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8-K - NOBLE CORPORATION 8-K 1-18-2011 - Noble Finance Coform8k.htm

Exhibit 99.1
 
 
NOBLE CORPORATION AND SUBSIDIARIES FLEET STATUS REPORT - January 18, 2011
 
.
   
Approximate actual and estimated unpaid down time days *
 
RIG
 
RIG DESIGN
 
YEAR BUILT / REBUILT
 
WATER DEPTH
 
LOCATION
 
OPERATOR
 
ESTIMATED CONTRACT START DATE
 
ESTIMATED CONTRACT EXPIRATION DATE
 
FULL CONTRACT DAYRATE ($000)
 
COMMENTS
4Q-10
1Q-11
1Q-11
2Q-11
3Q-11
4Q-11
                                       
A
A
E
E
E
E
This fleet status report contains information on contracts and letters of intent or awards with our customers.  Letters of intent or awards are noted in the comments section and may not result in an actual drilling contract. The information contained in this fleet status report is as of the date of the report only and is subject to change without notice to the recipient, and we assume no duty to update any portion of the information contained herein.  This fleet status report contains statements that are not historical facts, which are “forward-looking statements” within the meaning of the U.S. federal securities laws.  Forward-looking statements include, but are not limited to, statements about estimated duration of client contracts, contract dayrate amounts, future contract commencement dates, shipyard projects, our business, financial performance and prospects.  Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to have been correct.  Various factors could cause actual results to differ materially.
             
Full Contract Dayrate reflects the full daywork operating rate payable to the Company by the operator as provided in the applicable drilling contract unless otherwise specified.  The average dayrate over the term of the contract will be lower and could be substantially lower.  The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond our control.  Our client contracts and operations are generally subject to a number of risks and uncertainties.  We discuss these factors, including risks, uncertainties and assumptions concerning actions by our clients, governments and other third parties, drilling activity levels, market conditions, operational difficulties, weather related events and other matters, from time to time in our filings with the U.S. Securities and Exchange Commission (“SEC”), which we urge you to review and which are available free of charge on the SEC’s Web site at www.sec.gov.
 
                                       
 
U.S. Gulf of Mexico Semisubmersibles (8)
   
                                       
 
Noble Danny Adkins
 
Bingo 9000
 
1999/2009
 
12,000'-DP
 
US GOM
 
Shell
 
Late Jun 2010
 
Mid Aug 2010
 
68-70
 
Suspension rate during period of limitation on certain activities in the U.S. Gulf of Mexico.  Shell will provide certain operational support in addition to the suspension rate.  The suspension period shall be extended in the event the period of limitation on certain activities in the U.S. Gulf of Mexico is extended.
           
                 
US GOM
 
Shell
 
Mid Aug 2010
 
Late Oct 2010
 
446-448
 
Subsea System has been certified.
           
                 
US GOM
 
Shell
 
Late Oct 2010
 
Late Dec 2010
 
68-70
 
Suspension rate.  We are in discussions with Shell over the application of the suspension rate following the lifting of the moratorium in the U.S. Gulf of Mexico.
           
                 
US GOM
 
Shell
 
Late Dec 2010
 
Late Sep 2014
 
446-448
 
Well completion estimated to end on 2/07/2011 after which the unit could return to the Suspension rate.
           
                                                   
 
Noble Jim Day, Newbuild
 
Bingo 9000
 
1999/2009
 
12,000'-DP
 
In-transit & acceptance testing
 
Mid Jun 2010
 
Late Dec 2010
 
-
               
                 
US GOM
 
Shipyard
 
Early Jan 2011
 
TBA
 
-
 
Available.  Subsea System has been certified.
 
18
       
                                                   
 
Noble Clyde Boudreaux (a, b)
 
F&G 9500 Enhanced Pacesetter
 
1987/2007
 
10,000'
 
US GOM
 
Noble Energy
 
Mid Jun 2010
 
Mid Dec 2010
 
144-146
 
Standby rate from June 15, 2010 though December 12, 2010.
           
                 
US GOM
 
Shipyard
 
Mid Dec 2010
 
TBA
 
-
 
Available. Subsea System has been certified.
18
18
       
                                                   
 
Noble Amos Runner (a)
 
Noble EVA 4000™
 
1982/1999
 
8,000'
 
US GOM
 
LLOG
 
Mid Oct 2010
 
Late Jun 2011
 
334-336
 
Subsea System has been certified.  Rig was swapped for Noble Lorris Bouzigard to perform under contract with LLOG.
17
         
                                                   
 
Noble Jim Thompson (a)
 
Noble EVA 4000™
 
1984/1999
 
6,000'
 
US GOM
 
Shell
 
Late Jun 2010
 
Late Jan 2011
 
46-48
 
Suspension rate during period of limitation on certain activities in the U.S. Gulf of Mexico.  Shell will provide certain operational support in addition to the suspension rate. The suspension period shall be extended in the event the period of limitation on certain activities in the U.S. Gulf of Mexico is extended.
           
                 
US GOM
 
Shell
 
Early Feb 2011
 
Early Apr 2011
 
335-337
 
Pursuant to our agreement with Shell and in connection with the Frontier transaction closing, Noble will reduce the current dayrate to $335,000-$337,000. This same dayrate, plus an increase for anticipated capital expenditures expected to be incurred at the request of Shell, will also apply during a three-year extension, which is scheduled to begin following the conclusion of the current contract in March 2011 (plus the suspension period and plus any upgrade period to the extent it occurs beyond the period of suspension). The revised dayrate will be eligible for a 15% performance bonus.  Subsea System is in the certification process and is expected to be complete by mid to late January 2011.
           
