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8-K - ENSCO PLC 8-K 6-17-2013 - Valaris Ltdform8k.htm

Exhibit 99.1
 
 

 
 
Ensco plc
Fleet Status Report
17 June 2013
 
 
 
Monthly Changes
Bolded rig names and underlined text signify changes in rig status from previous report.
Rig Type
Region / Rig
 
Design
 
Water
Depth' (1)
 
Customer/
Status
 
Day Rate
$000′s US
 
Location
 
Est. Avail (2)
 
Comments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Floaters
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
North & South America (excluding Brazil)
 
 
ENSCO DS-3
 
Drillship, DP3 Samsung
 
10000/12000
 
BP
 
High 490s
 
U.S. Gulf of Mexico
 
Jun. 16
 
Zero rate for approx. 11 days in 2Q13. Plus cost adjustments
ENSCO DS-5
 
Drillship, DP3 Samsung
 
10000/12000
 
Petrobras
 
Mid 430s
 
U.S. Gulf of Mexico
 
Jul. 16
 
Zero rate for approx. 21 days in 2Q13 and approx. 5 days in 3Q13. Eligible for bonus opportunity up to 17%, plus cost adjustments
ENSCO 8500
 
Semisubmersible DP
 
8500/10000
 
Anadarko/Eni
 
Low 300s
 
U.S. Gulf of Mexico
 
Sep. 14
 
Zero rate for approx. 25 days in 2Q13. Planned inspection for approx. 20 days in 4Q13. Plus approx. $31,000 per day for lump sum payment of $20 million and one-time reimbursable costs of $27 million amortized through Aug. 13.  Plus cost adjustments and three 1-year same-rate options
ENSCO 8501
 
Semisubmersible DP
 
8500/10000
 
Nexen/Noble Energy
 
Mid 380s
 
U.S. Gulf of Mexico
 
Aug. 14
 
Planned inspection for approx. 20 days in 2Q14. Plus approx. $19,000 per day for mobilization expenses and upgrade costs amortized through Aug. 13. Plus cost adjustments. Continue with Noble Energy to Aug. 14, mid 520s. Plus cost adjustments and three 1-year unpriced options
ENSCO 8502
 
Semisubmersible DP
 
8500/10000
 
Nexen/LLOG
 
Low 500s
 
U.S. Gulf of Mexico
 
Jun. 14
 
-----. Assigned to LLOG. Plus approx. $35,000 per day for reimbursable mobilization expenses and upgrade costs amortized through Jul. 13. Plus cost adjustments. Expect to work Jul. 13 to Sep. 13, low 500s. Then to Stone Nov. 13 to Jun. 14, low 530s
ENSCO 8503
 
Semisubmersible DP
 
8500/10000
 
Cobalt
 
Low 550s
 
U.S. Gulf of Mexico
 
Jan. 14
 
-----. Plus approx. $54,000 per day for reimbursable mobilization expenses and upgrade costs amortized through Dec. 13. Plus cost adjustments
ENSCO 8505
 
Semisubmersible DP
 
8500/10000
 
Anadarko/Apache/
Noble Energy
 
High 480s
 
U.S. Gulf of Mexico
 
Jul. 14
 
Plus cost adjustments and two 1-year unpriced options
ENSCO 8506
 
Semisubmersible DP
 
8500/10000
 
Anadarko
 
High 530s
 
U.S. Gulf of Mexico
 
Jul. 15
 
Zero rate for approx. 6 days in 2Q13. Plus cost adjustments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brazil
 
 
ENSCO DS-4
 
Drillship, DP3 Samsung
 
10000/12000
 
BP
 
Mid 550s
 
Brazil
 
Jul. 16
 
Plus cost adjustments
ENSCO 7500
 
Semisubmersible DP
 
8000
 
Petrobras
 
Low 320s
 
Brazil
 
Aug. 14
 
Zero rate for approx. 26 days in 2Q13. Eligible for bonus opportunity up to 5%. Plus approx. $20,000 per day for mobilization revenue and expenses amortized over primary contract term. Plus cost adjustments
ENSCO 6001
 
