EXHIBIT 99.1
ROWAN COMPANIES, INC. | ||||||||||||||||||
OFFSHORE RIG FLEET AND CONTRACT STATUS | ||||||||||||||||||
As of December 20, 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 | Shipyard | December 2006 | Rig entered shipyard on December 15th 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 late March 2007. No revenues will be recorded during December 2006 - March 2007 mobilization/modification period (estimated +/- 105 days, including most of 1st Q 2007). | ||||||||||||||
Bob Keller | 225-C | 300 | 35,000 | 2005 | Gulf of Mexico | El Paso | Low 170s | January 2008 | ||||||||||
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 late March 2007. No revenues will be recorded during November 2006 - March 2007 mobilization/modification period (estimated +/- 135 days, including most of 1st Q 2007). | ||||||||||||||
Bob Palmer | 224-C | 550 | 35,000 | 2003 | Gulf of Mexico | Dominion | Mid 170s | February 2007 | ||||||||||
BP | Low 220s | April 2009 | Day rate includes estimated amortization of related mobilization/modification revenues starting in April 2007. No revenues will be recorded during +/- 45 day mobilization/modification period starting in February 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 | Shipyard | January 2007 | Rig entered shipyard on November 19th to prepare for early January 2007 mobilization to North Sea. | ||||||||||
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 shipyard/mobilization period (estimated +/- 75 days, including +/- 30 days during 1st Q 2007). | ||||||||||||||
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 four days of November 2006 downtime due to equipment repairs. | |||||||||
Total | Mid 170s | November 2008 | ||||||||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Gulf of Mexico | Arena | Low 180s | January 2007 | Rig incurred approximately six days of November 2006 downtime due to inspections. | |||||||||
Arena | Mid 160s | April 2007 | ||||||||||||||||
Plains | Mid 180s | October 2007 | ||||||||||||||||
Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Trinidad | EOG Trinidad | High 180s | September 2007 | ||||||||||
Petro-Canada | Low 250s | April 2008 | ||||||||||||||||
Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | Dominion | Low 170s | March 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 | March 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 | Shipyard | December 2006 | Rig entered shipyard for inspections on December 8th. | ||||||||||
Seneca | Low 70s | February 2007 | ||||||||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Devon | Mid 120s | March 2007 | ||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Helix ERT | Mid 90s | January 2007 | Rig underwent repairs following 2005 hurricane damage and returned to service on December 12th. | |||||||||
Helix ERT | High 100s | March 2007 | ||||||||||||||||
Rowan-Anchorage | 52 | 250 | 20,000 | 1972 | Gulf of Mexico | Helix ERT | Low 60s | January 2007 | ||||||||||
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. |