 ENSCO INTERNATIONAL INCORPORATED |
| Statements contained in the Rig Contract Status Report and the related news release dated July 15, 2009, including information regarding the future status of ENSCO 69 in general, and the anticipated pursuit of insurance and legal claims related to ENSCO 69 in particular, and the Rig Status Report entries regarding the Company's estimated rig availability, contract duration, future rig rates and cost adjustments, 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 insurance and legal claims, future rig rates, cost adjustments, 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 repairs, maintenance, enhancement or construction, scheduled delivery dates for new rigs and 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) recoverability of insurance and legal claims, (ii) industry conditions and competition, including changes in rig supply and demand or new technology, (iii) risks associated with the current global economic crisis and its impact on capital markets and liquidity, (iv) 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, (v) 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, (vi) excess rig availability or supply resulting from delivery of new drilling rigs, (vii) heavy concentration of our rig fleet in premium jackups, (viii) cyclical nature of the industry, (ix) worldwide expenditures for oil and natural gas drilling, (x) operational risks, including hazards created by severe storms and hurricanes, (xi) risks associated with offshore rig operations or rig relocations in general and in foreign jurisdictions in particular, (xii) 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, (xiii) inability to collect receivables, including reimbursable cost adjustments (xiv) changes in the dates new contracts actually commence, (xv) changes in the dates our rigs will enter a shipyard, be delivered, return to service or enter service, (xvi) 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, (xvii) availability of transport vessels to relocate rigs, (xviii) 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, (xix) 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, (xx) self-imposed or regulatory limitations on drilling locations in the Gulf of Mexico during hurricane season, (xxi) 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, (xxii) governmental action and political and economic uncertainties, including expropriation, nationalization, confiscation or deprivation of our assets, (xxiii) terrorism or military action impacting our operations, assets or financial performance, (xxiv) our ability to attract and retain skilled personnel, (xxv) outcome of litigation, legal proceedings, investigations or claims, (xxvi) adverse changes in foreign currency exchange rates, including their impact on the fair value measurement of our derivative financial instruments, (xxvii) potential long-lived asset or goodwill impairments, (xxviii) potential reduction in fair value of our auction rate securities and (xxix) 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 and related news release is as of the date posted. The Company undertakes no duty to update any forward-looking statement, to conform the statement to actual results, or reflect changes in the Company's expectations. |
| Bolded rig names and underlined text signify changes in rig status from the previous month. |
| Est. Avail/ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment | Water | Day Rate | Contract | ||||||||||||
| Region / Rig | Design (1) | Depth' (1) | Customer/Status | $US | Location | Change | Comments | ||||||||
| Deepwater Australia | |||||||||||||||
| ENSCO 7500 | Dynamically Positioned | 8000 | Chevron | Low 550s | Australia | Sep. 10 | Mob rate of mid 360s deferred and amortized over contract. Plus cost adjustments and unpriced options. Assigned to ExxonMobil for an estimated 64-day well | ||||||||
