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EX-99.1 - EX-99.1 - DIAMOND OFFSHORE DRILLING, INC.d341107dex991.htm
8-K - FORM 8-K - DIAMOND OFFSHORE DRILLING, INC.d341107d8k.htm

Exhibit 99.2

 

LOGO   

Diamond Offshore Drilling, Inc.

Rig Status Report

February 06, 2017

Updated information noted in bold print

RECENT COMMITMENTS (See Body of Report For Contract Details)

Ocean Monarch

 

    Water
Depth¹
        Year 3           Contract
Dayrate
    Estimated   Estimated       Downtime4      

Rig Name

  (feet)    

Type2

 

Built

 

Location

 

Operator

  (USD)    

Start Date

 

End Date

 

Status

  1Q17 E    

Comments

                  Totals:     46     
                   

 

 

   

Gulf of Mexico

Ocean BlackHawk

    12,000      DS 15K DP   2014   US GOM   Anadarko     495,000      late May 2014   mid Jun 2019   5-year term + unpriced option    

Ocean BlackHornet

    12,000      DS 15K DP   2014   US GOM   Anadarko     495,000      mid Apr 2015   mid Apr 2020   5-year term + unpriced option     10     

Ocean BlackRhino

    12,000      DS 15K DP   2014   US GOM   —       —        mid Feb 2016   mid Feb 2017   Contract prep; standby; customer acceptance    
        US GOM   Hess     400,000      mid Feb 2017   mid Feb 2020   3-year term    

Ocean BlackLion

    12,000      DS 15K DP   2015   US GOM   Hess     400,000      mid Feb 2016   mid Feb 2020   4-year term     20     

Ocean Scepter

    350      JU 15K IC   2008   Mexico   Fieldwood     Undisclosed      mid Feb 2017   mid Oct 2017   1 well + 1 option well    

North Sea / Mediterranean / W. Africa

Ocean Guardian

    1,500      SS 15K   1985   UK   Dana     220,000      early Mar 2016   early April 2017   1-year term     Rig on standby rate

Ocean Patriot

    3,000      SS 15K   1983   UK   Shell     400,511      late Oct 2014   late Oct 2017   3-year term    

Ocean Valiant

    5,500      SS 15K   1988   UK   Maersk     Undisclosed      early Nov 2016   early Feb 2018   13 Wells + priced options    

Australasia

Ocean Apex

    6,000      SS 15K   2014   Australia   Woodside Energy     285,000      mid May 2016   mid Nov 2017   18-month term,    
              205,000      mid Nov 2017   mid Feb 2018   3-month extension    

Ocean Monarch

    10,000      SS 15K   2008   Australia   BHP     —        mid Jan 2017   early Jun 2017   Contract Prep, Special Survey & Mobilization    
              Undisclosed      early Jun 2017   late Sept 2017   13 Wells + unpriced option    

Ocean GreatWhite

    10,000      SS 15K DP   2016   Singapore / Australia   —       —        mid Jul 2016   mid Jan 2017   Commissioning; mobe; acceptance    
        Australia   BP     Undisclosed      mid Jan 2017   mid Jan 2020   3-year term + 2 x 1-year priced options     Reduced standby rate

South America

Ocean Victory

    5,500      SS 15K   1997   Trinidad   BP     398,000      early May 2015   mid May 2017   2-year term + 1-year unpriced option    

Ocean Courage

    10,000      SS 15K DP   2009   Brazil   Petrobras     455,000      late Oct 2015   late Feb 2018   3-year extension     16     
        Brazil   Petrobras     380,000      late Feb 2018   late Jul 2020   Term extension    

Ocean Valor

    10,000      SS 15K DP   2009   Brazil   Petrobras     455,000      early Jul 2016     Pending Litigation     Rig on standby rate

COLD STACKED

Ocean Nomad

    1,200      SS   1975   UK   —       —        —     —     Stacked    

Ocean Princess

    1,500      SS 15K   1975   UK   —       —        —     —     Stacked    

Ocean Vanguard

    1,500      SS 15K   1982   UK   —       —        —     —     Stacked    

Ocean America

    5,500      SS 15K   1988   Malaysia   —       —        —     —     Stacked    

Ocean Alliance

    5,250      SS 15K DP   1988   US GOM   —       —        —     —     Stacked    

Ocean Onyx

    6,000      SS 15K   2014   US GOM   —       —        —     —     Stacked    

Ocean Baroness

    8,000      SS 15K   2002   US GOM   —       —        —     —     Stacked    

Ocean Rover

    8,000      SS 15K   2003   Malaysia   —       —        —     —     Stacked    

Ocean Confidence

    10,000      SS 15K DP   2001   Canary Islands   —       —        —     —     Stacked    

Ocean Endeavor

    10,000      SS 15K   2007   Italy   —       —        —     —     Stacked    

Held For Sale

Ocean Spur

    300      JU IC   1981   Malaysia   —       —        —     —     Stacked    

 

Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC.

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NOTES

(1.) Water Depth refers to the rig’s rated operating water depth capability. Often, rigs are capable of drilling or have drilled in greater water depths.

(2.) Rig Type and capabilities: JU=Jack-up; SS=Semisubmersible; DS=Drillship; 15K=15,000 PSI Well-Control System; DP=Dynamically Positioned Rig; IC=Independent-Leg Cantilevered Rig.

(3.) Year Built represents when rig was built and originally placed in service or year redelivered with significant enhancements that enabled the rig to be classified within a different floater category than when originally constructed.

(4.) Downtime only includes downtime periods that as of this report date are, or have been, planned and estimable and do not necessarily reflect actual downtime experienced. Additional downtime may be experienced in the form of possible mobes for new jobs not yet contracted, possible acceptance testing at new jobs, and unplanned maintenance and repairs. Survey start times may also be accelerated or delayed for various reasons.

General Notes

Average Utilization: Assume rates of 92% for DP units, 95% for conventionally moored rigs, and 97% for jack-ups. Rig utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, and other factors.

Options should be assumed to be unpriced unless otherwise indicated.

Dayrates exclude amortized revenue related to amounts earned for certain activities, such as mobe, demobe, contract preparation, etc.

Survey Costs: During surveys, normal operating expense will be incurred, plus additional costs.

US GOM=U.S. Gulf of Mexico

 

Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC.

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LOGO   

Diamond Offshore Drilling, Inc.

Rig Status Report

Statements contained in this report that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by management of the Company. A discussion of the important risk factors and other considerations that could materially impact these matters as well as the Company’s overall business and financial performance can be found in the Company’s reports filed with the Securities and Exchange Commission, and readers of this report are urged to review those reports carefully when considering these forward-looking statements. Copies of these reports are available through the Company’s website at www.diamondoffshore.com. These risk factors include, among others, risks associated with worldwide demand for drilling services, level of activity in the oil and gas industry, renewing or replacing expired or terminated contracts, contract cancellations and terminations, maintenance and realization of backlog, competition and industry fleet capacity, impairments and retirements, operating risks, changes in tax laws and rates, regulatory initiatives and compliance with governmental regulations, construction of new builds, casualty losses, and various other factors, many of which are beyond the Company’s control. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this report. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.

 

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