Semisubmersible - DP Megathyst
 
5700
 
Petrobras
 
Mid 270s
 
Brazil
 
Jun. 18
 
Zero rate for approx. 14 days in 2Q13. Eligible for bonus opportunity up to 15%, plus cost adjustments. Rate increases Jun. 13 to mid 370s. Planned shipyard upgrade for approx. 45 days in 2014, mid 210s. Plus approx. $12,000 per day amortized over primary contract term for capital upgrades. Plus cost adjustments
ENSCO 6002
 
Semisubmersible - DP Megathyst
 
5700
 
Petrobras
 
Mid 270s
 
Brazil
 
Jul. 18
 
Eligible for bonus opportunity up to 15%, plus cost adjustments. Rate increases Jul. 13 to mid 370s. Planned shipyard upgrade for approx. 45 days in 2014, mid 210s. Plus approx. $12,000 per day amortized over primary contract term for capital upgrades. Plus cost adjustments
ENSCO 6003
 
Semisubmersible - DP Megathyst
 
5700
 
Petrobras
 
Low 320s
 
Brazil
 
Jan. 17
 
Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 6004
 
Semisubmersible - DP Megathyst
 
5700
 
Petrobras
 
Low 320s
 
Brazil
 
Oct. 16
 
Zero rate for approx. 15 days in 2Q13. Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 5000
 
Semisubmersible - Conv Neptune Pentagon
 
2300/2650
 
Petrobras
 
High 230s
 
Brazil
 
Jul. 13
 
Zero rate for approx. 6 days in 2Q13. Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 5002
 
Semisubmersible - Conv Aker H-3
 
1000
 
OGX/Repsol
 
Low 220s
 
Brazil
 
Nov. 13
 
Currently assigned to Repsol for 1-well
ENSCO 5004
 
Semisubmersible - Conv  F & G Enhanced Pacesetter
 
1500
 
OGX
 
Mid 230s
 
Brazil
 
Nov. 13
 
 
ENSCO 6000
 
Semisubmersible - DP Amethyst
 
3400/4000
 
Petrobras
 
Mid 270s
 
Brazil
 
Apr. 14
 
Currently outfitted for workover activity
 

 
 
Ensco plc
Fleet Status Report
17 June 2013
 
 
 
Monthly Changes
Bolded rig names and underlined text signify changes in rig status from previous report.
Rig Type
Region / Rig
 
Design
Water
Depth' (1)
Customer/
Status
Day Rate
$000′s US
 
Location
 
Est. Avail (2)
 
Comments
 
Europe & Mediterranean
ENSCO 5006
 
Semisubmersible - Conv Bingo 8,000
 
6200/7500
 
Noble Energy
 
Low 430s
 
-----Cyprus
 
Nov. 17
 
Zero rate for approx. 12 days in 2Q13. Next mobilize to Singapore shipyard in 4Q13 under contract to Inpex for 40 month drilling program in Australia with estimated commencement 3Q14, initially low 460s. Plus periodic rate increases resulting in low 490s average rate over drilling program. Plus estimate of $164,000 per day amortized over the duration of the drilling program for capital upgrades and day rates during shipyard stay and mobilizations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Middle East & Africa
 
 
ENSCO DS-1
 
Drillship - DP Gusto 10,000
 
6000/10000
 
TOTAL
 
Low 350s
 
Angola
 
Jan. 16
 
Zero rate for approx. 11 days in 2Q13. Plus unpriced options and cost adjustments. Eligible for bonus opportunity up to 5%
ENSCO DS-2
 
Drillship - DP Gusto 10,000
 
6000/10000
 
TOTAL
 
Low 480s
 
Angola
 
Sep. 13
 
Zero rate for approx. 25 days in 2Q13. Planned inspection in 3Q13 for approx. 38 days. Eligible for bonus opportunity up to 5%, plus cost adjustments
ENSCO DS-6
 
Drillship, DP3 Samsung
 
10000/12000
 
BP
 
Low 520s
 
Angola
 
Feb. 18
 
Plus approx. $102,000 per day amortized over 5-year contract term for special day rate ahead of mobilization, upgrade costs and reimbursable mobilization expenses. Plus cost adjustments and two 1-year options at mutually agreed rates
ENSCO 5001
 
Semisubmersible - Conv Sonat
 
5000/6500
 
PetroSA
 
Low 280s
 
South Africa
 
Jan. 15
 
Zero rate for approx. 19 days in 2Q13. Plus approx. $7,500 per day for reimbursable mobilization expenses amortized over primary contract term to Jan. 15. Plus two 1-well options, low 320s
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asia & Pacific Rim
 
