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Exhibit 99.1

 

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Ensco plc

Fleet Status Report

16 September 2011

 

Monthly Changes

Bolded rig names and underlined text signify changes in rig status from previous report.

 

Segment /

Region / Rig

   Design    Water
Depth’(1)
   Customer/Status    Day Rate
$000’s US
   Location    Est. Avail /
Contract
Change
  

Comments

Deepwater

                    

North & South America (excluding Brazil) - See Definitions and Disclaimers

        

ENSCO DS-3

   Drillship, DP3

Samsung

   10000/12000    BP    High 480s    U.S.
Gulf of
Mexico
   Jun. 16    Plus cost adjustments

ENSCO DS-5

   Drillship, DP3

Samsung

   10000/12000    Petrobras    Mid 430s    U.S.
Gulf of
Mexico
   Jul. 16    Eligible for bonus opportunity up to 17%, plus cost adjustments

ENSCO 8500

   Semisubmersible

DP

   8500/10000    Eni/
Anadarko
   Mid 290s    U.S.
Gulf of
Mexico
   Aug. 13    Lump sum payment of $20 million and one-time reimbursable costs of $27 million amortized over primary contract term, which equals approx. $31,000 per day. Plus cost adjustments and four 1-year same-rate options

ENSCO 8501

   Semisubmersible

DP

   8500/10000    Nexen/
Noble
Energy
   Mid 370s    U.S.
Gulf of
Mexico
   Jun. 13    Currently allocated to Noble. For Nexen's allocation of rig time, see U.S. Gulf of Mexico on Definitions and Disclaimers page. Mob and upgrade costs are reimbursed by Noble and Nexen at approx. $19,000 per day over primary contract term. Plus cost adjustments and unpriced options

ENSCO 8502

   Semisubmersible

DP

   8500/10000    Nexen    High 480s    U.S.
Gulf of
Mexico
   Jun. 13    Plus approx. $35,000 per day for reimbursable mobilization expenses and upgrades amortized over 2-year term contract. Plus cost adjustments

ENSCO 8503(2)

   Semisubmersible

DP

   8500/10000    Tullow/
Cobalt
   High 430s    French
Guiana
   Nov. 11   

Then estimate 25 day demob at 75% of day rate (i.e. mid 320s). Then 21 days at special Cobalt rate of low 210s for upgrades. Then expect to commence original 2-year term contract with Cobalt in U.S. Gulf of Mexico, low 530s, plus reimbursable expenses and upgrades to be amortized over Cobalt's primary contract term of approx. $54,000 per day once term contract commences

Brazil

                    

ENSCO DS-4

   Drillship, DP3

Samsung

   10000/12000    BP    Mid 540s    Brazil    May 16    Plus cost adjustments

ENSCO 7500

   Semisubmersible

DP

   8000    Contracted/sea
trials
      Brazil    Oct. 11    Next to Petrobras to May 14, low 320s. Eligible for bonus opportunity up to 5%. Plus mob and upgrade costs to be amortized over contract at approx. $20,000 per day. Plus cost adjustments

ENSCO 6001

   Semisubmersible
- DP Amethyst 2
   5700    Petrobras    Mid 270s    Brazil    Jun. 13    Eligible for bonus opportunity up to 15%, plus cost adjustments

ENSCO 6002

   Semisubmersible
- DP Amethyst 2
   5700    Petrobras    Mid 270s    Brazil    Jul. 13    Eligible for bonus opportunity up to 15%, plus cost adjustments

ENSCO 6003

   Semisubmersible
- DP Amethyst 2
   5700    Petrobras    High 310s    Brazil    Jan. 17    Planned shipyard work in 3Q 11 for approx. 50 days. Eligible for bonus opportunity up to 15%, plus cost adjustments

ENSCO 6004

   Semisubmersible
- DP Amethyst 2
   5700    Petrobras    High 310s    Brazil    Oct. 16    Eligible for bonus opportunity up to 15%, plus cost adjustments

