![]() ENSCO INTERNATIONAL INCORPORATED |
Statements contained in the Rig Contract Status 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 decline in prices in particular and the impact of commodity prices upon future levels of drilling activity and expenditures, (iv) changes in the timing of revenue recognition resulting from the deferral of revenues payable by our customers (which are recognized over the contract term upon commencement of drilling operations) for mobilization of our drilling rigs, time waiting on weather or time in shipyards, (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 service 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 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 or high cost of 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 and political and economic uncertainties, including expropriation, nationalization, confiscation or deprivation of our assets, (xxii) expropriation, nationalization, deprivation, terrorism or military action impacting our operations, assets or financial performance, (xxiii) our ability to attract and retain skilled personnel, (xxiv) outcome of litigation, legal proceedings, investigations or claims, (xxv) adverse changes in foreign currency exchange rates, including their impact on the fair value measurement of our derivative financial instruments, (xxvi) potential long-lived asset or goodwill 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 www.enscointernational.com. |
All information in this report is as of the date posted. The Company undertakes no duty to update the Rig Contract Status Report or any forward-looking statement, to conform the statement to actual results, or reflect changes in the Company's expectations. |
Est. Avail/ | |||||||||||||||
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Water | Day Rate | Contract | |||||||||||||
Rig / Region | Design | Depth' | Customer/Status | $US | Location | Change | Comments | ||||||||
Deepwater Australia | |||||||||||||||
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 | ||||||||
Gulf of Mexico | |||||||||||||||
ENSCO 8500 | Dynamically Positioned | 8500 | Eni/Anadarko | Mid 270's | Gulf of Mexico | Jun. 13 | Commenced operations Jun. 6, 2009. Lump sum payment of $20 million amortized over contract. Plus cost adjustments and four 1-year same-rate options | ||||||||
ENSCO 8501 | Dynamically Positioned | 8500 | Load/ mobilize/ sea trials/ outfitting | Gulf of Mexico | Oct. 09 | Delivered from shipyard in Singapore Jun. 8, 2009. Next commences operations for Nexen and Noble Energy mid Oct. 09 to 2Q 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 late 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 | |||||||||
Under Construction - uncontracted | |||||||||||||||
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: Bolded rig name and underlined text signify changes in rig status information from the previous month. |
![]() ENSCO INTERNATIONAL INCORPORATED |
Est. Avail/ | |||||||||||||||
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Water | Day Rate | Contract | |||||||||||||
Rig / Region | Design | Depth' | Customer/Status | $US | 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 | BG | Low 100's | India | Feb. 10 | Plus 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 | Dec. 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 | ----------- | |||||||||
ENSCO 97 | MLT 82 SD-C | 250 | Available | Bahrain | ----------- | ||||||||||
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 | 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 | Sep. 09 | One 1-well option exercised starting mid Aug. 09, low 190's plus cost adjustments and three 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 | Mobilizing/ Total | Brunei | Jun. 10 | Shipyard average day rate, low 150's, deferred until contract commencement. Expected to commence operations mid Jun. 09, mid 190's and two 6-month options at market rate. Option exercise would result in a retroactive reduction in firm period rate to low 160's with options at market rate but floor in low 140's for first option period | |||||||||