 
ENSCO 8504
 
Semisubmersible DP
 
8500/10000
 
Shell
 
Low 470s
 
Philippines
 
May 15
 
Eligible for bonus opportunity up to 15%, plus cost adjustments. Mobilization fee and capital upgrades of $5 million to be amortized over primary contract term. Then to Shell in Malaysia Jul. 13 to May 15, mid 530s. Planned inspection for approx. 10 days in 3Q14. Plus cost adjustments
ENSCO 5005
 
Semisubmersible - Conv  F & G Enhanced Pacesetter
 
1500/1700
 
Shipyard
 
 
 
Singapore
 
1Q14
 
Planned inspection and shipyard upgrades
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Under Construction
 
 
 
 
 
 
 
 
 
 
 
ENSCO DS-7
 
Drillship, DP3 Samsung
 
10000/12000
 
Under construction/
Contracted
 
 
 
South Korea
 
4Q16
 
Contracted to Total in Angola from 4Q13 to 4Q16, initial rate mid 610s for first 90 days after commencement. Plus periodic rate increases resulting in high 640s average rate over three-year contract. Mob fee of $31 million to be amortized over primary contract term
ENSCO DS-8
 
Drillship, DP3 Samsung GF12000
 
10000/12000
 
Under construction 
 
 
 
South Korea
 
3Q14
 
 
ENSCO DS-9
 
Drillship, DP3 Samsung GF12000
 
10000/12000
 
Under construction 
 
 
 
South Korea
 
4Q14
 
 
ENSCO DS-10
 
Drillship, DP3 Samsung GF12000
 
10000/12000
 
Under construction 
 
 
 
South Korea
 
3Q15
 
 

(1)
For rigs that may be modified to drill in deeper water depths, both the currently outfitted and maximum upgrade capabilities are shown.
(2)
Estimated available date for rig after current and follow-on contracts (excluding option period) and shipyard stays have been completed.  For newbuild rigs without a contract, the estimated available date is the expected delivery date from the shipyard.


 
 
Ensco plc
Fleet Status Report
17 June 2013
 
 
 
Rig Type
Region / Rig
 
Design
 
Water
Depth'
 
Customer/
Status
 
Day Rate
$000′s US
 
Location
 
Est. Avail (1)
 
Comments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Jackups
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
North & South America (excluding Brazil)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Gulf of Mexico
 
 
ENSCO 68
 
MLT 84-CE
  
400
 
Chevron
 
Mid 130s
 
Gulf of Mexico
 
Jan. 14
 
Zero rate for approx. 15 days in 4Q13. 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 
 
High 130s
 
Gulf of Mexico 
 
Jan. 14
 
Zero rate for approx. 12 days in 3Q13 for planned maintenance. Plus cost adjustments
ENSCO 81
 
MLT 116-C 
 
350
 
-----Stone
 
High 130s
 
Gulf of Mexico
 
Dec. 13
 
-----
ENSCO 82
 
MLT 116-C 
  
300
 
Energy XXI
 
Low 130s
 
Gulf of Mexico 
 
Sep. 13
 
Rate increases Jul. 13 to mid 130s, plus cost adjustments
ENSCO 86
 
MLT 82 SD-C
  
250
 
Apache
 
Low 110s
 
Gulf of Mexico
 
Sep. 13
 
Next to Ankor late Jul. 13 to late Sep. 13, mid 120s
ENSCO 87
 
MLT 116-C
  
350
 
Apache
 
Low 120s
 
Gulf of Mexico
 
Jan. 14
 
Rate increases Jul. 13 to low 140s
ENSCO 90
 
MLT 82 SD-C 
 
250
 
Energy XXI/
Chevron
 
Low 110s
 
Gulf of Mexico 
 
Oct. 13
 
 
ENSCO 99
 
MLT 82 SD-C
  
250
 
Energy XXI
 
Low 110s
 
Gulf of Mexico 
 
Oct. 13
 
Zero rate for approx. 14 days in 4Q13 for planned maintenance
Pride Wisconsin
 
MLT-Slot
 
300
 
Cold stacked
 
 
 