Europe & Mediterranean

                 

ENSCO 5006

   Semisubmersible
- Conv Bingo
8,000
   6200/7500    Noble
Energy
   ————    Israel    Jan. 12    Zero rate for all of 3Q due to unplanned downtime. Addressing downtime issues with customer. Currently expect to return to full rate (mid 270s) late Oct. 11. Plus cost adjustments and five 1-well same price options

Middle East & Africa

                 

ENSCO DS-1

   Drillship - DP
Gusto 10,000
   6000/10000    TOTAL    Mid 190s    Angola    Mar. 15    Rate increases mid Dec. 11, low 350s. Plus options and cost adjustments. Planned shipyard upgrade and inspection 3Q 2012 for approx. 90 days at zero rate. Eligible for bonus opportunity up to 7% to Dec. 11 and up to 5% thereafter

ENSCO DS-2

   Drillship - DP
Gusto 10,000
   6000/10000    TOTAL    Mid 460s    Angola    Jul. 13    Eligible for bonus opportunity up to 5%, plus cost adjustments

ENSCO 5001

   Semisubmersible
- Conv Sonat
   5000/6500    Shipyard       Angola    Sep. 11    Next to Maersk mid Sep.11 to Mar. 12, mid 270s. Plus one 1-well same price option. Then to PetroSA in South Africa to Mar. 14, mid 270s. Plus two 1-well options, low 320s

 

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Ensco plc

Fleet Status Report

16 September 2011

 

 

 

Segment /

Region / Rig

   Design    Water
Depth’(1)
   Customer/Status    Day Rate
$000’s US
   Location    Est. Avail /
Contract
Change
  

Comments

Deepwater

                    

Asia & Pacific Rim

                 

ENSCO 8504

   Semisubmersible

DP

   8500/10000    TOTAL    Mid 420s    Brunei    Mar. 12    Plus options. Mob and upgrade costs amortized over contract at approx. $94,000 per day

Under Construction - uncontracted

              

ENSCO DS-6

   Drillship, DP3

Samsung

   10000/12000    Under
construction
      South
Korea
   Dec.11   

ENSCO DS-7

   Drillship, DP3

Samsung

   10000/12000    Under
construction
      South
Korea
   2H13   

ENSCO 8505

   Semisubmersible

DP

   8500/10000    Under
construction
      Singapore    1Q12   

ENSCO 8506

   Semisubmersible

DP

   8500/10000    Under
construction
      Singapore    2H12   

 

(1) 

For rigs that may be modified to drill in deeper water depths, both the currently outfitted and maximum upgrade capabilities are shown.

(2) 

While ENSCO 8503 has earned a sublet day rate since its successful completion of acceptance testing, the original two-year contract has not yet commenced. Therefore, mobilization from the shipyard and other related reimbursements are not yet being recognized in revenue.

 

Page 2 of 6


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Ensco plc

Fleet Status Report

16 September 2011

 

 

 

Segment /

Region / Rig

   Design    Water
Depth’ (1)
   Customer/
Status
   Day Rate
$000’s US
   Location    Est. Avail /
Contract
Change
  

Comments

Midwater

                    

Brazil

                    

ENSCO 5000

   Semisubmersible

- Conv Neptune
Pentagon

   2300/2650    Petrobras    Low 240s    Brazil    Jul. 13    Eligible for bonus opportunity up to 15%, plus cost adjustments

ENSCO 5002

   Semisubmersible

- Conv Aker H-3

   1000    OGX    Mid 260s    Brazil    Nov. 13    Rate changes Nov. 11 to low 200s. Planned shipyard inspection mid Dec. 11 for approx. 70 days. Then rate changes Nov. 12 to low 220s

ENSCO 5004

   Semisubmersible

- Conv F & G
Enhanced

Pacesetter

   1500    OGX    Mid 260s    Brazil    Nov. 13    Rate changes Nov. 11 to low 220s and Nov. 12 to mid 230s

ENSCO 5005

   Semisubmersible

- Conv F & G
Enhanced

Pacesetter

   1500/1700    Petrobras    Mid 230s    Brazil    Apr. 13    Eligible for bonus opportunity up to 10%, plus cost adjustments

