EXHIBIT 99.1
ROWAN COMPANIES, INC. | ||||||||||||||||||
OFFSHORE RIG FLEET AND CONTRACT STATUS | ||||||||||||||||||
As of November 22, 2006 | ||||||||||||||||||
OFFSHORE RIGS | Contract Status | |||||||||||||||||
LeTourneau | Depth (feet) | Year in | Day Rate | Estimated | ||||||||||||||
Name | Class | Water | Drilling | Service | Location | Customer | (in thousands) | Duration | Comments | |||||||||
Cantilever Jack-up Rigs: | ||||||||||||||||||
240C #2 | 240-C | 400 | 35,000 | 2009 | TBD | TBD | TBD | TBD | Rig planned for construction, with delivery expected in 2009. | |||||||||
240C #1 | 240-C | 400 | 35,000 | 2008 | TBD | TBD | TBD | TBD | Rig currently under construction, with delivery expected during 3rd Q 2008. | |||||||||
J.P. Bussell | 225-C | 300 | 35,000 | 2007 | TBD | TBD | TBD | TBD | Rig currently under construction, with delivery expected during 4th Q 2007. | |||||||||
Hank Boswell | 225-C | 300 | 35,000 | 2006 | Gulf of Mexico | Maritech | Mid 160s | January 2007 | Rig commenced operations in GOM on September 23, 2006. | |||||||||
Middle East | Saudi Aramco | Low 190s | March 2011 | Day rate includes estimated amortization of related mobilization/modification revenues starting in March 2007. No revenues will be recorded during January - March 2007 mobilization/modification period (estimated 60-90 days). | ||||||||||||||
Bob Keller | 225-C | 300 | 35,000 | 2005 | Gulf of Mexico | El Paso | Low 170s | January 2008 | Reflects recently exercised option for one additional year at current day rate. | |||||||||
Scooter Yeargain | 225-C | 300 | 35,000 | 2004 | Gulf of Mexico | Shipyard | December 2006 | Rig entered shipyard on November 18th to prepare for four-year Middle East assignment. | ||||||||||
Middle East | Saudi Aramco | Low 190s | March 2011 | Day rate includes estimated amortization of related mobilization/modification revenues starting in March 2007. No revenues will be recorded during November 2006 - March 2007 mobilization/modification period (estimated 105-135 days, including +/- 45 days during 4th Q 2006). | ||||||||||||||
Bob Palmer | 224-C | 550 | 35,000 | 2003 | Gulf of Mexico | Dominion | Mid 170s | December 2006 | ||||||||||
Gulf of Mexico | BP | Low 220s | February 2009 | Day rate includes estimated amortization of related mobilization/modification revenues starting in February 2007. No revenues will be recorded during 30-45 day mobilization/modification period starting in early January 2007. | ||||||||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | North Sea | Maersk | Mid 250s | September 2007 | ||||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | E. Canada | Husky | Low 200s | November 2006 | ||||||||||
North Sea | Talisman | Mid 280s | November 2007 | Base day rate is shown, exclusive of mobilization revenues; ultimate rate depends upon operating area. No revenues will be recorded during November 2006 - January 2007 mobilization period (estimated 30-45 days, including +/- 30 days during 4th Q 2006). | ||||||||||||||
North Sea | BG | Mid 260s | May 2008 | Base day rate is shown, exclusive of mobilization revenues; ultimate rate depends upon operating area. | ||||||||||||||
Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Mid 130s | April 2007 | Rig incurred approximately 7 days of October 2006 downtime due to equipment repairs. | |||||||||
North Sea | Total | Mid 170s | November 2008 | |||||||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Gulf of Mexico | Newfield | Low 160s | November 2006 | ||||||||||
Arena | Low 180s | February 2007 | ||||||||||||||||
Arena | Mid 160s | April 2007 | ||||||||||||||||
Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Trinidad | EOG Trinidad | High 180s | September 2007 | ||||||||||
Trinidad | Petro-Canada | Low 250s | April 2008 | |||||||||||||||
Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | Apache | Low 160s | January 2007 | ||||||||||
Rowan-California | 116-C | 300 | 30,000 | 1983 | Middle East | Saudi Aramco | Mid 110s | April 2009 | ||||||||||
Cecil Provine | 116-C | 300 | 30,000 | 1982 | Gulf of Mexico | Apache | Low 130s | January 2007 | ||||||||||
Gilbert Rowe | 116-C | 350 | 30,000 | 1981 | Middle East | Maersk | Low 190s | January 2009 | Rig departed GOM on November 3, 2006 for two-year Qatar assignment. Day rate includes estimated amortization of related mobilization/modification revenues starting in January 2007. No revenues are recorded during mobilization/modification period (estimated 135-150 days, including all of 4th Q 2006). | |||||||||
Arch Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Saudi Aramco | Mid 110s | April 2009 | ||||||||||
Charles Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Saudi Aramco | Mid 110s | April 2009 | ||||||||||
Rowan-Paris | 116-C | 350 | 30,000 | 1980 | Middle East | Maersk | Low 190s | January 2009 | Rig departed GOM on November 3, 2006 for two-year Qatar assignment. Day rate includes estimated amortization of related mobilization/modification revenues starting in January 2007; no revenues are recorded during mobilization/modification period (estimated 125-140 days, including all of 4th Q 2006). | |||||||||
Rowan-Middletown | 116-C | 350 | 30,000 | 1980 | Middle East | Saudi Aramco | Mid 110s | April 2009 | ||||||||||
Conventional Jack-up Rigs: | ||||||||||||||||||
Rowan-Juneau | 116 | 300 | 30,000 | 1977 | Gulf of Mexico | Newfield | Low 100s | December 2006 | ||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Newfield | Low 140s | December 2006 | ||||||||||
Devon | Mid 120s | March 2007 | ||||||||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Shipyard | December 2006 | Rig is undergoing repairs following 2005 hurricane damage and should return to service in early | ||||||||||
Helix ERT | Mid 90s | January 2007 | December 2006. | |||||||||||||||
Helix ERT | High 100s | March 2007 | ||||||||||||||||
Rowan-Anchorage | 52 | 250 | 20,000 | 1972 | Gulf of Mexico | Samson | Low 70s | December 2006 | Rig incurred approximately 11 days of October 2006 downtime. | |||||||||
Helix ERT | Mid 70s | February 2007 |
Rig Class denotes LeTourneau, Inc. hull number. 200-C is a Gorilla class unit designed for extreme hostile environment capability. 219-C is a Super Gorilla class unit, an enhanced version of the Gorilla class. 224-C is a Super Gorilla XL design. 225-C is a Tarzan Class unit. 240-C is LeTourneau's latest jack-up design. |
ROWAN HEREBY ADVISES THAT THE TABLE SET FORTH ABOVE MAY CONTAIN INACCURATE, INCOMPLETE AND/OR INCORRECT INFORMATION AND IS SUBJECT TO CHANGE AT ANY TIME. |
THE INFORMATION SHOULD NOT BE RELIED UPON FOR ANY PURPOSE, AND ROWAN HEREBY DISCLAIMS ANY LIABILITY RELATING TO THE USE OF THE INFORMATION SET FORTH ABOVE. |
This report contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs and future expected financial performance of the Company that are based on current expectations and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected by the Company. Relevant factors have been disclosed in the Company's filiings with the U. S. Securities and Exchange Commission. |