Gulf of Mexico
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mexico
 
 
ENSCO 83
 
MLT 82 SD-C
 
250
 
Pemex
 
Low 90s
 
Mexico
 
Oct. 16
 
 
ENSCO 89
 
MLT 82 SD-C
 
250
 
Pemex
 
Low 90s
 
Mexico
 
Nov. 15
 
Planned inspection 4Q13 for approx. 21 days
ENSCO 93
 
MLT 82 SD-C
 
250
 
Pemex
 
Low 90s
 
Mexico
 
Jun. 15
 
 
ENSCO 98
 
MLT 82 SD-C
 
250
 
Pemex
 
Low 90s
 
Mexico
 
Aug. 15
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Europe
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
North Sea
 
 
ENSCO 70
 
Hitachi K1032N
 
250
 
RWE Dea
 
Mid 140s
 
UK
 
Apr. 16
 
Plus one 1-well unpriced option. Planned shipyard upgrade and inspection for approx. 60 days in 4Q13 and approx. 30 days in 1Q14. Then to RWE Dea Feb. 14 to Apr. 14, mid 140s. Then to Maersk in Denmark to Apr. 16, low 160s. Plus approx. $11,000 per day for reimbursable upgrade costs amortized Apr. 14 to Apr. 16. Plus cost adjustments and three 1-year unpriced options
ENSCO 71
 
Hitachi K1032N
 
225
 
Maersk
 
Low 140s
 
Denmark
 
May 14
 
Plus two 1-year options at escalating day rates and one 1-year at mutually agreed rate
ENSCO 72
 
Hitachi K1025N
 
225
 
Maersk
 
Low 110s
 
Denmark
 
Aug. 14
 
Plus approx. $7,000 per day for reimbursable upgrade costs amortized Aug. 12 to Aug. 13. Rate increases Aug. 13 to low 140s. Plus two 1-year options at escalating day rates and one 1-year option at mutually agreed rate
ENSCO 80
 
MLT 116-CE
 
225
 
EOG
 
High 90s
 
UK
 
Feb. 17
 
Planned inspection for approx. 20 days in 4Q13. Plus cost adjustments. Rate increases Dec. 13 to low 130s and late Dec. to high 130s, plus cost adjustments. Then to GDF late Feb. 14 to Feb. 17, high 130s. Plus cost adjustments and unpriced option
ENSCO 92
 
MLT 116-C
 
225
 
RWE Dea
 
Mid 140s
 
UK
 
Jan. 15
 
Next to ONE in Netherlands Jul. 13 to Sep. 13, low 130s. Plus cost adjustments. Then to Tullow in Netherlands Sep. 13 to Dec. 13, mid 140s. Plus cost adjustments. Then to ONE Dec. 13 to May 14, mid 140s. Plus cost adjustments. Then to ConocoPhillips in UK May 14 to Jan. 15, low 160s. Plus cost adjustments
ENSCO 100
 
MLT 150-88-C
 
350
 
-----Ithaca
 
Low 160s
 
UK
 
Dec. 14
 
Shipyard inspection for approx. 25 days in 2Q13. -----. Plus cost adjustments and two 1-well options
ENSCO 101
 
KFELS MOD V-A
 
400
 
-----Tullow
 
Mid 210s
 
UK
 
Oct. 14
 
Shipyard inspection for approx. 35 days in 2Q13. Plus cost adjustments. -----. -----. -----. Then to BP in UK to Oct. 14, mid 210s, plus two 6-month unpriced options. Plus cost adjustments
ENSCO 102
 
KFELS MOD V-A
 
400
 
ConocoPhillips
 
Low 200s
 
UK
 
Jun. 16
 
Shipyard inspection for approx. 45 days in 2Q13. Rate firm for 8 wells (est. through Jun. 16) thereafter at mutually agreed rate. Plus cost adjustments and unpriced options
 

 
 
Ensco plc
Fleet Status Report
17 June 2013
 
Rig Type
Region / Rig
 
Design
 
Water
Depth'
 
Customer/
Status
 
Day Rate
$000′s US
 
Location
 
Est. Avail (1)
 
Comments
 
Middle East & Africa
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Middle East
 