                 
US GOM
 
Shell
 
Early Apr 2011
 
Early Oct 2014
 
335-337
 
Eligible for a maximum 15% bonus.
           
                             
 
                   
 
Noble Paul Romano (a)
 
Noble EVA 4000™
 
1981/1998
 
6,000'
 
US GOM
 
Shipyard
 
Mid Jun 2010
     
-
 
Available.  The unit is currently warm stacked.  Subsea System has been certified.
92
18
       
                                                   
 
Noble Driller
 
Aker H-3 Twin Hull S1289 Column
 
1976/2007
 
5,000'
 
US GOM
 
Shell
 
Early Aug 2010
 
Mid Apr 2011
 
46-48
 
Suspension rate during period of limitation on certain activities in the U.S. Gulf of Mexico.  Subsea System is in the certification process.
           
                 
US GOM
 
Shell
 
Mid Apr 2011
 
Mid Mar 2013
 
382-384
 
Plus five one-year options.
           
                                                   
 
Noble Lorris Bouzigard (b)
 
Pentagone 85
 
1975/2003
 
4,000'
 
US GOM
 
Shipyard
 
Early Oct 2010
     
-
 
Noble Amos Runner was swapped for rig to perform under contract with LLOG.  The unit is currently cold stacked.
           
                                       
 
U.S. Gulf of Mexico Submersibles (2)
               
 
Noble Joe Alford
 
Pace Marine 85G
 
1982/2006
 
70’-C
 
US GOM
 
Shipyard
 
Mid Sep 2009
     
-
 
Cold Stacked.
           
                                                   
 
Noble Lester Pettus
 
Pace Marine 85G
 
1982/2007
 
70’-C
 
US GOM
 
Shipyard
 
Early Jun 2009
     
-
 
Cold Stacked.
           
 
Mexico Semisubmersible (1) (c)
               
 
Noble Max Smith
 
Noble EVA 4000™
 
1980/1999
 
7,000'
 
Bay of Campeche
 
Pemex
 
Early Aug 2008
 
Late Jul 2011
 
483-485
               
                                       
 
Mexico Jackups (12) (c, d)
               
 
Noble Bill Jennings
 
MLT Class 84-E.R.C.
 
1975/1997
 
390’-IC
 
Bay of Campeche
 
Pemex
 
Mid June 2010
 
Early Nov 2010
 
94-96
               
                 
US GOM
 
Shipyard
 
Mid Nov 2010
     
-
 
Available.  The unit has moved to the US Gulf of Mexico and will be temporarily stacked to reduce operating costs.
50
18
       
                                                   
 
Noble Eddie Paul
 
MLT Class 84-E.R.C.
 
1976/1995
 
390’-IC
 
Mexico
 
Shipyard
 
Early Aug 2010
     
-
 
Available.  The unit is currently warm stacked.
92
18
       
                                                   
 
Noble Leonard Jones
 
MLT Class 53-E.R.C.
 
1972/1998
 
390’-IC
 
Mexico
 
Shipyard
 
Late June 2010
     
-
 
Available.  The unit is currently warm stacked.
92
18
       
                                                   
 
Noble Johnnie Hoffman
 
Baker Marine BMC 300
 
1976/1993
 
300’-IC
 
Bay of Campeche
 
Pemex
 
Late July 2010
 
Mid Oct 2010
 
74-76
               
                 
Mexico
 
Shipyard
 
Mid Oct 2010
 
Late Oct 2010
 
-
   
21
         
                 
Bay of Campeche
 
Pemex
 
Early Nov 2010
 
Late Dec 2010
 
74-76
   
2
         
                 
US GOM
 
Shipyard
 
Late Dec 2010
     
-
 
Available.  The unit is moving to the US Gulf of Mexico and will be temporarily stacked to reduce operating costs.
 
18
 
     
                                                   
 
Noble Gene Rosser
 
Levingston Class 111-C
 
1977/1996
 
300’-IC
 
Bay of Campeche
 
Pemex
 
Mid June 2010
 
Mid Dec 2010
 
79-81
   
2
         
                 
US GOM
 
Shipyard
 
Late Dec 2010
     
-
 
Available.  The unit is moving to the US Gulf of Mexico and will be temporarily stacked to reduce operating costs.
11
18
       
                                                   
 
Noble John Sandifer
 
Levingston Class 111-C
 
1975/1995
 
300’-IC
 
Mexico
 
Shipyard
 
Mid Sept 2010
 
Mid Nov 2010
 
-
 
UWILD inspection.
45
         
                         
Mid Nov 2010
 
Early Feb 2011
 
74-76
 
Received contract extension.
           
                                                   
 
Noble Lewis Dugger
 
Levingston Class 111-C
 
1977/1997
 
300’-IC
 
Bay of Campeche
 
Pemex
 
Late May 2010
 
Mid Oct 2010
 
79-81
               
                 
Bay of Campeche
 
Pemex
 
Mid Oct 2010
 
Mid Nov 2010
 
76-78
 
Received a 28-day extension of the current direct assignment.
           
                 
US GOM
 
Shipyard
 
Mid Nov 2010
     
-
 
Available.  The unit has moved to the US Gulf of Mexico and will be temporarily stacked to reduce operating costs.
42
18
       
                                                   
 
Noble Sam Noble
 
Levingston Class 111-C
 
1982
 
300’-IC
 
Mexico
 
Shipyard
 
Late Sep 2010
 
Late Oct 2010
 
-
 
UWILD inspection.
31
         
                 
Bay of Campeche
 
Pemex
 
Early Nov 2010
 
Late Jan 2011
 
74-76
 
Received contract extension.
           
