Attached files
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| 8-K - ROWAN COMPANIES PLC | v163309_8k.htm |
| EX-99.2 - ROWAN COMPANIES PLC | v163309_ex99-2.htm |
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OFFSHORE
RIG FLEET AND CONTRACT STATUS
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As
of October 20, 2009
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OFFSHORE
RIGS
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Contract Status
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LeTourneau
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Depth (feet)
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Year in
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Day Rate
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Estimated
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Name
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Class
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Water
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Drilling
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Service
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Location
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Customer
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(in thousands)
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Duration
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Comments ($ in thousands)
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Cantilever Jack-up Rigs:
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Rowan
EXL #4
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S116-E
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350
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35,000
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2012
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TBD
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TBD
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TBD
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TBD
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Rig
currently under construction with delivery expected in Q1
2012.
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Rowan
EXL #3
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S116-E
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350
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35,000
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2010
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TBD
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TBD
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TBD
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TBD
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Rig
currently under construction with delivery expected in Q4
2010.
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Joe
Douglas
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240-C
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400
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35,000
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2011
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TBD
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TBD
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TBD
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TBD
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Rig
currently under construction with delivery expected in Q3
2011.
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Rowan
EXL #2
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S116-E
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350
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35,000
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2010
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TBD
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TBD
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TBD
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TBD
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Rig
currently under construction with delivery expected in Q3
2010.
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Rowan
EXL #1
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S116-E
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350
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35,000
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2010
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TBD
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TBD
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TBD
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TBD
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Rig
currently under construction with delivery expected in early Q2
2010.
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Ralph
Coffman
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240-C
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400
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35,000
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2010
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Gulf of Mexico
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McMoRan
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Low 180s
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January 2012
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Signed
two-year contract in June 2009 (see Rowan
Mississippi); rig is currently under construction with delivery expected in
early 2010.
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J.P.
Bussell
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225-C
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300
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35,000
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2008
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Egypt
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Shell
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Low
180s
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May
2011
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Rig
completed
mobilization from Gulf of Mexico to Egypt in early October and commenced
contract for two wells
(estimated 20-24 months) in mid
October 2009.
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Rowan-Mississippi
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240-C
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375
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35,000
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2008
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Gulf
of Mexico
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McMoRan
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Low
180s
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November 2010
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In connection with
the Ralph
Coffman contract, the Company entered into an amendment in June
2009 to reduce the Mississippi
day rate for the remainder of the contract term. The Coffman
contract contains
an early termination option exercisable on or before December 31,
2009. Should McMoRan terminate
the Coffman
contract, the Company will earn an $18 million fee, payable in
installments over the
remainder of the Mississippi
contract
term.
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Hank
Boswell
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225-C
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300
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35,000
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2006
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Middle
East
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Saudi Aramco
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Low
190s
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March
2011
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Bob
Keller
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225-C
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300
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35,000
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2005
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Middle
East
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Saudi Aramco
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Low
180s
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May
2011
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Scooter
Yeargain
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225-C
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300
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35,000
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2004
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Middle
East
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Saudi
Aramco
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Low
190s
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March
2011
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Bob
Palmer
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224-C
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550
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35,000
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2003
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Gulf
of Mexico
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LLOG
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Low
80s
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November 2009
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Rowan
Gorilla VII
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219-C
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400
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35,000
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2002
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West
Africa
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Cabinda
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Low
330s
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April
2010
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Rowan
Gorilla VI
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219-C
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400
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35,000
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2000
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North
Sea
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BG
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October
2009
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Rig arrived at the
shipyard in mid July for upgrades in connection with Norwegian
certification requirements, which
are expected to be completed by late
October. Rig
received low $150s shipyard rate for first 60 days, through
late September.
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BG
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Mid
370s
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January
2010
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Mid
380s
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June
2010
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Rowan
Gorilla V
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219-C
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400
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35,000
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1998
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North
Sea
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Total
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Low
180s
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July
2010
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Rowan
Gorilla IV
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200-C
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450
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35,000
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1986
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Mexico
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PEMEX
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Low
130s
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July
2011
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The day rate reprices
every three months based on an index of jack-up rates. The rate
shown dates from the rig's
mid August start-up. The next date on which the contract is expected to
reprice is October 30, 2009. A
late delivery penalty of $1.6 million was withheld from the customer's
initial payment. Rig was idle for
8 days during September
2009.
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Rowan
Gorilla III
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200-C
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450
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30,000
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1984
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Eastern
Canada
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EnCana
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October
2009
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Rig arrived in the
shipyard in mid October for modifications and inspections and is expected
to commence operations for
EnCana in late October 2009.
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EnCana
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Mid
300s
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June
2010
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Rowan
Gorilla II
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200-C
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450
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30,000
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1984
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Gulf
of Mexico
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Devon
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Low
190s
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January
2011
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Rowan-California
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116-C
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300
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30,000
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1983
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Middle
East
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Available
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Rig was in the
shipyard during the month of September
2009 for maintenance/modifications and is expected to remain
in the shipyard until mid
December 2009.
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Cecil
Provine
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116-C
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300
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30,000
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1982
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Gulf
of Mexico
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Available
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Rig was idle during the month of September 2009. | |||||||||||
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Gilbert
Rowe
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116-C
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350
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30,000
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1981
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Middle
East
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Maersk
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Low
100s
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March
2010
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Arch
Rowan
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116-C
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350
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30,000
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1981
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Middle
East
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Available
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Rig
was in the shipyard during the month of September 2009 for
maintenance/modifications and is expected to
remain in the shipyard until mid
December 2009.
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Charles
Rowan
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116-C
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350
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30,000
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1981
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Middle
East
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Available
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Rig was in the
shipyard during the month of September
2009 for maintenance/modifications and is expected to remain
in the shipyard until mid
December 2009.
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Rowan-Paris
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116-C
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350
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30,000
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1980
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Middle
East
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Maersk
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Low
170s
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January
2010
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Rig
was idle for 12 days during September 2009.
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Rowan-Middletown
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116-C
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350
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30,000
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1980
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Middle
East
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Available
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Rig was in the
shipyard during the month of September
2009 for maintenance/modifications and is expected to remain
in the shipyard until the end of November
2009.
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Conventional
Jack-up Rigs:
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Rowan-Juneau
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116
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250
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30,000
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1977
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Gulf of Mexico
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Available
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Rig
was idle during the month of September
2009.
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Rowan-Alaska
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84
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350
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30,000
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1975
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Gulf
of Mexico
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Available
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Rig
was idle during the month of September
2009.
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Rowan-Louisiana
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84
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350
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30,000
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1975
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Gulf
of Mexico
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Helix-ERT
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Mid
30s
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December 2009
|
Rig
was idle during the month of September
2009.
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Rig Class
denotes LeTourneau, Inc. hull number. 200-C is a Gorilla class unit designed for
extreme hostile environment capability. 219-C is a Super Gorilla class unit, an
enhanced version of the Gorilla class, and 224-C is a Super Gorilla XL design.
225-C is a Tarzan Class unit. 240-C is LeTourneau's latest jack-up
design. Rowan EXL is an enhanced version of the Super 116E
class. Unless otherwise indicated, all day rates include estimated
amortization of contract mobilization/modification revenues. Estimated contract
durations reflect either stated drilling periods or expected time required for
the contracted well or wells.
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.
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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.
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Revisions
to Fleet Status Report Noted in Bold