 
ENSCO 54
 
F&G L-780 Mod II-C
 
300
 
BG
 
Low 140s
 
India
 
Apr. 14
 
Plus approx. $9,000 per day for mobilization amortized to Oct. 13. Rate increases Oct. 13 to mid 140s
ENSCO 58
 
F&G L-780 Mod II
 
250
 
Saudi Aramco
 
Mid 60s
 
Saudi Arabia
 
Dec. 13
 
Planned inspection for approx. 30 days in 1Q14. Plus one 1-year same rate option
ENSCO 76
 
MLT Super 116-C
 
350
 
Saudi Aramco
 
Low 100s
 
Saudi Arabia
 
Jun. 14
 
Zero rate for approx. 14 days in 2Q13. Planned inspection for approx. 21 days in 2Q14/3Q14. Plus one 1-year option, high 150s
ENSCO 84
 
MLT 82 SD-C
 
250
 
Saudi Aramco
 
Low 60s
 
Saudi Arabia
 
Nov. 14
 
Shipyard upgrade for approx. 45 days in 2Q13. Plus one 1-year option, mid 70s
ENSCO 88
 
MLT 82 SD-C
 
250
 
Ras Gas
 
Low 110s
 
Qatar
 
Oct. 16
 
Next planned shipyard upgrade and mobilization for approx. 20 days in 2Q13, approx. 92 days in 3Q13 and approx. 8 days in 4Q13. Then to Saudi Aramco Oct. 13 to Oct. 16, low 100s. Plus one 1-year priced option
ENSCO 91
 
Hitachi Zosen Drill Hope C-150
 
270
 
Saudi Aramco
 
High 60s
 
Saudi Arabia
 
Aug. 14
 
Plus one 1-year option, mid 90s
ENSCO 94
 
Hitachi 250-C
 
250
 
Saudi Aramco
 
Low 100s
 
Saudi Arabia
 
May 16
 
Shipyard upgrade for approx. 53 days in 2Q13. Plus one 1-year priced option
ENSCO 96
 
Hitachi 250-C
 
250
 
Saudi Aramco
 
Low 60s
 
Saudi Arabia
 
Dec. 14
 
Planned shipyard upgrade for approx. 45 days in 4Q13 and approx. 35 days in 1Q14. Plus one 1-year option, mid 70s
ENSCO 97
 
MLT 82 SD-C
 
250
 
Saudi Aramco
 
Low 60s
 
Saudi Arabia
 
Dec. 14
 
Planned shipyard upgrade for approx. 65 days in 1Q14 and approx. 15 days in 2Q14. Plus one 1-year option, mid 70s
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asia & Pacific Rim
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Southeast Asia / Australia
 
 
 
 
 
 
 
 
 
 
 
 
ENSCO 52
 
F&G L-780 Mod II-C
 
300
 
-----Murphy
 
High 70s
 
----Malaysia
 
Aug. 14
 
Shipyard upgrade and moblization for 74 days in 2Q13. -----. Plus cost adjustments and one 1-year unpriced option.  Plus $15,000 per day for upgrade costs amortized Jun. 13 to Nov. 13
ENSCO 53
 
F&G L-780 Mod II-C
 
300
 
BC Petroleum
 
Low 100s
 
Malaysia
 
Jul. 13
 
Plus cost adjustments. Planned inspection for approx. 15 days in 2Q13/3Q13
ENSCO 56
 
F&G L-780 Mod II-C
 
300
 
Shipyard
 
 
 
Singapore
 
Jul. 15
 
Planned shipyard time for approx. 85 days in 2Q13 and mobilization for approx. 10 days in 3Q13. Next to Pertamina in Indonesia Jul. 13 to Jul. 15, mid 110s. Plus approx. $3,000 per day for mobilization amortized over primary contract term. Plus one 8-month unpriced option
ENSCO 67
 
MLT 84-CE
 
400
 
Pertamina
 
Mid 130s
 
Indonesia
 
Mar. 16
 
Plus one 8-month unpriced option
ENSCO 85
 
MLT 116-C 
 
300
 
Pertamina
 
Mid 130s
 
Indonesia
 
Feb. 14
 
Plus approx. $7,000 per day for mobilization amortized Feb. 13 to Jan. 14. Plus one 8-month unpriced option
ENSCO 104
 
