 ENSCO INTERNATIONAL INCORPORATED |
| Statements contained in the Contract Status of Offshore Rig Fleet Report, including information regarding the Company's estimated rig availability, contract duration or future rig rates, customers or contract status (including letters of intent) are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include references to future rig rates or utilization, rig enhancement projections, shipyard construction or work completion, and other contract or letter of intent commitments, including new rig commitments, the period of time and number of rigs that will be in a shipyard for enhancement or construction, scheduled delivery dates for new rigs, scheduled commencement dates for new contracts and rig relocations. It is important to note that our actual results could differ materially from those projected in such forward-looking statements. The factors that could cause actual results to differ materially from those in the forward-looking statements include the following: (i) industry conditions and competition, including changes in rig supply and demand or new technology, (ii) risks associated with the current global economic crisis and its impact on capital markets and liquidity, (iii) prices of oil and natural gas in general, and the recent precipitous decline in prices in particular, and the impact of commodity prices upon future levels of drilling activity and expenditures, (iv) material changes in the timing of revenue recognition resulting from the deferral of revenues payable by our customers for mobilization of our drilling rigs, time waiting on weather or time in shipyards which are recognized over the contract term upon commencement of drilling operations, (v) excess rig availability or supply resulting from delivery of new drilling rigs, (vi) heavy concentration of our rig fleet in premium jackups, (vii) cyclical nature of the industry, (viii) worldwide expenditures for oil and natural gas drilling, (ix) operational risks, including hazards created by severe storms and hurricanes, (x) risks associated with offshore rig operations or rig relocations in general, and in foreign jurisdictions in particular, (xi) renegotiation, nullification or breach of contracts or letters of intent with customers or other parties, including failure to negotiate definitive contracts following announcements or receipt of letters of intent, (xii) inability to collect receivables, (xiii) changes in the dates new contracts actually commence, (xiv) changes in the dates our rigs will enter a shipyard, be delivered, return to or enter service, (xv) risks inherent to domestic and foreign shipyard rig construction, repair or enhancement, including risks associated with concentration of our ENSCO 8500 Series® rig construction contracts in a single foreign shipyard, unexpected delays in equipment delivery and engineering or design issues following shipyard delivery, (xvi) availability of transport vessels to relocate rigs, (xvii) environmental or other liabilities, risks or losses, whether related to hurricane equipment damage, losses or liabilities (including wreckage or debris removal) in the Gulf of Mexico or otherwise, that may arise in the future and are not covered by insurance or indemnity in whole or in part, (xviii) limited availability of economic insurance coverage for certain perils such as hurricanes in the Gulf of Mexico or associated removal of wreckage or debris, (xix) self-imposed or regulatory limitations on drilling locations in the Gulf of Mexico during hurricane season, (xx) impact of current and future government laws and regulation