ENSCO 6000

   Semisubmersible

- DP Amethyst

   3400/4000    Petrobras    Low 150s    Brazil    Feb. 12    Currently outfitted for workover activity. Eligible for bonus opportunity up to 18%, plus cost adjustments

Middle East & Africa

              

ENSCO 5003

   Semisubmersible

- Conv Aker H-3

   1000    SOCO    Mid 180s    Congo    Jan. 12    Plus one 1-well same rate option

 

Page 3 of 6


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Ensco plc

Fleet Status Report

16 September 2011

 

 

 

Segment / Region /
Rig

   Design    Water
Depth'
   Customer/ Status    Day Rate
$000's US
   Location    Est. Avail/
Contract
Change
  

Comments

Jackups

                    

North & South America (excluding Brazil)

           

U.S. Gulf of Mexico -See Definitions and Disclaimers

           
ENSCO 59    F&G    300    Cold stacked       Gulf of Mexico      
ENSCO 68    MLT 84-CE    400    Chevron    Low 100s    Gulf of Mexico    Jan. 12    Day rate does not include certain extra reimbursable costs
ENSCO 69    MLT 84-Slot    300    Cold stacked       Gulf of Mexico      
ENSCO 75    MLT Super 116-C    400    Apache    Low 100s    Gulf of Mexico    Oct. 11   
ENSCO 81    MLT 116-C    350    Cimarex    Low 80s    Gulf of Mexico    Oct. 11   
ENSCO 82    MLT 116-C    300    Chevron    High 70s    Gulf of Mexico    Jan. 12    Day rate does not include certain extra reimbursable costs
ENSCO 86    MLT 82 SD-C    250    Apache    Mid 60s    Gulf of Mexico    Jan. 12   

——————————

ENSCO 87    MLT 116-C    350    Apache    Low 80s    Gulf of Mexico    Oct. 11   
ENSCO 90    MLT 82 SD-C    250    Arena Energy    High 50s    Gulf of Mexico    Nov.11   

Rate increases mid

Sep. 11, low 60s

ENSCO 99    MLT 82 SD-C    250    Available       Gulf of Mexico      
Pride Wisconsin    MLT-Slot    300    Cold stacked       Gulf of Mexico      

Mexico

                    
ENSCO 83    MLT 82 SD-C    250    Pemex    Low 110s    Mexico    Nov. 12    Plus cost adjustments
ENSCO 89    MLT 82 SD-C    250    Pemex    High 70s    Mexico    Mar. 12    Rates adjust to global index rate every 3 months (next Nov. 11)
ENSCO 93    MLT 82 SD-C    250    Pemex    High 80s    Mexico    Mar. 12    Rates adjust to global index rate every 3 months (next Oct. 11)
ENSCO 98    MLT 82 SD-C    250    Pemex    Low 110s    Mexico    Apr. 12    Plus cost adjustments

Europe & Mediterranean

           

