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EX-99.1 - EX-99.1 - DIAMOND OFFSHORE DRILLING, INC.d357752dex991.htm
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Exhibit 99.2

 

LOGO  

Diamond Offshore Drilling, Inc.

Rig Status Report

May 01, 2017

Updated information noted in bold print

RECENT COMMITMENTS (See Body of Report For Contract Details)

Ocean Monarch

Ocean Patriot

 

    Water
Depth¹
        Year 3             Contract
Dayrate
  Estimated   Estimated         Downtime4        

Rig Name

  (feet)    

Type2

 

Built

  Location    

Operator

 

(USD)

 

Start Date

 

End Date

  Status     2Q17 E     Comments  
                    Totals:       36    
                   

 

 

   

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
 
 
 
    2    

Ocean BlackHornet

    12,000     DS 15K DP   2014     US GOM     Anadarko   495,000   mid Apr 2015   mid Apr 2020    

5-year term +
unpriced
option
 
 
 
    5    

Ocean BlackRhino

    12,000     DS 15K DP   2014     US GOM     Hess   400,000   mid Feb 2017   mid Feb 2020    

3-year term +
unpriced
options
 
 
 
   

Ocean BlackLion

    12,000     DS 15K DP   2015     US GOM     Hess   400,000   mid Feb 2016   mid Feb 2020    

4-year term +
unpriced
options
 
 
 
   

Ocean Scepter

    350     JU 15K IC   2008     Mexico     Fieldwood   Undisclosed   mid Feb 2017   mid Oct 2017    
1 well + 1
option well
 
 
    10    

North Sea / Mediterranean / W. Africa

                 

Ocean Guardian

    1,500     SS 15K   1985     UK              
Warm
Stacked
 
 
   

Ocean Patriot

    3,000     SS 15K   1983     UK     Shell   400,511   late Oct 2014   late Oct 2017     3-year term      
          UK     Apache   Undisclosed   early Jun 2018   early Jun 2020    
2-year term +
options
 
 
   

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      
          Australia     Woodside Energy   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
 
 
 
 
   
          Australia     BHP   Undisclosed   early Jun 2017   late Sept 2017    

13 Wells +
unpriced
option
 
 
 
   
          Australia     Cooper Energy   Undisclosed   early Mar 2018   late Jun 2018      
          Australia     Origin Energy   Undisclosed   late Jun 2018   late Nov 2018     4 Wells      

Ocean GreatWhite

    10,000     SS 15K DP   2016     Malaysia     BP   Undisclosed   mid Jan 2017   mid Jan 2020    

3-year term + 2
x 1-year priced
options
 
 
 
   

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
 
 
 
 
    10    

Ocean Courage

    10,000     SS 15K DP   2009     Brazil     Petrobras   455,000   late Oct 2015   late Feb 2018    
3-year
extension
 
 
    4    
          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   mid Oct 2018    
Pending
Litigation
 
 
    5      
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 Alliance

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

Ocean America

    5,500     SS 15K   1988     Malaysia       —     —     —       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

                     

 

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 experienced, or have been planned and estimable and/or 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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