ENSCO I | Barge Rig | Cold stacked | Singapore |
Note: Bolded rig name and underlined text 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/ | |||||||||||||||
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Water | Day Rate | Contract | |||||||||||||
Rig / Region | Design | Depth' | Customer/Status | $US | Location | Change | Comments | ||||||||
Europe & Africa North Sea | |||||||||||||||
ENSCO 70 | Hitachi K1032N | 250 | Shipyard | Denmark | Jul. 09 | Next to Maersk on accommodation to Sep. 09, mid 110's and six 1-week options, low 110's | |||||||||
ENSCO 71 | Hitachi K1032N | 225 | Maersk | Low 200's | Denmark | Aug. 09 | --------------------- | ||||||||
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 | Jul. 12 | Expect to work in non-drilling support mode Jul. 09 to Sep. 09, low 100's. Then expect contract to be suspended to Jan. 10 at zero rate (available for sublet). Plus cost adjustments. Rates mutually agreed annually | ||||||||
ENSCO 92 | MLT 116-C | 225 | EIS Consortium* | Mid 210's | UK | Jan. 10 | Plus cost adjustments and three unpriced 1-well options | ||||||||
ENSCO 100 | MLT 150-88-C | 350 | Shipyard | Poland | Oct. 09 | ||||||||||
ENSCO 101 | KFELS MOD V-A | 400 | GdF Suez | Low 280's | UK | Aug. 09 | Plus cost adjustments | ||||||||
ENSCO 102 | KFELS MOD V-A | 400 | ConocoPhillips | High 280's | UK / Denmark | Dec. 11 | Rate Sep. 09 to Feb. 10, low 200's plus cost adjustments. Thereafter rates to be negotiated | ||||||||
Africa | |||||||||||||||
ENSCO 85 | MLT 116-C | 300 | PA Resources | Mid 120's | Tunisia | Jul. 09 | |||||||||
ENSCO 105 | KFELS MOD V-B | 400 | BG | Low 200's | Tunisia | May 10 | Plus cost adjustments and unpriced option |
*EIS (East Irish Sea Consortium) - EOG, Challenger, Venture, BHPB, HRL Centrica |
North & South America | |||||||||||||||
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U.S. Gulf of Mexico | |||||||||||||||
ENSCO 60 | Levingston 111-C | 300 | Cold stacked | Gulf of Mexico | |||||||||||
ENSCO 75 | MLT Super 116-C | 400 | ANKOR | Low 100's | Gulf of Mexico | Jul. 09 | --------------------- | ||||||||
ENSCO 82 | MLT 116-C | 300 | Chevron | Mid 150's | Gulf of Mexico | Jan. 10 | |||||||||
ENSCO 83 | MLT 82 SD-C | 250 | Shipyard | ----------- | Gulf of Mexico | Sep. 09 | Next to Pemex in Mexico (substituted for ENSCO 90) commencing Sep. 09 to Nov. 12, low 110's plus cost adjustments | ||||||||
ENSCO 86 | MLT 82 SD-C | 250 | Apache | Low 60's | Gulf of Mexico | Jul. 09 | |||||||||
ENSCO 87 | MLT 116-C | 350 | ExxonMobil | Low 80's | Gulf of Mexico | Jul. 09 | |||||||||
ENSCO 90 | MLT 82 SD-C | 250 | Cold stacked | Gulf of Mexico | -------- | --------------------- | |||||||||
ENSCO 99 | MLT 82 SD-C | 250 | ExxonMobil | Mid 70's | Gulf of Mexico | Jun. 09 | Next to Newfield to Jul. 09, high 40's | ||||||||
Mexico | |||||||||||||||
ENSCO 81 | MLT 116-C | 350 | Pemex | Mid 160's | Mexico | Jun. 10 | Indexed to global rates, adjusts late Jun. 09 to low 100's | ||||||||
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 | Pemex | Mid 160's | Mexico | Mar. 12 | Rates adjust to global index rate after initial 6 months (Oct. 09) and every 3 months thereafter | ||||||||
ENSCO 98 | MLT 82 SD-C | 250 | Pemex | Low 110's | Mexico | Apr. 12 | Plus cost adjustments | ||||||||
Venezuela | |||||||||||||||
ENSCO 68 | MLT 84-CE | 400 | Chevron | Low 200's | Venezuela | Dec. 09 | Chevron assigned contract to Repsol to Sep. 09 plus one same rate 1-well option. Then to Teikoku to Dec. 09 | ||||||||
ENSCO 69 | MLT 84-S | 400 | ----------- | ----------- | Venezuela | -------- | (Note: See Ensco News Release dated June 8, 2009 regarding the dispute over PDVSA's non-payment of invoices and Ensco's contract termination) |
Note: Bolded rig name and underlined text signify changes in rig status information from the previous month. Please note forward-looking statement disclaimer at the top of the first page. |