North Sea

                    
ENSCO 70    Hitachi K1032N    250    PA Resources    High 80s    Denmark    Oct. 11    Next to Tullow to Feb. 12, low 90s. Then to RWE Dea to Dec. 12, high 80s. Plus five 1-well unpriced options
ENSCO 71    Hitachi K1032N    225    Maersk    High 80s    Denmark    Mar. 12    Plus three 1-year options at escalating day rates
ENSCO 72    Hitachi K1025N    225    Maersk    High 80s    Denmark    Jun. 12    Plus three 1-year options at escalating day rates
ENSCO 80    MLT 116-CE    225    Wintershall    Low 90s    UK    Feb. 12    Plus one 1-well unpriced option deferred to after EOG. Then to Dana to Apr. 12, low 100s. Then to Perenco to Jul. 12, mid 90s, plus one 1-well same rate option. Then to EOG to Feb. 13, high 90s, plus one 2-well unpriced option
ENSCO 92    MLT 116-C    225    E.ON    Low 100s    UK    Oct. 11    Next to Ithaca to Dec. 11, low 100s. Then to RWE Dea to Sep. 12, high 80s. Plus three 1-well unpriced options
ENSCO 100    MLT 150-88-C    350    E.ON    Mid 130s    UK    Feb. 12    Plus three 1-well unpriced options
ENSCO 101    KFELS MOD V-A    400    Maersk    Low 170s    UK    Feb. 12    Plus cost adjustments and one unpriced option
ENSCO 102    KFELS MOD V-A    400    ConocoPhillips    Low 200s    UK    Jun. 16    Rate firm for 8 wells (est. 3 years) thereafter at mutually agreed rate. Plus unpriced options

Mediterranean

                    
ENSCO 85    MLT 116-C    300    PA Resources    Mid 90s    Tunisia    Oct.11   

 

Page 4 of 6


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Ensco plc

Fleet Status Report

16 September 2011

 

 

Segment /

Region / Rig

   Design    Water
Depth’
   Customer/ Status    Day Rate
$000’s US
   Location    Est. Avail /
Contract
Change
  

Comments

Jackups

                    

Middle East & Africa

                 

Middle East

                    

ENSCO 54

   F&G L-780 Mod II-C    300    ADOC/Bunduq    High 50s    UAE    Jun. 12    Rate increases Feb. 12 to high 60s. Plus cost adjustments and well-to-well unpriced options

ENSCO 58

   F&G    250    Saudi Aramco    Mid 60s    KSA    Dec. 13    Plus one 1-year same rate option

ENSCO 76

   MLT Super 116-C    350    Saudi Aramco    Low 100s    Saudi Arabia    Jun. 14    Planned shipyard upgrade early Oct. 11 for approx. 40 days at zero rate. Plus one 1-year option, high 150s

ENSCO 84

   MLT 82 SD-C    250    Contracted/
shipyard
      Bahrain    Oct. 11    Next to Saudi Aramco to Oct. 14, low 60s. Planned shipyard upgrade mid 2012 for approx. 80 days at zero rate. Plus one 1-year option, mid 70s

ENSCO 88

   MLT 82 SD-C    250    Ras Gas    Mid 60s    Qatar    Mar. 12    Plus multiple options at escalating rates

ENSCO 91

   Hitachi    270    Saudi Aramco    High 60s    KSA    Jul. 14    Planned shipyard upgrade early Mar. 12 for approx. 90 days at zero rate. Plus one 1-year option, mid 90s

ENSCO 94

   Hitachi 250-C    250    Ras Gas    Mid 60s    Qatar    Jan. 13    Plus multiple options at escalating rates

ENSCO 96

   Hitachi 250-C    250    Contracted/
shipyard
      Bahrain    Oct. 11    Next to Saudi Aramco to Oct. 14, low 60s. Planned shipyard upgrade mid 2012 for approx. 80 days at zero rate. Plus one 1-year option, mid 70s

ENSCO 97

   MLT 82 SD-C    250    Contracted/
shipyard
      Bahrain    Oct. 11    Next to Saudi Aramco to Oct. 14, low 60s. Planned shipyard upgrade mid 2012 for approx. 80 days at zero rate. Plus one 1-year option, mid 70s

Pride Hawaii

   Levingston    300    Cold stacked       Bahrain      

Pride Pennsylvania

   MLT    300    Cold stacked       Bahrain      
                    

Africa

                    

ENSCO 61

   Levingston    300    Perenco    High 80s    Cameroon    Oct. 11    Plus two 1-well same rate options
                 

Asia & Pacific Rim

                 

Southeast Asia / Australia

                 

ENSCO 52

   F&G L-780 Mod II-C    300    Petronas Carigali    Mid 70s    Malaysia    Apr. 13    Planned shipyard inspection approx. 10 days Oct. 11. Plus one 1-year unpriced option

