATUS
As of August 19, 2010
 

                                 
ONSHORE RIGS
         
Maximum
     
Contract Status
   
       
Horsepower
 
Drilling
         
Estimated
   
Name
 
Type
 
Drawworks
 
Mud Pumps
 
Depth (feet)
 
Location
 
Customer
 
Duration
 
Comments
                                 
Rig 9
 
SCR diesel electric
 
2,000
 
3,200
 
20,000
 
Louisiana
 
Midstates Petroleum
 
October 2010
   
Rig 12
 
SCR diesel electric
 
1,500
 
2,600
 
18,000
 
Texas
 
EOG
 
September 2010
   
Rig 14
 
AC electric
 
3,000
 
3,200
 
35,000
 
Texas
 
Available
       
Rig 15
 
AC electric
 
3,000
 
3,200
 
35,000
 
Texas
 
Available
       
Rig 26
 
SCR diesel electric
 
2,000
 
4,800
 
25,000
 
Texas
 
BBX
 
September 2010
   
Rig 29
 
SCR diesel electric
 
1,500
 
2,600
 
18,000
 
Texas
 
Shipyard
       
Rig 30
 
AC electric
 
2,000
 
2,600
 
20,000
 
Louisiana
 
Chesapeake
 
December 2010
   
Rig 31
 
SCR diesel electric
 
3,000
 
4,400
 
35,000
 
Texas
 
Available
       
Rig 33
 
SCR diesel electric
 
1,500
 
3,200
 
18,000
 
Texas
 
EOG
 
August 2010
   
                   
Texas
 
Plains
 
February 2011
   
Rig 35
 
SCR diesel electric
 
1,500
 
4,400
 
18,000
 
Texas
 
Cabot
 
August 2010
   
                       
EXCO Resources
 
September 2011
   
Rig 51
 
SCR diesel electric
 
2,000
 
4,400
 
25,000
 
Texas
 
Newfield
 
August 2010
   
                       
Krescent
 
November 2010
   
Rig 52
 
SCR diesel electric
 
2,000
 
4,400
 
25,000
 
Texas
 
Krescent
 
November 2010
   
Rig 53
 
SCR diesel electric
 
2,000
 
4,400
 
25,000
 
Louisiana
 
Chesapeake
 
December 2010
   
Rig 54
 
SCR diesel electric
 
2,000
 
4,400
 
25,000
 
Louisiana
 
Chesapeake
 
November 2010
   
Rig 59
 
AC electric
 
2,000
 
3,200
 
25,000
 
Louisiana
 
EnCana
 
August 2012
   
Rig 60
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
Devon
 
April 2011
   
Rig 61
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EnCana
 
September 2010
   
Rig 62
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
Devon
 
March 2011
   
Rig 63
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EnCana
 
November 2014
   
Rig 64
 
AC electric
 
2,000
 
3,200
 
25,000
 
Louisiana
 
EnCana
 
October 2010
   
Rig 65
 
AC electric
 
2,000
 
3,200
 
25,000
 
Louisiana
 
EnCana
 
January 2011
   
Rig 66
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EnCana
 
June 2015
   
Rig 67
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EnCana
 
October 2010
   
Rig 68
 
AC electric
 
2,000
 
3,200
 
25,000
 
Alaska
 
Pioneer
 
September 2010
 
Rig is on standby at a reduced rate.
Rig 76
 
AC electric
 
2,000
 
3,200
 
25,000
 
Louisiana
 
EnCana
 
April 2011
   
Rig 77
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EnCana
 
December 2012
   
Rig 84
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EnCana
 
June 2011
   
Rig 85
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EXCO Resources
 
October 2010
   
Rig 86
 
AC electric
 
2,000
 
3,200
 
25,000
 
Louisiana
 
EnCana
 
February 2012
   
Rig 87
 
AC electric
 
2,000
 
3,200
 
25,000
 
Texas
 
EXCO Resources
 
May 2012
   

Rigs 9 through 35 were constructed at various dates between 1960 and 1982, utilizing new as well as used equipment, and have since been substantially rebuilt. Rigs 51, 52, 53 and 54 were constructed during 2001-02. Rigs 59 through 66 were completed during 2006, Rigs 67 through 77 during 2007, Rigs 84 and 85 in 2008 and Rigs 86 and 87 in 2009. All but Rig 29 are equipped with a top-drive drilling system. Operating day rates range from $15,500 to $27,000. Estimated contract durations reflect either stated drilling periods expected time required for the contracted well or wells. Estimated number of idle days during July 2010 was 124 (87% utilization) versus 120 idle days (87% utilization) during June 2010.

ROWAN HEREBY ADVISES THAT THE TABLE SET FORTH ABOVE MAY CONTAIN INACCURATE, INCOMPLETE AND/OR INCORRECT INFORMATION AND IS SUBJECT TO CHANGE AT ANY TIME.  THE INFORMATION SHOULD NOT BE RELIED UPON FOR ANY PURPOSE, AND ROWAN HEREBY DISCLAIMS ANY LIABILITY RELATING TO THE USE OF THE INFORMATION SET FORTH ABOVE.

This report contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs and future expected financial performance of the Company that are based on current expectations and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected by the Company. Relevant factors have been disclosed in the Company's filings with the U. S. Securities and Exchange Commission.

Revisions to Fleet Status Report Noted in Bold