KFELS MOD V-B
 
400
 
Apache
 
Mid 190s
 
Australia
 
Mar. 14
 
Plus cost adjustments. Next to ENI in Australia Jul. 13 to Mar. 14, mid 220s
ENSCO 105
 
KFELS MOD V-B
 
400
 
Petronas Carigali
 
Mid 150s
 
Malaysia
 
Nov. 13
 
Plus one 1-year unpriced option
ENSCO 106
 
KFELS MOD V-B
 
400
 
Newfield
 
High 130s
 
Malaysia
 
Oct. 13
 
Plus cost adjustments. Expect to work to Oct. 14, mid 150s
ENSCO 107
 
KFELS MOD V-B
 
400
 
Mitra Energy
 
Low 160s
 
Vietnam
 
Dec. 14
 
Rate increases Jul. 13 to low 170s. Plus one 1-well option. Next to Santos Oct. 13 to Nov. 13, low 170s. Then contract preparations and mobilization for approx. 31 days in 4Q13 and approx. 26 days in 1Q14 in advance of drilling operations for OMV in New Zealand Jan. 14 to Dec. 14, low 230s. Day rate earned during contract preparations and mob fee to be amortized over primary contract term. Plus cost adjustments and one 90-day unpriced option
ENSCO 108
 
KFELS MOD V-B
 
400
 
PTTEP
 
Mid 130s
 
Thailand
 
Apr. 14
 
Plus approx. $2,000 per day for upgrade costs amortized Apr. 12 to Apr. 14
ENSCO 109
 
KFELS MOD V-Super B
 
350
 
ENI/Murphy/
Vermillion/Santos
 
Mid 180s
 
Australia
 
Sep. 13
 
Next to PTTEP Jul. 13 to Sep. 13, mid 190s
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Under Construction
 
 
 
 
 
 
 
 
 
 
 
 
ENSCO 120
 
KFELS Super A
 
400
 
Under construction/ Contracted
 
 
 
Singapore
 
Apr. 15
 
Contracted to Nexen in the UK from 4Q13 to Apr. 15, low 230s. Plus cost adjustments and eleven 1-well options.  Mob fee of approx. $8 million to be amortized over primary contract term
ENSCO 121
 
KFELS Super A
 
400
 
Under construction/
Contracted
 
 
 
Singapore
 
1Q16
 
Contracted to Wintershall in Danish and Dutch sector from 1Q14 to 1Q16, low 230s. Plus one 1-year unpriced option. Mob fee of approx. $8 million to be amortized over primary contract term
ENSCO 122
 
KFELS Super A
 
400
 
Under construction
 
 
 
Singapore
 
3Q14
 
 
ENSCO 110
 
KFELS MOD V-B
 
400
 
Under construction
 
 
 
Singapore
 
1Q15
 
 
 
(1)
Estimated available date for rig after current and follow-on contracts (excluding option period) and shipyard stays have been completed.  For newbuild rigs without a contract, the estimated available date is the expected delivery date from the shipyard.
 

 
 
Ensco plc
Fleet Status Report
17 June 2013
 
Rig
 
Design
 
Water
Depth'
 
Customer/
Status
 
Day Rate
$000′s US
 
Location
 
Est. Avail (1)
 
Comments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deepwater Drilling Management
 
 
 
 
 
 
 
 
 
 
Kizomba
 
Deepwater TLP Drilling Rig
 
5000
 
ExxonMobil
 
Low 50s
 
Angola
 
Jun. 15
 
Rate increases Jul. 13 to mid 80s with full crew complement. Expect to commence operations in 4Q13
Thunderhorse
 
Deepwater Semisubmersible
 
6000
 
BP
 
Low 100s
 
U.S. Gulf of Mexico
 
Jan. 14
 
Plus three 1-year priced options, plus cost adjustments
Mad Dog
 
Deepwater Spar Drilling Rig
 
4500
 
BP
 
Mid 60s
 
U.S. Gulf of Mexico
 
Jan. 15
 
Plus one 1-year priced option, plus cost adjustments

(1)
Estimated available date for rig after current and follow-on contracts (excluding option period) and shipyard stays have been completed.  For newbuild rigs without a contract, the estimated available date is the expected delivery date from the shipyard.

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 previously acquired drilling contracts.  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.

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 day rates; 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 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.