                                                   
 
Noble Roy Butler
 
F&G L-780 MOD II
 
1982/1998
 
  250’-IC (f)
 
Bay of Campeche
 
Pemex
 
Late July 2010
 
Early Apr 2011
 
62-64
               
                                                   
 
Noble Earl Frederickson
 
MLT Class 82-SD-C
 
1979/1999
 
250’-IC
 
Bay of Campeche
 
Pemex
 
Late Aug 2010
 
Late Dec 2010
 
62-64
 
Available.  The unit is moving to the US Gulf of Mexico and will be temporarily stacked to reduce operating costs.
7
18
       
                                                   
 
Noble Tom Jobe
 
MLT Class 82-SD-C
 
1982
 
250’-IC
 
Bay of Campeche
 
Pemex
 
Early Aug 2010
 
Early Nov 2010
 
82-84
 
This contract commenced 8/07/2008.  The contract reprices every three months based on an index of jackup rates in seven international regions.  On 8/07/2010, the contract repriced at a new dayrate of $82k-$84k.
           
                         
Early Nov 2010
 
Early Dec 2011
 
80-82
 
On 11/07/2010, the contract repriced at a new dayrate of $80k-$82k.  The next date on which the contract is expected to reprice is 2/07/2011.
         
18
 
                                                   
 
Noble Carl Norberg
 
MLT Class 82-C
 
1976/2003
 
250'-IC
 
Bay of Campeche
 
Pemex
 
Early Sep 2010
 
Early Dec 2010
 
80-82
 
This contract commenced on 3/02/2009.  The contract reprices every three months based on an index of jackup rates in seven international regions.  On 12/02/2010, the contract repriced at a new dayrate of   $80k-$82k.
           
                 
Bay of Campeche
 
Pemex
 
Early Dec 2010
 
Early Mar 2011
 
80-82
 
 
           
 
Changes from last Fleet Status Report denoted by Red, Bold, Underlined type.
 
 
Page 1 of 4

 
 
 
NOBLE CORPORATION AND SUBSIDIARIES FLEET STATUS REPORT - January 18, 2011
 
.
   
Approximate actual and estimated unpaid down time days *
 
RIG
 
RIG DESIGN
 
YEAR BUILT / REBUILT
 
WATER DEPTH
 
LOCATION
 
OPERATOR
 
ESTIMATED CONTRACT START DATE
 
ESTIMATED CONTRACT EXPIRATION DATE
 
FULL CONTRACT DAYRATE ($000)
 
COMMENTS
4Q-10
1Q-11
1Q-11
2Q-11
3Q-11
4Q-11
                                       
A
A
E
E
E
E
This fleet status report contains information on contracts and letters of intent or awards with our customers.  Letters of intent or awards are noted in the comments section and may not result in an actual drilling contract. The information contained in this fleet status report is as of the date of the report only and is subject to change without notice to the recipient, and we assume no duty to update any portion of the information contained herein.  This fleet status report contains statements that are not historical facts, which are “forward-looking statements” within the meaning of the U.S. federal securities laws.  Forward-looking statements include, but are not limited to, statements about estimated duration of client contracts, contract dayrate amounts, future contract commencement dates, shipyard projects, our business, financial performance and prospects.  Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to have been correct.  Various factors could cause actual results to differ materially.
 
Full Contract Dayrate reflects the full daywork operating rate payable to the Company by the operator as provided in the applicable drilling contract unless otherwise specified.  The average dayrate over the term of the contract will be lower and could be substantially lower.  The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond our control.  Our client contracts and operations are generally subject to a number of risks and uncertainties.  We discuss these factors, including risks, uncertainties and assumptions concerning actions by our clients, governments and other third parties, drilling activity levels, market conditions, operational difficulties, weather related events and other matters, from time to time in our filings with the U.S. Securities and Exchange Commission (“SEC”), which we urge you to review and which are available free of charge on the SEC’s Web site at www.sec.gov.
 
 
Brazil Semisubmersibles (3) (c )(h)
               
 
Noble Dave Beard-Newbuild
 
F&G 9500 Enhanced Pacesetter
 
1986/2008
 
10,000'-DP
 
Brazil
 
Petrobras
 
Mid Mar 2010
 
Mid Mar 2015
 
219-221
 
Eligible for a maximum 15% performance bonus.
30
         
                                                   
 
Noble Paul Wolff
 
Noble EVA 4000™
 
1981/1999/2006
 
9,200'-DP
 
Brazil
 
Petrobras
 
Early Nov 2009
 
Early Nov 2014
 
427-429
 
Eligible for a maximum 15% performance bonus. Timing of survey subject to change.
7
  16
64
 
 
                                                   
 
Noble Therald Martin (b)
 
Pentagone 85
 
1977/2004
 
4,000'
 
Brazil
 
Petrobras
 
Mid Apr 2007
 
Mid Oct 2010
 
113-115
 
Eligible for a maximum of 15% performance bonus.
6
      45  
                 
Brazil
 
Petrobras
 
Mid Oct 2010
 
Mid Oct 2015
 
269-271
 
Eligible for a maximum of 10% performance bonus.
           
                                       
 
Brazil Drillships (3) (c )(h)
               
 
Noble Roger Eason (b)
 
NAM Nedlloyd-C
 
1977/2005
 
7,200'-DP
 
Brazil
 
Petrobras
 
Mid Mar 2010
 
Late Feb 2012
 
346-348
 
Eligible for a maximum of 15% performance bonus.
5
         
                 
Brazil
 
Petrobras
 
Late Feb 2012
 
Mid Oct 2012
 
89-91
 
Anticipate entering the shipyard for +/- 240 days for rig modifications, regulatory inspection, and sea trials, of which 150 days are expected to be paid at a dayrate of $89k-$91k.
           
                 
Brazil
 
Petrobras
 
Mid Oct 2012
 
Mid Aug 2016
 
346-348
 
Eligible for a maximum of 15% performance bonus.
           
