| | NOBLE CORPORATION AND SUBSIDIARIES FLEET STATUS REPORT - January 18, 2011 | | . | | | | Approximate actual and estimated unpaid down time days * |
| | RIG | | RIG DESIGN | | YEAR BUILT / REBUILT | | WATER DEPTH | | LOCATION | | OPERATOR | | ESTIMATED CONTRACT START DATE | | ESTIMATED CONTRACT EXPIRATION DATE | | FULL CONTRACT DAYRATE ($000) | | COMMENTS | | 4Q-10 | 1Q-11 | 1Q-11 | 2Q-11 | 3Q-11 | 4Q-11 |
| | | | | | | | | | | | | | | | | | | | | | A | A | E | E | E | E |
| This fleet status report contains information on contracts and letters of intent or awards with our customers. Letters of intent or awards are noted in the comments section and may not result in an actual drilling contract. The information contained in this fleet status report is as of the date of the report only and is subject to change without notice to the recipient, and we assume no duty to update any portion of the information contained herein. This fleet status report contains statements that are not historical facts, which are “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements about estimated duration of client contracts, contract dayrate amounts, future contract commencement da tes, shipyard projects, our business, financial performance and prospects. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to have been correct. Various factors could cause actual results to differ materially. |
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| Full Contract Dayrate reflects the full daywork operating rate payable to the Company by the operator as provided in the applicable drilling contract unless otherwise specified. The average dayrate over the term of the contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond our control. Our client contracts and operations are generally subject to a number of risks and uncertainties. We discuss these factors, including risks, uncertainties and assumptions concerning actions by our clients, governments and other third parties, drilling activity levels, market conditions, operational difficulties, weather related events and other matters, from time to time in our filings with the U.S. Securities and Exchange Commission (“SEC”), which we urge you to review and which are available free of charge on the SEC’s Web site at www.sec.gov. |
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| | Newbuild Drillship (5) | | | | | | | | | |
| | Noble Globetrotter I - Newbuild | | Globetrotter Class | | 2011 | | 10,000'-DP | | Dalian, China - STX / Netherlands - Huisman | | Shipyard | | | | Mid Oct 2011 | | - | | | | | | | | | |
| | | | | | | | | | In-transit & acceptance testing | | | | Mid Oct 2011 | | Late Dec 2011 | | - | | | | | | | | | |
| | | | | | | | | | US GOM | | Shell | | Early Jan 2012 | | Late Dec 2021 | | 409-411 | | Contract is at a fixed dayrate the first five years and is eligible for a 15% performance bonus. During the second five years, the unit will earn a dayrate based on a market index and also be eligible for a 15% performance bonus. | | | | | | | |
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| | Noble Globetrotter II - Newbuild | | Globetrotter Class | | 2013 | | 10,000'-DP | | Dalian, China - STX / Netherlands - Huisman | | Shipyard | | | | Early Jun 2013 | | - | | | | | | | | | |
| | | | | | | | | | In-transit & acceptance testing | | | | Early Jun 2013 | | Late Oct 2013 | | - | | | | | | | | | |
| | | | | | | | | | TBA | | Shell | | Early Nov 2013 | | Late Oct 2023 | | 409-411 | | Contract is at a fixed dayrate the first five years and is eligible for a 15% performance bonus. During the second five years, the unit will earn a dayrate based on a market index and also be eligible for a 15% performance bonus. | | | | | | | |
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| | Noble Bully I (g) - Newbuild | | GustoMSC Bully PRD 12000 | | 2011 | | 8,200'-DP | | Keppel | | Shipyard | | | | Mid Jul 2011 | | | | | | | | | | | |
| | | | | | | | | | In-transit & acceptance testing | | | | Late Jul 2011 | | Late Nov 2011 | | | | | | | | | | | |
| | | | | | | | | | US GOM | | Shell | | Late Nov 2011 | | Late Nov 2016 | | 440-445 | | Plus four 1-year priced options. | | | | | | | |
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| | Noble Bully II (g) - Newbuild | | GustoMSC Bully PRD 12000 | | 2011 | | 8,200'-DP | | Keppel | | Shipyard | | | | Late Sep 2011 | | | | | | | | | | | |
| | | | | | | | | | In-transit & acceptance testing | | | | Early Oct 2011 | | Mid Dec 2011 | | | | Actual start-up time will be influenced by the length of the customs importation process. | | | | | | | |
