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8-K - 8-K - DIAMOND OFFSHORE DRILLING, INC.d649684d8k.htm
EX-99.1 - EX-99.1 - DIAMOND OFFSHORE DRILLING, INC.d649684dex991.htm

Exhibit 99.2

 

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Diamond Offshore Drilling, Inc.

Rig Status Report

November 5, 2018

Updated information noted in bold print

RECENT COMMITMENTS (See Body of Report For Contract Details)

Ocean Apex

Ocean GreatWhite

Ocean Monarch

 

    Water
Depth¹
        Year           Contract
Dayrate
    Estimated   Estimated       Downtime4      

Rig Name

  (feet)    

Type2

 

Built3

 

Location

 

Operator

  (USD)    

Start Date

 

End Date

 

Status

  4Q18 E    

Comments

                  Totals:     19    
                   

 

 

   

Gulf of Mexico

                     

Ocean BlackHawk

    12,000     DS 15K DP   2014   US GOM   Anadarko     495,000     mid Jun 2014   mid Apr 2020       Special Survey at zero rate planned for Mar 19 - Jun 19
              Undisclosed     mid Apr 2020   mid Apr 2021   1-year extension + option    

Ocean BlackHornet

    12,000     DS 15K DP   2014   US GOM   Anadarko     495,000     mid Apr 2015   late Jun 2019      
        Global   BP     Undisclosed     1Q 2020   1Q 2022   2-year term + 2 x 1 year options    

Ocean BlackRhino

    12,000     DS 15K DP   2014   US GOM   Hess     400,000     mid Feb 2017   early May 2020   3-year term + options     10    

Ocean BlackLion

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

Rig TBD

    12,000     DS 15K DP     Global   BP     Undisclosed     2Q 2020   2Q 2022   2-year term + 2 x 1 year options    

North Sea / Mediterranean / W. Africa

       

Ocean Guardian

    1,500     SS 15K   1985   UK   Chevron     Undisclosed     late Jun 2018   mid Oct 2018   2 wells    

Ocean Patriot

    3,000     SS 15K   1983   UK   Apache     Undisclosed     early Jun 2018   early Jun 2020   2-year term + options     1    

Ocean Valiant

    5,500     SS 15K   1988   UK   Total     Undisclosed     early Nov 2016   mid Dec 2019   Well based contract     1    

Ocean Endeavor

    10,000     SS 15K   2007   UK   Shell     Undisclosed     early May 2019   early May 2021   12 wells + 2 option wells     Being Reactivated

Ocean GreatWhite

    10,000     SS 15K DP   2016   In Transit   Siccar Point     Undisclosed     early Mar 2019   mid Jul 2019   3 wells + 3 option wells    

Australasia

       

Ocean Apex

    6,000     SS 15K   2014   Australia   Woodside     Undisclosed     early May 2019   late Jul 2019   2 wells    
        Australia   Woodside     Undisclosed     early Jan 2020   late Sep 2020   4 wells    

Ocean Monarch

    10,000     SS 15K   2008   Australia   Cooper / Exxon     Undisclosed     mid Mar 2018   mid Nov 2018   Well based contract     3    
        Myanmar   Posco Daewoo     Undisclosed     early Nov 2019   mid Mar 2021   7 wells + 5 option wells    

South America

       

Ocean Courage

    10,000     SS 15K DP   2009   Brazil   Petrobras     380,000     late Feb 2018   late Jul 2020   Term extension     4     Special Survey at zero rate planned for Apr 19 - May 19

Ocean Valor

    10,000     SS 15K DP   2009   Brazil   Petrobras     289,000     mid Nov 2018   mid Nov 2020   2-year term extension     ~$40MM retroactive credit to be amortized over 2 year extension

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    

 

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: SS=Semisubmersible; DS=Drillship; 15K=15,000 PSI Well-Control System; DP=Dynamically Positioned 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    

Rig utilization: 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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