                                                   
 
Noble Leo Segerius (b)
 
Gusto Engineering Pelican Class
 
1981/2002
 
5,600’-DP
 
Brazil
 
Petrobras
 
Late Jun 2009
 
Early Feb
2011
 
300-302
 
Eligible for a maximum of 15% performance bonus.
12
         
                 
Brazil
 
Petrobras
 
Early Feb
2011
 
Early Nov
2011
 
89-91
 
We expect to enter the shipyard four weeks earlier than expected.  Early arrival is not expected to impact the project end date. Anticipate +/- 240 days beginning in Early March 2011 for rig modifications, regulatory inspection, and sea trials, of which 150 days are expected to be paid at a dayrate of $89k-$91k.
     
34
   
33
 
92
                 
Brazil
 
Petrobras
 
Early Nov 2011
 
Late Jan 2016
 
300-302
 
Eligible for a maximum of 15% performance bonus.
           
                                                   
 
Noble Muravlenko
 
Gusto Engineering Pelican Class
 
1982/1997
 
4,900’-DP
 
Brazil
 
Petrobras
 
Early May 2009
 
Mid May
2015
 
289-291
 
Eligible for a maximum of 15% performance bonus.   Received MOU to swap the Noble Phoenix for the Noble Muravlenko to complete current Noble Muravlenko contract.  Expect substitution to take place in 4Q 2011.  Noble Muravlenko shipyard upgrade project cancelled.  The Petrobras Noble Muravlenko/Noble Phoenix swap is subject to Petrobras board approval and finalization of contract.
 
12
         
92
                                       
 
North Sea Semisubmersible (1)
               
 
Noble Ton van Langeveld
 
Offshore Co. SCP III Mark 2
 
1979/2000
 
1,500'
 
United Kingdom
 
Shipyard
 
Mid Sept 2010
 
Late Nov 2010
 
-
 
Entering the shipyard for rig modifications and regulatory inspection.
61
         
                 
United Kingdom
 
Centrica/Maersk
 
Early Dec 2010
 
Early Jul 2011
 
246-248
 
Plus five fixed-priced options.
           
                                       
 
North Sea/Mediterranean Semisubmersible (1)
               
 
Noble Homer Ferrington
 
F&G 9500 Enhanced Pacesetter
 
1985/2004
 
7,200
 
Malta
 
ExxonMobil
 
Mid Apr 2009
 
Mid Apr 2012
 
504-506
 
We have initiated arbitration proceedings with both ExxonMobil and BP with respect to an assignment of the drilling contract from ExxonMobil to BP.  Payment of the dayrate is subject to the resolution to this dispute.  The rig has been on standby since April 30, 2010 and continues to be on standby. Pending resolution of this dispute, the Company has been reserving the revenue stream.  Assignment to Repsol for 2 wells plus 2 priced options; program is estimated to begin on or about April 1, 2011 subject to final acceptance of the rig by Repsol.
           
                                       
 
North Sea Jackups (8)
               
 
Noble Hans Deul
 
F&G JU-2000E
 
2009
 
400'-IC
 
Netherlands
 
Shell
 
Early Feb 2009
 
Early Feb 2011
 
127-129
               
                 
United Kingdom
 
Shell
 
Early Feb 2011
 
Early Feb 2013
 
174-176
               
                                                   
 
Noble Julie Robertson
 
Baker Marine Europe Class
 
1981/2001
 
 390'-IC (e)
 
United Kingdom
 
Centrica
 
Mid Feb 2010
 
Mid Jan 2011
 
86-88
               
                 
United Kingdom
 
Shipyard
 
Mid Jan 2011
 
Late Mar 2011
 
-
 
Contract preparations.
   
66
     
                 
United Kingdom
 
Centrica
 
Early Apr 2011
 
Late Mar 2012
 
88-90
               
                 
 
                               
 
Noble Al White
 
CFEM T-2005-C
 
1982/2005
 
360’-IC
 
Netherlands
 
Total
 
Early Dec 2010
 
Early Jun 2011
 
111-113
 
Plus a six month priced option.
           
                                                   
 
Noble Byron Welliver
 
CFEM T-2005-C
 
1982
 
300’-IC
 
United Kingdom
 
ATP
 
Early Mar 2010
 
Mid Jan 2011
 
85-87
               
                 
United Kingdom
 
Shipyard
 
Late Jan 2011
 
Late May 2011
 
-
 
Available.
   
66
64
   
                 
Netherlands
 
Chevron
 
Early Jun 2011
 
Mid Nov 2011
 
88-91
 
Plus two priced option wells.
           
                                                   
 
Noble Lynda Bossler
 
MSC/CJ-46
 
1982
 
250’-IC
 
Netherlands
 
Shipyard
 
Early Sep 2009
 
Late Oct 2010
 
-
   
31
         
                 
Netherlands
 
Gaz de France/Wintershall
 
Early Nov 2010
 
Early Mar 2011
 
79-81
 
Plus a 35-day priced option.
           
                 
Netherlands
 
Shipyard
 
Mid Mar 2011
 
Late Mar 2011
 
-
       
 
     
                 
Netherlands
 
Dana (KNOC)
 
Early Apr 2011
 
Mid Oct 2011
 
87-89
 
Plus two 40-day options.
           
                                                   
 
Noble Piet van Ede
 
MSC/CJ-46
 
1982
 
250’-IC
 
Netherlands
 
Gaz de France
 
Late Feb 2010
 
Late Oct 2010
 
109-111
               
                 
Netherlands
 
Shipyard
 
Late Oct 2010
 
Late Nov 2010
 
-
   
25
         
                 
Netherlands
 
Gaz de France
 
Late Nov 2010
 
Late Nov 2011
 
85-87
               
                                                   
 
Noble Ronald Hoope
 
MSC/CJ-46
 
1982
 
250’-IC
 
Netherlands
 
Gaz de France
 
Late Feb 2010
 
Mid Dec 2010
 
92-94
 
Plus two priced option wells; estimated time to complete each well is +/- 60 days.
           