U.S. Gulf of Mexico | |||||||||||||||
| ENSCO 8500 | Dynamically Positioned | 8500 | Eni/Anadarko | Mid 270s | Gulf of Mexico | Jun. 13 | Plus lump sum payment of $20 million and reimbursable costs of $27 million amortized over contract and cost adjustments. Four 1-year same-rate options | ||||||||
| ENSCO 8501 | Dynamically Positioned | 8500 | Mobilize/ sea trials/ outfitting | Gulf of Mexico | Oct. 09 | Next commences operations for Nexen and Noble Energy mid Oct. 09 to 2Q13, mid 350s plus cost adjustments and unpriced options | |||||||||
| ENSCO 8502 | Dynamically Positioned | 8500 | Under construction | Singapore | 1Q10 | Contracted in Gulf of Mexico to Nexen commencing late 2Q10 to 2Q12, low 470s plus cost adjustments. Contract can change to 3 or 4 year term at operator's election at the same day rate | |||||||||
| ENSCO 8503 | Dynamically Positioned | 8500 | Under construction | Singapore | 4Q10 | Contracted in Gulf of Mexico to Cobalt commencing early 2011 for 2 years, mid 510s plus cost adjustments and unpriced option | |||||||||
Under Construction - uncontracted | |||||||||||||||
| ENSCO 8504 | Dynamically Positioned | 8500 | Under construction | Singapore | 2H11 | ||||||||||
| ENSCO 8505 | Dynamically Positioned | 8500 | Under construction | Singapore | 1H12 | ||||||||||
| ENSCO 8506 | Dynamically Positioned | 8500 | Under construction | Singapore | 2H12 | ||||||||||
(1) ENSCO 8500 Series ® rigs are proprietary design, ultra-deepwater, dynamically positoned, semisubmersibles and may be modified for drilling in up to 10,000' water depths. |
ENSCO INTERNATIONAL INCORPORATED |
| Bolded rig names and underlined text signify changes in rig status from the previous month. |
| Est. Avail/ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment | Water | Day Rate | Contract | ||||||||||||
| Region / Rig | 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 100s | 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 | ADOC | Low 150s | UAE / Qatar | Nov. 10 | Plus cost adjustments and unpriced option | ||||||||
| ENSCO 76 | MLT Super 116-C | 350 | Saudi Aramco | Mid 120s | Saudi Arabia | Sep. 09 | One 1-year option, high 130s | ||||||||
| ENSCO 84 | MLT 82 SD-C | 250 | Maersk | Low 170s | Qatar | Nov. 09 | Plus cost adjustments | ||||||||
| ENSCO 88 | MLT 82 SD-C | 250 | Shipyard/ Ras Gas | Average Low 70s | Bahrain/ Qatar | Dec. 09 | Average shipyard rate to Sep. 09, low 70s. Then return to operations, mid 80s. One 5-well option, high 90s and one 4-well option, mid 110s | ||||||||
| ENSCO 94 | Hitachi 250-C | 250 | Ras Gas | Mid 60s | Qatar | May 12 | Rate increases Jun. 10, high 60s. One 1-well option, mid 110s | ||||||||
| ENSCO 95 | Hitachi 250-C | 250 | Saudi Aramco | Mid 80s | Saudi Arabia | Nov. 09 | One 1-year option, mid 90s | ||||||||
| 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 160s | Malaysia | Nov. 10 | Plus cost adjustments and unpriced 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 | Mid 160s | Malaysia | Jan. 10 | Reduced cost adjustment. Unpriced options | ||||||||
| ENSCO 67 | MLT 84-CE | 400 | Available | Malaysia | |||||||||||
| ENSCO 104 | KFELS MOD V-B | 400 | ConocoPhillips | Mid 210s | Australia | Jan. 10 | Reduced cost adjustment (low 10s) effective from contract commencement late Mar. 09. 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 220s | New Zealand | Oct. 09 | Options exercised starting late Jul. to Sep. 09, low 190s, then to early Oct. 09, mid 180s, then to late Oct. 09, low 190s and one 1-well unpriced option. 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 | Total | Mid 190s | Brunei | Jun. 10 | Shipyard average day rate, low 150s, deferred and amortized over contract. Two 6-month options at market rate. Option exercise would result in a retroactive reduction in firm period rate to low 160s with options at market rate but floor in low 140s for first option period | ||||||||