affecting the oil and gas industry in general and our operations in particular, including taxation as well as repeal or modification of same, (xxi) governmental action, political and economic uncertainties, (xxii) our ability to attract and retain skilled personnel, (xxiii) expropriation, nationalization, deprivation, terrorism or military action impacting our operations, assets or financial performance, (xxiv) outcome of litigation, legal proceedings, investigations or claims, (xxv) adverse changes in foreign currency exchange rates, (xxvi) potential asset impairments, (xxvii) potential reduction in fair value of our auction rate securities and (xxviii) other risks as described from time to time as Risk Factors and otherwise in the Company's SEC filings. Copies of such SEC filings may be obtained at no charge by contacting our investor relations department at 214-397-3045 or by referring to the investor relations section of our website at http://www.enscointernational.com. |
| All information in this report is as of the date posted. The Company undertakes no duty to update the Contract Status of Offshore Rig Fleet Report or any forward-looking statement, to conform the statement to actual results, or reflect changes in the Company's expectations. |
| Est. Avail/ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Water | Contract | ||||||||||||||
| Rig Name | Design | Depth | Customer/Status | Day Rate | Location | Change | Comments | ||||||||
| Asia & Pacific Rim | |||||||||||||||
| Middle East/India | |||||||||||||||
| ENSCO 50 | F&G L-780 Mod II-C | 300 | Available | UAE | |||||||||||
| ENSCO 53 | F&G L-780 Mod II-C | 300 | Shipyard | UAE | Apr. 09 | Next expect to work May 09 to Jan. 10, low 100's and one 3-month same rate option and one 6-month unpriced option | |||||||||
| ENSCO 54 | F&G L-780 Mod II-C | 300 | Bunduq | Low 150's | UAE / Qatar | Nov. 10 | Plus cost adjustments and unpriced option | ||||||||
| ENSCO 76 | MLT Super 116-C | 350 | Saudi Aramco | Mid 120's | Saudi Arabia | Sep. 09 | One 1-year option, high 130's | ||||||||
| ENSCO 84 | MLT 82 SD-C | 250 | Maersk | Low 170's | Qatar | Nov. 09 | Plus cost adjustments | ||||||||
| ENSCO 88 | MLT 82 SD-C | 250 | Ras Gas | Mid 80's | Qatar | Nov. 09 | Expect to enter shipyard in 3Q for approximately 35 days. One 5-well option, high 90's and one 4-well option, mid 110's | ||||||||
| ENSCO 94 | Hitachi 250-C | 250 | Ras Gas | Mid 60's | Qatar | Jun. 10 | One 7-well option, high 60's and one 1-well option, mid 110's | ||||||||
| ENSCO 95 | Hitachi 250-C | 250 | Saudi Aramco | Mid 80's | Saudi Arabia | Nov. 09 | One 1-year option, mid 90's | ||||||||
| ENSCO 96 | Hitachi 250-C | 250 | Available | Bahrain | May 09 | Next to Wintershall in Qatar to Jun. 09, low 120's | |||||||||
| ENSCO 97 | MLT 82 SD-C | 250 | Shipyard | Bahrain | May 09 | ||||||||||
Note: Highlighted/underlined rig names signify changes in rig status information from the previous month. |
ENSCO INTERNATIONAL INCORPORATED |
| Est. Avail/ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Water | Contract | ||||||||||||||
| Rig Name | Design | Depth | Customer/Status | Day Rate | Location | Change | Comments | ||||||||
| Southeast Asia/Australia | |||||||||||||||
| ENSCO 51 | F&G L-780 Mod II-C | 300 | Available | Thailand | |||||||||||
| ENSCO 52 | F&G L-780 Mod II-C | 300 | Petronas Carigali | Mid 160's | Malaysia | Nov. 10 | Plus cost adjustments and mutually agreed options | ||||||||
| ENSCO 56 | F&G L-780 Mod II-C | 300 | Available | Malaysia | |||||||||||