                 
Netherlands
 
Gaz de France
 
Mid Dec 2010
 
Late Dec 2011
 
86-88
               
                                                   
 
Noble George Sauvageau
 
NAM Nedlloyd-C
 
1981
 
250’-IC
 
Netherlands
 
Wintershall
 
Early Jan 2010
 
Late Dec 2010
 
117-119
               
                 
Netherlands
 
Wintershall
 
Early Jan 2011
 
Late Dec 2011
 
91-93
               
                                       
 
West Africa Drillship (1)
               
 
Noble Duchess
 
Conversion
 
1975
 
1,500'
 
Nigeria
 
NPDC
 
Mid Oct 2008
 
Early Nov 2010
 
307-309
               
                 
Nigeria
 
Shipyard
 
Early Nov 2010
     
-
 
Available.  The unit is currently warm stacked.
56
18
       
                                       
 
West Africa Jackups (5) (c )
               
 
Noble Percy Johns
 
F&G L-780 MOD II
 
1981/1995
 
300’-IC
 
Nigeria
 
ExxonMobil
 
Early Jul 2010
 
Late Jun 2012
 
84-86
 
2-years firm plus a 1-year priced option; which is subject to a 240-day notice of cancellation.   Rig was farmout to NOAC (Agip) with a completion date of 12/29/2010.  We anticipate the need to remove the unit from Nigeria or to a duty free zone for 30 days spanning the 4Q2010/1Q2011 in order to apply for a new temporary import permit.  Regulatory inspection; estimated time to complete +/- 31 days in 2Q 2011.
2
18
10
31    
                                                   
 
Noble Tommy Craighead
 
F&G L-780 MOD II
 
1982/2003
 
300’-IC
 
Cameroon
 
EurOil
 
Early May 2010
 
Early Mar 2011
 
89-91
 
Plus two priced option wells.  Anticipate entering the shipyard in early-mid March 2011 for regulatory inspection and upgrades.
   
31
61
   
                                                   
 
Noble Ed Noble
 
MLT Class 82-SD-C
 
1984/2003
 
250’-IC
 
Nigeria
 
ExxonMobil
 
Early Jul 2010
 
Late Jun 2012
 
84-86
 
2-years firm plus a 1-year priced option; which is subject to a 240-day notice of cancellation.  We anticipate the need to remove the unit from Nigeria or to a duty free zone for 30 days in the 1Q2011 in order to apply for a new temporary import permit.
   
30
     
                                                   
 
Noble Lloyd Noble
 
MLT Class 82-SD-C
 
1983/1990
 
250’-IC
 
Cameroon
 
Shipyard
 
Mid Aug 2010
 
Mid Oct 2010
 
-
 
Available.
15
         
                 
Nigeria
 
NOAC (Agip)
 
Mid Oct 2010
 
Early Jan 2011
 
89-91
               
                 
Cameroon
 
Shipyard
 
Early Jan 2011
 
Mid Feb 2011
 
-
     
18
32
     
                 
Nigeria
 
Addax
 
Mid Feb 2011
 
Late Aug 2011
 
83-85
 
Received letter of intent plus one 6-month option; subject to finalizing contract and temporary import permit.
           
                                                   
 
Noble Don Walker
 
Baker Marine BMC 150-SD
 
1982/1992
 
150’-IC
 
Cameroon
 
Shipyard
 
Mid Mar 2009
     
-
 
Available.  The unit is currently cold stacked.
92
18
       
 
Changes from last Fleet Status Report denoted by Red, Bold, Underlined type.
 
 
Page 2 of 4

 
 
 
NOBLE CORPORATION AND SUBSIDIARIES FLEET STATUS REPORT - January 18, 2011
 
.
   
Approximate actual and estimated unpaid down time days *
 
RIG
 
RIG DESIGN
 
YEAR BUILT / REBUILT
 
WATER DEPTH
 
LOCATION
 
OPERATOR
 
ESTIMATED CONTRACT START DATE
 
ESTIMATED CONTRACT EXPIRATION DATE
 
FULL CONTRACT DAYRATE ($000)
 
COMMENTS
4Q-10
1Q-11
1Q-11
2Q-11
3Q-11
4Q-11
                                       
A
A
E
E
E
E
This fleet status report contains information on contracts and letters of intent or awards with our customers.  Letters of intent or awards are noted in the comments section and may not result in an actual drilling contract. The information contained in this fleet status report is as of the date of the report only and is subject to change without notice to the recipient, and we assume no duty to update any portion of the information contained herein.  This fleet status report contains statements that are not historical facts, which are “forward-looking statements” within the meaning of the U.S. federal securities laws.  Forward-looking statements include, but are not limited to, statements about estimated duration of client contracts, contract dayrate amounts, future contract commencement dates, shipyard projects, our business, financial performance and prospects.  Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to have been correct.  Various factors could cause actual results to differ materially.
 
Full Contract Dayrate reflects the full daywork operating rate payable to the Company by the operator as provided in the applicable drilling contract unless otherwise specified.  The average dayrate over the term of the contract will be lower and could be substantially lower.  The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond our control.  Our client contracts and operations are generally subject to a number of risks and uncertainties.  We discuss these factors, including risks, uncertainties and assumptions concerning actions by our clients, governments and other third parties, drilling activity levels, market conditions, operational difficulties, weather related events and other matters, from time to time in our filings with the U.S. Securities and Exchange Commission (“SEC”), which we urge you to review and which are available free of charge on the SEC’s Web site at www.sec.gov.
 