| ENSCO I | Barge Rig | Cold stacked | Singapore | ||||||||||||
Please read the forward-looking statement disclaimer at the top of the first page. |
ENSCO INTERNATIONAL INCORPORATED |
| Bolded rig names and underlined text signify changes in rig status from the previous month. |
| Est. Avail/ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment | Water | Day Rate | Contract | ||||||||||||
| Region / Rig | Design | Depth' | Customer/Status | $US | Location | Change | Comments | ||||||||
| Europe & Africa North Sea | |||||||||||||||
| ENSCO 70 | Hitachi K1032N | 250 | Maersk | Mid 110s | Denmark | Aug. 09 | On accommodation and six 1-week options, low 110s | ||||||||
| ENSCO 71 | Hitachi K1032N | 225 | Maersk | Low 200s | Denmark | Aug. 09 | |||||||||
| ENSCO 72 | Hitachi K1025N | 225 | Available | ----------- | UK | ----------- | --------------------- | ||||||||
| ENSCO 80 | MLT 116-CE | 225 | ConocoPhillips | Low 100s | UK | Dec. 12 | In non-drilling support mode to Sep. 09 plus cost adjustments. Then contract to be suspended to Jan. 10 with expected sublet to Nov. 09, low 130s plus approximately 14 days accommodation mode, low 80s. Rates mutually agreed annually | ||||||||
| ENSCO 92 | MLT 116-C | 225 | EIS Consortium* | Mid 210s | UK | Feb. 10 | Plus cost adjustments. Options exercised, rate from Jan. 10, low 150s | ||||||||
| ENSCO 100 | MLT 150-88-C | 350 | Shipyard | Poland | Oct. 09 | ||||||||||
| ENSCO 101 | KFELS MOD V-A | 400 | Available | ----------- | UK | ----------- | --------------------- | ||||||||
| ENSCO 102 | KFELS MOD V-A | 400 | ConocoPhillips | High 280s | UK | Dec. 11 | Rate mid Aug. 09 to Jan. 10, low 200s plus cost adjustments. Thereafter rates to be negotiated | ||||||||
Africa | |||||||||||||||
| ENSCO 85 | MLT 116-C | 300 | PA Resources | Mid 120s | Tunisia | Jul. 09 | |||||||||
| ENSCO 105 | KFELS MOD V-B | 400 | BG | Low 200s | Tunisia | May 10 | Plus cost adjustments and unpriced option | ||||||||
*EIS (East Irish Sea Consortium) - Venture, BHPB, HRL Centrica, EOG |
| North & South America | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 100s | Gulf of Mexico | Jul. 09 | Next to Apache to Aug. 09, low 110s | ||||||||
| ENSCO 82 | MLT 116-C | 300 | Chevron | Mid 150s | Gulf of Mexico | Jan. 10 | |||||||||
| ENSCO 83 | MLT 82 SD-C | 250 | Shipyard | Gulf of Mexico | Aug. 09 | Next to Pemex in Mexico commencing Sep. 09 to Nov. 12, low 110s plus cost adjustments | |||||||||
| ENSCO 86 | MLT 82 SD-C | 250 | Available | -------- | Gulf of Mexico | -------- | |||||||||
| ENSCO 87 | MLT 116-C | 350 | ExxonMobil | Low 80s | Gulf of Mexico | Jul. 09 | Next to shipyard for approximately 30 days | ||||||||
| ENSCO 90 | MLT 82 SD-C | 250 | Cold stacked | Gulf of Mexico | |||||||||||
| ENSCO 99 | MLT 82 SD-C | 250 | Available | -------- | Gulf of Mexico | -------- | --------------------- | ||||||||
| Mexico | |||||||||||||||
| ENSCO 81 | MLT 116-C | 350 | Pemex | Low 100s | Mexico | Jun. 10 | Indexed to global rates, adjusts late Dec. 09 | ||||||||
| ENSCO 89 | MLT 82 SD-C | 250 | Pemex | Mid 150s | 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 160s | 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 110s | Mexico | Apr. 12 | Plus cost adjustments | ||||||||
Venezuela | |||||||||||||||
| ENSCO 68 | MLT 84-CE | 400 | Chevron | Low 200s | Venezuela | Dec. 09 | Chevron assigned contract to Repsol to Sep. 09 plus one same rate 1-well option. Then to MORUY II (Teikoku) to Dec. 09 | ||||||||
| ENSCO 69 | MLT 84-S | 400 | Discontinued Operations | Venezuela | (Note: See Ensco News Release dated July 15 relating to this Rig Contract Status Report. ENSCO 69 will not be reflected in future reports.) | ||||||||||
Please read the forward-looking statement disclaimer at the top of the first page. |