| ENSCO 57 | F&G L-780 Mod II-C | 300 | Petronas Carigali | High 160's | Malaysia | Jan. 10 | Plus cost adjustments and mutually agreed options | ||||||||
| ENSCO 67 | MLT 84-CE | 400 | Available | Malaysia | |||||||||||
| ENSCO 104 | KFELS MOD V-B | 400 | ConocoPhillips | Mid 220's | Australia | Jan. 10 | Previously announced rate of mid 240's reduced for additional term. Plus cost adjustments and seven 1-well unpriced options | ||||||||
| ENSCO 106 | KFELS MOD V-B | 400 | Available | Malaysia | |||||||||||
| ENSCO 107 | KFELS MOD V-B | 400 | OMV | Mid 220's | New Zealand | Aug. 09 | Plus cost adjustments. Rate applicable for 365 days then mutually agreed and four 1-well unpriced options. Thereafter Origin has two 1-well unpriced options and then OMV has five 1-well market priced options | ||||||||
| ENSCO 108 | KFELS MOD V-B | 400 | BP | Low 200's | Indonesia | May 09 | Plus cost adjustments. Next demob to Singapore shipyard for approximately 35 days. Shipyard average rate, low 150's, deferred until contract commencement. Then to Total in Brunei mid Jun. 09 to Jun.10, mid 190's and two 6-month options at market rate | ||||||||
| ENSCO I | Barge Rig | Available | Singapore | Stacked in Singapore | |||||||||||
Europe & Africa North Sea | |||||||||||||||
| ENSCO 70 | Hitachi K1032N | 250 | Perenco | Mid 190's | UK | May 09 | |||||||||
| ENSCO 71 | Hitachi K1032N | 225 | Maersk | Low 200's | DK | Aug. 09 | Two 1-year options, 1st year high 210's and 2nd year high 220's | ||||||||
| ENSCO 72 | Hitachi K1025N | 225 | ATP | Mid 210's | UK | Jun. 09 | Plus cost adjustments | ||||||||
| ENSCO 80 | MLT 116-CE | 225 | ConocoPhillips | Mid 210's | UK | Jun. 12 | Expect contract to be suspended Sep. 09 to Jan. 10 at zero rate (available for sublet). Plus cost adjustments. Rates mutually agreed annually | ||||||||
| ENSCO 92 | MLT 116-C | 225 | Shipyard | UK | Apr. 09 | Next to East Irish Sea Consortium to Dec. 09, mid 210's plus cost adjustments and three unpriced 1-well options | |||||||||
| ENSCO 100 | MLT 150-88-C | 350 | Petro Canada | Low 200's | DK | May 09 | Plus cost adjustments. Next expect to enter shipyard for approximately 120 days | ||||||||
| ENSCO 101 | KFELS MOD V-A | 400 | Maersk | Low 270's | DK | Apr. 09 | Next to Gaz de France Suez to Sep. 09, high 270's plus cost adjustments | ||||||||
| ENSCO 102 | KFELS MOD V-A | 400 | ConocoPhillips | High 280's | UK / DK | Dec. 11 | Rate reduced to high 190's starting Sep. 09 to Feb. 10. Plus cost adjustments. Thereafter rates to be negotiated | ||||||||
Africa | |||||||||||||||
| ENSCO 85 | MLT 116-C | 300 | PA Resources | Mid 120's | Tunisia | Jun. 09 | |||||||||
| ENSCO 105 | KFELS MOD V-B | 400 | BG | Low 200's | Tunisia | May 10 | Plus cost adjustments and unpriced option | ||||||||
Note: Highlighted/underlined rig names signify changes in rig status information from the previous month. Please note forward-looking statement disclaimer at the top of the first page. |
ENSCO INTERNATIONAL INCORPORATED |
| Est. Avail/ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Water | Contract | ||||||||||||||
| Rig Name | Design | Depth | Customer/Status | Day Rate | Location | Change | Comments | ||||||||
| North & South America | |||||||||||||||
| Gulf of Mexico | |||||||||||||||
| ENSCO 60 | Levingston 111-C | 300 | Available | Gulf of Mexico | |||||||||||
| ENSCO 75 | MLT Super 116-C | 400 | Eni | Mid 170's | Gulf of Mexico | Apr. 09 | Next to ANKOR to Jul. 09, low 100's and unpriced options | ||||||||
| ENSCO 82 | MLT 116-C | 300 | Hunt Oil | Low 100's | Gulf of Mexico | May 09 | Then to Chevron to Jan. 10, mid 150's | ||||||||
