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EX-99.1 - EX-99.1 - DIAMOND OFFSHORE DRILLING, INC.d574124dex991.htm
8-K - 8-K - DIAMOND OFFSHORE DRILLING, INC.d574124d8k.htm

Exhibit 99.2

 

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Diamond Offshore Drilling, Inc.

Rig Status Report

April 30, 2018

Updated information noted in bold print

RECENT COMMITMENTS (See Body of Report For Contract Details)

Ocean Apex

Ocean Endeavor

Ocean BlackRhino

 

     Water
Depth¹
   

Type2

 

Year
Built3

 

 

   

 

  Contract
Dayrate
 

Estimated

Start Date

  Estimated
End Date
          Downtime4     Comments  

Rig Name

  (feet)         Location    

Operator

 

(USD)

      Status     2Q18 E    
                  Totals:       134    
                 

 

 

   

Gulf of Mexico

                     

Ocean BlackHawk

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

Ocean BlackHornet

    12,000     DS 15K DP   2014     US GOM     Anadarko   495,000   mid Apr 2015    
mid Apr
2020
 
 
   
5-year term + unpriced
option
 
 
    1    

Ocean BlackRhino

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

Ocean BlackLion

    12,000     DS 15K DP   2015     US GOM     Hess   400,000   mid Feb 2016    
late Feb
2020
 
 
   
4-year term + unpriced
options
 
 
    5    

North Sea / Mediterranean / W. Africa

                     

Ocean Guardian

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

Ocean Patriot

    3,000     SS 15K   1983     UK     Shell   Undisclosed   early Mar 2018    
late 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       77      

Special
Survey and
Upgrades
 
 
 

Ocean Endeavor

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

Australasia

                     

Ocean Apex

    6,000     SS 15K   2014     Australia     Woodside   Undisclosed   early May 2019     late Jul 2019       1 well      

Ocean Monarch

    10,000     SS 15K   2008     Australia     Cooper / Exxon   Undisclosed   mid Mar 2018    
mid Oct
2018
 
 
    Well - based contract       1    

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   380,000   late Feb 2018     late Jul 2020       Term extension       49       Maintenance  

Ocean Valor

    10,000     SS 15K DP   2009     Brazil     Petrobras   190,000   early Jul 2017    
late Sept
2018
 
 
   
Rig placed in extended
standby mode
 
 
     




~$40MM
retroactive
credit to be
amortized
over 2 year
extension
 
 
 
 
 
 
          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      

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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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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