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EX-99.1 - EX-99.1 - DIAMOND OFFSHORE DRILLING, INC.d504602dex991.htm
8-K - FORM 8-K - DIAMOND OFFSHORE DRILLING, INC.d504602d8k.htm

Exhibit 99.2

 

LOGO   

Diamond Offshore Drilling, Inc.

Rig Status Report

February 12, 2018

Updated information noted in bold print

RECENT COMMITMENTS (See Body of Report For Contract Details)

 

        Ocean Apex    Ocean Monarch    Ocean Valor         
        Ocean Guardian    Ocean Valiant            

 

    Water
Depth¹
        Year             Contract
Dayrate
  Estimated   Estimated         Downtime4      

Rig Name

  (feet)    

Type2

 

Built3

  Location    

Operator

 

(USD)

 

Start Date

  End Date    

Status

  1Q18 E    

Comments

                  Totals:     25    
                   

 

 

   

Gulf of Mexico

               

Ocean BlackHawk

    12,000     DS 15K DP   2014     US GOM     Anadarko   495,000   mid Jun 2014     mid Jun 2019     5-year term + unpriced option     3    

Ocean BlackHornet

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

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     8    

North Sea / Mediterranean / W. Africa

               

Ocean Guardian

    1,500     SS 15K   1985     UK     Decipher   Undisclosed   late Feb 2018     late May 2018     1 well    
          UK     Chevron   Undisclosed   late May 2818     late Sept 2018     2 wells    

Ocean Patriot

    3,000     SS 15K   1983     UK     Shell   Undisclosed   early Mar 2018     mid May 2018        
          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     mid Dec 2019     Well — based contract     7    

Australasia

               

Ocean Apex

    6,000     SS 15K   2014     Australia     Woodside   205,000   mid Nov 2017     mid Feb 2018     3-month extension     2    
          Australia     Woodside   Undisclosed   mid Feb 2018     early Mar 2018     1 well    

Ocean Monarch

    10,000     SS 15K   2008     Australia     Cooper / Exxon   Undisclosed   mid Mar 2018     mid Sept 2018     Well — based contract    

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 Courage

    10,000     SS 15K DP   2009     Brazil     Petrobras   455,000   late Oct 2015     late Feb 2018     3-year extension     5    
          Brazil     Petrobras   380,000   late Feb 2018     late Jul 2020     Term extension    

Ocean Valor

    10,000     SS 15K DP   2009     Brazil     Petrobras   190,000   early Jul 2017     late Sept 2018     Rig placed in extended standby mode    
          Brazil     Petrobras   289,000   early Oct 2018     late Sept 2020     2-year term extension    

Cold Stacked

               

Ocean America

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

Ocean Onyx

    6,000     SS 15K   2014     Malaysia     —     —     —       —       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 Scepter

    350     JU 15K IC   2008     US GOM     —     —     —       —       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 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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