| ENSCO 83 | MLT 82 SD-C | 250 | ANKOR | Low 100's | Gulf of Mexico | Jun. 09 | Low 100's from Mar. 09. Work program moved to ENSCO 75 due to hurricane season | ||||||||
| ENSCO 86 | MLT 82 SD-C | 250 | Apache | Low 60's | Gulf of Mexico | Jun. 09 | |||||||||
| ENSCO 87 | MLT 116-C | 350 | ExxonMobil | Low 110's | Gulf of Mexico | Apr. 09 | |||||||||
| ENSCO 90 | MLT 82 SD-C | 250 | Apache | Mid 50's | Gulf of Mexico | Apr. 09 | Next to shipyard to Sep. 09, then to Pemex in Mexico commencing Sep. 09 to Nov. 12, low 110's plus cost adjustments | ||||||||
| ENSCO 99 | MLT 82 SD-C | 250 | ExxonMobil | Low 80's | Gulf of Mexico | Jun. 09 | Well to well, indexed rate | ||||||||
| Mexico | |||||||||||||||
| ENSCO 81 | MLT 116-C | 350 | Pemex | Mid 160's | Mexico | Aug. 10 | Indexed to global rates, adjusts Jun. 09 | ||||||||
| ENSCO 89 | MLT 82 SD-C | 250 | Pemex | Mid 150's | Mexico | Mar. 12 | Rates adjust to global index rate after initial 6 months (Aug. 09) and every 3 months thereafter | ||||||||
| ENSCO 93 | MLT 82 SD-C | 250 | Inspection | Mexico | Apr. 09 | Next to Pemex mid Apr. 09 to Mar. 12, mid 160's. Rates adjust to global index rate after initial 6 months (Oct. 09) and every 3 months thereafter | |||||||||
| ENSCO 98 | MLT 82 SD-C | 250 | Shipyard | Gulf of Mexico | May 09 | Next to Pemex in Mexico May 09 to Apr. 12, low 110's plus cost adjustments | |||||||||
Venezuela | |||||||||||||||
| ENSCO 68 | MLT 84-CE | 400 | Chevron | Low 200's | Venezuela | Dec. 09 | Approximately 26-day mobilization revenue deferred and amortized over contract, low 150's plus cost adjustments | ||||||||
| ENSCO 69 | MLT 84-S | 400 | PDVSA | Mid 180's | Venezuela | Aug. 10 | Plus cost adjustments and three 1-year unpriced options (Note: See Form 8-K filed with SEC on Jan. 28, 2009 re: dispute over non-payment of invoices by PDVSA) | ||||||||
Deepwater | |||||||||||||||
| ENSCO 7500 | Dynamically Positioned | 8000 | Chevron | Low 550's | Australia | Sep. 10 | Mob rate of mid 360's deferred and amortized over contract. Plus cost adjustments and unpriced options. Assigned to ExxonMobil for an estimated 64-day well | ||||||||
| ENSCO 8500 | Dynamically Positioned | 8500 | Sea Trials/ Outfitting | Gulf of Mexico | Jun. 09 | Contracted to Anadarko and Eni commencing Jun. 09 to Jun. 13, mid 270's plus cost adjustments & lump sum payment of $20 million, and four 1-year same-rate options | |||||||||
| ENSCO 8501 | Dynamically Positioned | 8500 | Under construction | Singapore | Jun. 09 | Contracted in Gulf of Mexico to Nexen and Noble Energy commencing late 3Q 09 to 1Q 13, mid 350's plus cost adjustments and unpriced options | |||||||||
| ENSCO 8502 | Dynamically Positioned | 8500 | Under construction | Singapore | 1Q 10 | Contracted in Gulf of Mexico to Nexen commencing 2Q 10 to 2Q 12, low 470's plus cost adjustments. Contract can change to 3 or 4 year term at operator's election wherein the day rate would adjust to slightly lower rates | |||||||||
| ENSCO 8503 | Dynamically Positioned | 8500 | Under construction | Singapore | 4Q 10 | Contracted in Gulf of Mexico to Cobalt commencing early 2011 for 2 years, mid 510's plus cost adjustments and unpriced option | |||||||||
| ENSCO 8504 | Dynamically Positioned | 8500 | Under construction | Singapore | 2H 11 | ||||||||||
| ENSCO 8505 | Dynamically Positioned | 8500 | Under construction | Singapore | 1H 12 | ||||||||||
| ENSCO 8506 | Dynamically Positioned | 8500 | Under construction | Singapore | 2H 12 | ||||||||||
Note: Highlighted/underlined rig names signify changes in rig status information from the previous month. Please note forward-looking statement disclaimer at the top of the first page. |