 
Arabian Gulf Jackups (14) (c )
               
 
Noble Scott Marks
 
F&G JU-2000E
 
2009
 
400'-IC
 
Netherlands
 
Centrica
 
Early Sep 2010
 
Mid Jan 2011
 
212-214
               
                 
UAE (Hamriyah)
 
Shipyard
 
Mid Jan 2011
 
Late Jun 2011
 
-
 
Mobilization and contract preparation.
    75
91
   
                 
Saudi Arabia
 
Saudi Aramco
 
Late Jun 2011
 
Late Jun 2014
 
236-238
 
Plus lump sum mobilization and capital upgrades.  Customer may cancel this contract for convenience with 30 days notice, but must pay a termination fee of 50% of the dayrate for the remaining contracted time.
           
                                                   
 
Noble Roger Lewis
 
F&G JU-2000E
 
2007
 
400'-IC
 
UAE (Hamriyah)
 
Shipyard
 
Late Apr 2010
 
Mid Feb 2011
 
-
 
Installation of leg extensions; upgrading steel, and contract preparation.
92
18
27
     
                 
Saudi Arabia
 
Saudi Aramco
 
Mid Feb 2011
 
Mid Feb 2014
 
131-133
 
Plus lump sum mobilization and capital upgrades.  Customer may cancel this contract for convenience with 30 days notice, but must pay a termination fee of 50% of the dayrate for the remaining contracted time.
           
                                                   
 
Noble Jimmy Puckett
 
F&G L-780 MOD II
 
1982/2002
 
300'-IC
 
Qatar
 
RasGas
 
Early Apr 2010
 
Early Apr 2012
 
71-73
 
Contract is subject to 120-day notice of cancellation.  Plus a two-year priced option.
           
                                                   
 
Noble Gus Androes
 
Levingston Class 111-C
 
1982/2004
 
300'-IC
 
Qatar
 
Maersk Oil Qatar
 
Mid Aug 2009
 
Mid Dec 2010
 
49-51
 
Rig substitution for Noble David Tinsley contract; rig to serve as an accommodation.
           
                 
Qatar
 
Maersk Oil Qatar
 
Mid Dec 2010
 
Late Mar 2011
 
51-53
 
Rig to serve as an accommodation.  Plus three two-month priced options.
         
60
                                                   
 
Noble Harvey Duhaney
 
Levingston Class 111-C
 
1976/2001
 
300'-IC
 
Qatar
 
Total
 
Early Jun 2010
 
Early Dec 2011
 
59-61
 
Contract is subject to a 60-day notice of cancellation.  Plus two six-month priced options.
           
                                                   
 
Noble Alan Hay
 
Levingston Class 111-C
 
1980/2005
 
300'-IC
 
UAE (Dubai)
 
Dubai Petroleum
 
Mid Oct 2009
 
Mid Nov 2011
 
#
 
Rate withheld at request of operator.  Contract is subject to a 90-day notice of cancellation.
           
                                                   
 
Noble Roy Rhodes
 
MLT Class 116-C
 
1979/2009
 
300’-IC
 
Qatar
 
Total E&P Qatar
 
Mid Sep 2010
 
Mid Feb 2011
 
59-61
 
Work over program.
           
                 
UAE (Hamriyah)
 
Shipyard
 
Mid Feb 2011
 
Late Mar 2011
 
-
 
Contract preparation; including adding additional leg length.
     
45
     
             
328'-IC
 
Ras Al Khalmah
 
RAK Al Khalij
 
Early Apr 2011
 
Mid May 2011
 
88-90
 
Plus up to 150-day priced option.
           
                 
Oman
 
RAK Petroleum Oman
 
Mid May 2011
 
Mid Oct 2011
 
92-94
 
Plus up to 200-day priced option.
           
                                                   
 
Noble Joe Beall
 
Modec 300C-38
 
1981/2004
 
300'-IC
 
Qatar
 
McDermott
 
Late Sep 2010
 
Early Nov 2010
 
10-12
 
Received contract - standby rate.
           
                 
Qatar
 
McDermott
 
Early Nov 2011
 
Mid May 2011
 
53-55
 
Accommodation work.
           
                                                   
 
Noble David Tinsley
 
Modec 300C-38
 
1981/2004
 
300'-IC
 
UAE (Hamriyah)
 
Shipyard
 
Early May 2009
 
Early Dec 2010
 
-
 
Estimated timing for leg repair/replacement; then available.  The unit is currently warm stacked.
24
18
       
                                                   
 
Noble Gene House
 
Modec 300C-38
 
1981/1998
 
300'-IC
 
Qatar
 
Maersk Oil Qatar
 
Late May 2009
 
Mid Dec 2010
 
47-49
 
Accommodation work.
           
                 
Qatar
 
Maersk Oil Qatar
 
Mid Dec 2010
 
Late Mar 2011
 
49-51
 
Accommodation work. Plus one one-month priced option.
           
                                                   
 
Noble Charles Copeland
 
MLT Class 82-SD-C
 
1979/2001
 
280’-IC
 
UAE (Hamriyah)
 
Shipyard
 
Early Dec 2009
     
-
 
Available.  The unit is currently warm stacked.
92
18
       
                                                   
 
Noble Chuck Syring
 
MLT Class 82-C
 
1976/1996
 
250’-IC
 
Qatar
 
RasGas
 
Early Feb 2010
 
Early Feb 2012
 
47-49
 
Accommodation work; plus one one-year priced option.  Contract is subject to a 120-day notice of cancellation.
           