ENSCO 53

   F&G L-780 Mod II-C    300    Murphy    Mid 70s    Malaysia    Sep. 11    Next expect to work to Dec. 11, high 70s. Then expect to work to Mar. 12, low 80s

ENSCO 56

   F&G L-780 Mod II-C    300    Pertamina    Mid 70s    Indonesia    Apr. 13    Plus one 6-month unpriced option

ENSCO 67

   MLT 84-CE    400    Pertamina    Low 100s    Indonesia    Jan. 13    Plus one 8-month unpriced option

ENSCO 104

   KFELS MOD V-B    400    Contracted/
Shipyard
   ------------    Singapore    Nov. 11    Next to Apache in Australia to Nov. 12, mid 140s. Upgrades amortized over Apache’s 1-year term contract of approx. $3,000 per day. Plus one 1-year unpriced option

ENSCO 105

   KFELS MOD V-B    400    Talisman    Mid 120s    Malaysia    Aug. 12    Two 1-year unpriced options. Upgrades amortized over Talisman’s primary contract term of approx. $6,000 per day

ENSCO 106

   KFELS MOD V-B    400    Newfield    Low 120s    Malaysia    Oct. 12    Upgrades amortized over Newfield’s remaining contract term of approx. $4,000 per day

ENSCO 107

   KFELS MOD V-B    400    Premier Oil    Low 110s    Vietnam    Jan. 12    Plus five 1-well options at index rate

ENSCO 108

   KFELS MOD V-B    400    TOTAL    High 120s    Brunei    Jan. 12    Next planned shipyard inspection for approx. 2 weeks

ENSCO 109

   KFELS MOD V-
Super B
   350    Apache    Low 150s    Australia    Sep. 11    Next move to standby location to Oct. 11, mid 80s. Then mob to PTTEP for work to Mar. 12, mid 160s

Under Construction - uncontracted

              

TBD 1

   KFELS Super A    400    Under construction       Singapore    2Q13   

TBD 2

   KFELS Super A    400    Under construction       Singapore    4Q13   

 

Page 5 of 6


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Ensco plc

Fleet Status Report

16 September 2011

 

 

 

Rig

   Design    Water
Depth' (1)
   Customer/Status    Day Rate
$000's US
   Location    Est. Avail /
Contract
Change
  

Comments

                    

Other

                    
              

Deepwater Drilling Management

              
Kizomba    Deepwater TLP
Drilling Rig
   5000    ExxonMobil    Mid 70s    Angola    Apr. 15   

Thunderhorse

   Deepwater
Semisubmersible
   6000    BP    Mid 80s    U.S. Gulf
of Mexico
   Jan. 12   

Plus five 1-year

unpriced options

Barge Rig

                    
ENSCO I    Barge Rig       Cold stacked       Singapore      

Definitions and Disclaimers

Day Rate Definition. The day rates reflected in this Fleet Status Report are the operating day rates charged to customers, which may include estimated contractual adjustments for changes in operating costs and/or reimbursable cost adjustments for ongoing expenses such as crew, catering, insurance and taxes. The day rates, however, do not include certain types of non-recurring revenues such as lump sum mobilization payments, revenues earned during mobilizations, revenues associated with contract preparation and other non-recurring reimbursable items such as mobilizations and capital enhancements, and the impact of the fair market value adjustments to Pride’s drilling contracts in place on the 31 May 2011 acquisition date. Routine and non-routine downtime may reduce the actual revenues recognized during the contract term. Additionally, the Company occasionally negotiates special rates with customers as noted in the comments that reduce revenues recognized during the contract term.

Rig Names. Upon completion of the merger with Pride International, Inc., we intend to rename Pride’s fleet in accordance with our naming convention. We are in the process of completing these name changes, some of which may not be completed for some time. For purposes of our Fleet Status Report, we are using the new names even when the name change has not been completed. Below is a legend showing the name changes.