| | | | | | | | | | Brazil | | Shell | | LateDec 2011 | | LateDec 2021 | | 440-445 | | Contract is at a fixed dayrate the first five years. During the second five years, the unit will earn a dayrate based on a market index and also be eligible for a 15% performance bonus. | | | | | | | |
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| | Shell Drillship Letter of Intent | | TBA | | TBA | | 8,500'-DP | | TBA | | Shell | | Second half of 2013 | | Late 2018 | | 409-411 | | Eligible for a 15% performance bonus. Actual unit to be determined. Drilling contract term is 5 1/2 years subject to Shell board approval. | | | | | | | |
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| | Newbuild Jackups (2) | | | | | | | | | | | | | | | | | | | | | | | | | |
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| | Noble Jackup I - Newbuild | | F&G JU-3000N | | 2012 | | 400'-IC | | Jurong | | Shipyard | | | | Late Dec 2012 | | | | | | | | | | | |
| | | | | | | | | | In-transit & acceptance testing | | | | Early Jan 2013 | | Early May 2013 | | | | | | | | | | | |
| | | | | | | | | | TBA | | TBA | | TBA | | TBA | | TBA | | Options for up to four additional units which must be exercised by January 1, 2012. Each option unit may be priced individually and is priced based on the original unit price, plus a potential escalation factor, with future deliveries scheduled in six-month increments beginning in late 2013. | | | | | | | |
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| | Noble Jackup II - Newbuild | | F&G JU-3000N | | 2013 | | 400'-IC | | Jurong | | Shipyard | | | | Late Jun 2013 | | | | | | | | | | | |
| | | | | | | | | | In-transit & acceptance testing | | | | Early Jul 2013 | | Early Dec 2013 | | | | | | | | | | | |
| | | | | | | | | | TBA | | TBA | | TBA | | TBA | | TBA | | | | | | | | | |
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| | Other (1) | | | | | | | | | |
| | Seillean - FPSO | | A1 Floating Production & Storage Installation LMC, category 2B ship | | 1989/2008 | | 6,500'-DP | | US GOM | | BP | | Late Jul 2010 | | Late Oct 2010 | | 303-305 | | As previously disclosed, we are in a dispute with BP over amounts owed under the contract, although we believe we have satisfied our obligations under the charter and are owed the amounts due under the charter. Based on the available information and the analysis we have performed to date, we have recorded the revenue under this charter. | | | | | | | |
| | | | | | | | | | | | | | Late Oct 2010 | | | | - | | Available. The unit is currently warm stacked. | | 61 | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | 1176 | 324 | 477 | 402 | 202 | 244 |
| (a) | Unit has been upgraded to the NC-5SM mooring standard. | | |
| (b) | Rig utilizes the Aluminum Alloy Riser technology. | | |
| (c) | In various market segments, the Company contracts with certain parties for the provision of certain local services and advice. Compensation paid to such parties by the Company typically is based on a percentage of the drilling contract’s daywork operating rate, and the Company accounts for such payments in its financial statements in the contract drilling services operating costs and expenses line item. | | Fourth Quarter 2010 Total: (includes: shipyard, stacked and downtime days.) | | 1176 | |
| (d) | Listed rigs are modified bareboat charter; cost structure varies by region. | | |
| (e) | Leg extensions fabricated to enable the rig to operate in up to 390' of water in a non-harsh environment. | | 2011 Total: (includes: shipyard, stacked and downtime days.) | | 1649 | |
| (f) | Rig is currently equipped to operate in 250' of water. Leg extensions fabricated to enable the rig to operate in up to 300' of water. | | |
| (g) | Commitment split 50/50 - Joint Venture between Shell and Noble Corp. | | |
| (h) | The drilling contract provides the client with the right to terminate the contract in the event of excessive downtime. | | |
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| * | A = Actual approximate downtime incurred during the quarter indicated as of the report date; E = Estimated additional downtime days expected to occur as of the report date. | | |
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| # = | Rate withheld at request of operator. | | |
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| Definitions of Date Ranges: | | |
| | Early: 1st - 10th | | |
| | Mid: 11th - 20th | | |
| | Late: 21st - End of Month. | | |
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| | Changes from last Fleet Status Report denoted by Red, Bold, Underlined type. |