                                                   
 
Dhabi II
 
Baker Marine BMC 150
 
1982/2006
 
150'-IC
 
UAE (Abu Dhabi)
 
ADOC
 
Mid Jul 2008
 
Mid Jul 2011
 
91-93
             
14
 
                                                   
 
Noble Dick Favor
 
Baker Marine BMC 150
 
1982/2004
 
150'-IC
 
UAE (Hamriyah)
 
Shipyard
 
Mid Feb 2010
     
-
 
Available.  The unit is currently cold stacked.
92
18
       
                                       
 
India Jackups (4) (c, d)
               
 
Noble Ed Holt
 
Levingston Class 111-C
 
1981/2003
 
300’-IC
 
India
 
Jindal/ONGC
 
Late Feb 2010
 
Late Feb 2015
 
54-56
 
Rig bareboat chartered to Jindal which is contracted with ONGC.
           
                                                   
 
Noble George McLeod
 
F&G L-780 MOD II
 
1981/1995
 
300’-IC
 
India
 
Jindal/ONGC
 
Early Jan 2009
 
Early Jan 2012
 
132-134
 
Rig bareboat chartered to Jindal which is contracted with ONGC.
           
                                                   
 
Noble Charlie Yester
 
MLT Class 116-C
 
1980
 
300’-IC
 
India
 
Jindal/ONGC
 
Early Jun 2010
 
Early Jun 2013
 
49-51
 
Rig bareboat chartered to Jindal which is contracted with ONGC.
           
                                                   
 
Noble Kenneth Delaney
 
F&G L-780 MOD II
 
1983/1998
 
300'-IC
 
India
 
Deepwater Drilling/ONGC
 
Early Oct 2010
 
Late Sep 2013
 
49-51
 
Rig bareboat chartered to Deepwater Drilling which is contracted with ONGC.
           
                                       
 
Southeast Asia Drillship (2)
               
 
Noble Phoenix
 
Gusto Engineering Pelican Class
 
1979/2009
 
5,000' DP
 
Brunei
 
Shell
 
Late Jun 2010
 
Late Oct 2010
 
243-245
               
                 
Brunei
 
  Shell  
Late Oct 2010
 
 
Mid Feb 2011
 
 
339-341
               
                 
Shipyard & In-transit & acceptance testing
 
Noble
 
Mid Feb 2011
 
4Q 2011
 
-
 
Received MOU to swap the Noble Phoenix for the Noble Muravlenko to complete current Noble Muravlenko contract.  Expect substitution to take place in 4Q 2011.  Remainder of Noble Phoenix contract with Shell is cancelled.  The Petrobras Noble Muravlenko/Noble Phoenix swap is subject to Petrobras board approval and finalization of contract.
     
45
 
91
 
92
 
                                                   
 
Noble Discoverer
 
Arctic Class Hull ICE-05; Sonat Discoverer Class
 
1976/2009
 
1,000'
 
Shipyard
 
Shell
 
Mid Jul 2007
 
Late Dec 2010
 
154-156
 
Rate is subject to escalation adjustments.
           
                 
New Zealand
 
Shell
 
Early Jan 2011
 
Early May 2011
 
154-156
               
                 
TBA
 
Shell
 
Early May 2011
 
Mid Nov 2011
 
154-156
 
Plus two one-year priced options.
           
 
Changes from last Fleet Status Report denoted by Red, Bold, Underlined type.
 
 
Page 3 of 4

 
 
 
NOBLE CORPORATION AND SUBSIDIARIES FLEET STATUS REPORT - January 18, 2011
 
.
     
Approximate actual and estimated unpaid down time days *
 
RIG
 
RIG DESIGN
 
YEAR BUILT / REBUILT
 
WATER DEPTH
 
LOCATION
 
OPERATOR
 
ESTIMATED CONTRACT START DATE
 
ESTIMATED CONTRACT EXPIRATION DATE
 
FULL CONTRACT DAYRATE ($000)
 
COMMENTS
 
4Q-10
1Q-11
1Q-11
2Q-11
3Q-11
4Q-11
                                         
A
A
E
E
E
E
This fleet status report contains information on contracts and letters of intent or awards with our customers.  Letters of intent or awards are noted in the comments section and may not result in an actual drilling contract. The information contained in this fleet status report is as of the date of the report only and is subject to change without notice to the recipient, and we assume no duty to update any portion of the information contained herein.  This fleet status report contains statements that are not historical facts, which are “forward-looking statements” within the meaning of the U.S. federal securities laws.  Forward-looking statements include, but are not limited to, statements about estimated duration of client contracts, contract dayrate amounts, future contract commencement dates, shipyard projects, our business, financial performance and prospects.  Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to have been correct.  Various factors could cause actual results to differ materially.
 
Full Contract Dayrate reflects the full daywork operating rate payable to the Company by the operator as provided in the applicable drilling contract unless otherwise specified.  The average dayrate over the term of the contract will be lower and could be substantially lower.  The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond our control.  Our client contracts and operations are generally subject to a number of risks and uncertainties.  We discuss these factors, including risks, uncertainties and assumptions concerning actions by our clients, governments and other third parties, drilling activity levels, market conditions, operational difficulties, weather related events and other matters, from time to time in our filings with the U.S. Securities and Exchange Commission (“SEC”), which we urge you to review and which are available free of charge on the SEC’s Web site at www.sec.gov.
 
 
Newbuild Drillship (5)
                 
 
Noble Globetrotter I - Newbuild
 
Globetrotter Class
 
2011
 
10,000'-DP
 
Dalian, China - STX / Netherlands - Huisman
 
Shipyard
     
Mid Oct 2011
 
-
                 
                 
In-transit & acceptance testing
     
Mid Oct 2011
 
Late Dec 2011
 
-
                 
                 
US GOM
 
Shell
 
Early Jan 2012
 
Late Dec 2021
 
409-411
 
Contract is at a fixed dayrate the first five years and is eligible for a 15% performance bonus.  During the second five years, the unit will earn a dayrate based on a market index and also be eligible for a 15% performance bonus.
             