Legend of Ensco rig names to Pride International rig names

 

ENSCO DS-1   Pride Africa   ENSCO 6000   Pride South America   ENSCO 5002   Pride Sea Explorer   ENSCO 61   Pride Cabinda
ENSCO DS-2   Pride Angola   ENSCO 6001   Pride Carlos Walter   ENSCO 5003   Pride South Seas   ENSCO 91   Pride Montana
ENSCO DS-3   Deep Ocean Ascension   ENSCO 6002   Pride Brazil   ENSCO 5004   Pride Venezuela   Pride Hawaii   Pride Hawaii
ENSCO DS-4   Deep Ocean Clarion   ENSCO 6003   Pride Rio de Janeiro   ENSCO 5005   Pride South Atlantic   Pride Pennsylvania   Pride Pennsylvania
ENSCO DS-5   Deep Ocean Mendocino   ENSCO 6004   Pride Portland   ENSCO 5006   Pride North America   Pride Wisconsin   Pride Wisconsin
ENSCO DS-6   Deep Ocean Molokai   ENSCO 5000   Pride Mexico   ENSCO 58   Pride North Dakota    
ENSCO DS-7   Deep Ocean Marquesas   ENSCO 5001   Pride South Pacific   ENSCO 59   Pride Tennessee    

Forward Looking Statement. Statements contained in this Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “could,” “may,” “might,” “should,” “will” and similar words and specifically include statements involving future rig dayrates; cost adjustments; utilization; estimated rig availability; contract duration, status, terms and other contract commitments; customers; rig enhancement projects; new rig commitments; the expected period of time and number of rigs that will be in a shipyard for repairs, maintenance, enhancement or construction; and scheduled delivery dates for new rigs. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the continued impact of the Macondo well incident; governmental regulatory, legislative and permitting requirements affecting drilling operations; changes in worldwide rig supply and demand, competition and technology; future levels of offshore drilling activity; downtime and other risks associated with offshore rig operations, relocations, severe weather or hurricanes; possible cancellation or suspension of drilling contracts as a result of mechanical difficulties, performance or other reasons; risks inherent to shipyard rig construction, repair, maintenance or enhancement; actual contract commencement dates; environmental or other liabilities, risks or losses; our ability to attract and retain skilled personnel on commercially reasonable terms; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; and the outcome of litigation, legal proceedings, investigations or other claims or contract disputes. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are available on the SEC’s website at www.sec.gov or on the Investor Relations section of our website at www.enscoplc.com. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.

U.S. Gulf of Mexico. Certain Ensco rigs in the U.S. Gulf of Mexico have been and may be further affected by the regulatory developments and other actions that have or may be imposed by the U.S. Department of the Interior. Ensco rig utilization and day rates have been negatively influenced due to regulatory requirements and delays in our customers’ ability to secure drilling and associated permits. Current or future NTLs or other directives, legislation or regulations may further impact our customers’ ability to obtain permits and commence or continue deep- or shallow-water operations in the U.S. Gulf of Mexico. We continue to work with our customers on mutually agreeable contingency plans for our deepwater rigs in the U.S. Gulf of Mexico. In certain cases, we have negotiated reduced day rates with existing customers and/or sublet agreements with other customers in the U.S. Gulf of Mexico or elsewhere.

Ensco has rejected all force majeure notices received since the Macondo well incident as invalid under the terms of the applicable drilling contracts. During mid-December 2010, Ensco received a force majeure notice from Nexen regarding ENSCO 8501. Following delivery of the force majeure notice, Nexen only paid the $280,000 force majeure rate (75% of the mid-$370,000 invoiced applicable day rate at the time) under recent invoices. Ensco, in turn, notified Nexen that it is in default, which Nexen has denied. Ensco has commenced litigation to resolve the dispute.

The full impact of the government’s actions and the regulations discussed in this note and potential new regulatory, legislative or permitting requirements has not yet been determined, but could have a further material adverse effect upon our results of operations.

 

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