                                                     
 
Noble Globetrotter II - Newbuild
 
Globetrotter Class
 
2013
 
10,000'-DP
 
Dalian, China - STX / Netherlands - Huisman
 
Shipyard
     
Early Jun 2013
 
-
                 
                 
In-transit & acceptance testing
     
Early Jun 2013
 
Late Oct 2013
 
-
                 
                 
TBA
 
Shell
 
Early Nov 2013
 
Late Oct 2023
 
409-411
 
Contract is at a fixed dayrate the first five years and is eligible for a 15% performance bonus.  During the second five years, the unit will earn a dayrate based on a market index and also be eligible for a 15% performance bonus.
             
                                                     
 
Noble Bully I (g) - Newbuild
 
GustoMSC Bully PRD 12000
 
2011
 
8,200'-DP
 
Keppel
 
Shipyard
     
Mid Jul 2011
                     
                 
In-transit & acceptance testing
     
Late Jul 2011
 
Late Nov 2011
                     
                 
US GOM
 
Shell
 
Late Nov 2011
 
Late Nov 2016
 
440-445
 
Plus four 1-year priced options.
             
                                                     
 
Noble Bully II (g) - Newbuild
 
GustoMSC Bully PRD 12000
 
2011
 
8,200'-DP
 
Keppel
 
Shipyard
     
Late Sep 2011
                     
                 
In-transit & acceptance testing
     
Early Oct 2011
 
Mid Dec 2011
      Actual start-up time will be influenced by the length of the customs importation process.              
                 
Brazil
 
Shell
 
LateDec 2011
 
LateDec 2021
 
440-445
 
Contract is at a fixed dayrate the first five years.  During the second five years, the unit will earn a dayrate based on a market index and also be eligible for a 15% performance bonus.
             
                                                     
  Shell Drillship Letter of Intent     TBA     TBA  
8,500'-DP
 
TBA
 
Shell
  Second half of 2013  
 Late 2018
   409-411   Eligible for a 15% performance bonus.  Actual unit to be determined. Drilling contract term is 5 1/2 years subject to Shell board approval.               
                                                     
 
Newbuild Jackups (2)
                                                 
                                                     
 
Noble Jackup I - Newbuild
 
F&G JU-3000N
 
2012
 
400'-IC
 
Jurong
 
Shipyard
     
Late Dec 2012
                     
                 
In-transit & acceptance testing
     
Early Jan 2013
 
Early May 2013
                     
                 
TBA
 
TBA
 
TBA
 
TBA
 
TBA
 
Options for up to four additional units which must be exercised by January 1, 2012.  Each option unit may be priced individually and is priced based on the original unit price, plus a potential escalation factor, with future deliveries scheduled in six-month increments beginning in late 2013.
             
                                                     
 
Noble Jackup II - Newbuild
 
F&G JU-3000N
 
2013
 
400'-IC
 
Jurong
 
Shipyard
     
Late Jun 2013
                     
                 
In-transit & acceptance testing
     
Early Jul 2013
 
Early Dec 2013
                     
                 
TBA
 
TBA
 
TBA
 
TBA
 
TBA
                 
                                       
 
Other (1)
                 
 
Seillean - FPSO
 
A1 Floating Production & Storage Installation LMC, category 2B ship
 
1989/2008
 
6,500'-DP
 
US GOM
 
BP
 
Late Jul 2010
 
Late Oct 2010
 
303-305
 
As previously disclosed, we are in a dispute with BP over amounts owed under the contract, although we believe we have satisfied our obligations under the charter and are owed the amounts due under the charter.  Based on the available information and the analysis we have performed to date, we have recorded the revenue under this charter.
             
                         
Late Oct 2010
     
-
 
Available.  The unit is currently warm stacked.
 
61
         
                                                     
     
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
             
                                          
1176
324
477
402
202
244
(a)
Unit has been upgraded to the NC-5SM mooring standard.
   
(b)
Rig utilizes the Aluminum Alloy Riser technology.
   
(c)
In various market segments, the Company contracts with certain parties for the provision of certain local services and advice.  Compensation paid to such parties by the Company typically is based on a percentage of the drilling contract’s daywork operating rate, and the Company accounts for such payments in its financial statements in the contract drilling services operating costs and expenses line item.
 
Fourth Quarter 2010 Total: (includes: shipyard, stacked and downtime days.)
 
1176
 
(d)
Listed rigs are modified bareboat charter; cost structure varies by region.
   
(e)
Leg extensions fabricated to enable the rig to operate in up to 390' of water in a non-harsh environment.
 
2011 Total: (includes: shipyard, stacked and downtime days.)
 
1649
 
(f)
Rig is currently equipped to operate in 250' of water.  Leg extensions fabricated to enable the rig to operate in up to 300' of water.
   
(g)
Commitment split 50/50 - Joint Venture between Shell and Noble Corp.
   
(h)
The drilling contract provides the client with the right to terminate the contract in the event of excessive downtime.
   
                                       
*
A = Actual approximate downtime incurred during the quarter indicated as of the report date;  E = Estimated additional downtime days expected to occur as of the report date.
   
                                       
 # =
Rate withheld at request of operator.
   
                                       
Definitions of Date Ranges:
   
 
Early:  1st - 10th
   
 
Mid:  11th - 20th
   
 
Late:  21st - End of Month.
   
                                       
 
Changes from last Fleet Status Report denoted by Red, Bold, Underlined type.
 
 
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