EXHIBIT 99.1
ROWAN COMPANIES, INC. | ||||||||||||||||||
OFFSHORE RIG FLEET AND CONTRACT STATUS | ||||||||||||||||||
As of September 19, 2007 | ||||||||||||||||||
OFFSHORE RIGS | Contract Status | |||||||||||||||||
LeTourneau | Depth (feet) | Year in | Day Rate | Estimated | ||||||||||||||
Name | Class | Water | Drilling | Service | Location | Customer | (in thousands) | Duration | Comments ($ in thousands) | |||||||||
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 3Q 2008. | |||||||||
J.P. Bussell | 225-C | 300 | 35,000 | 2007 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected during 3Q 2008. | |||||||||
Hank Boswell | 225-C | 300 | 35,000 | 2006 | Middle East | Saudi Aramco | Low 190s | March 2011 | ||||||||||
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 | Middle East | Saudi Aramco | Low 190s | March 2011 | ||||||||||
Bob Palmer | 224-C | 550 | 35,000 | 2003 | Gulf of Mexico | BP | Low 220s | June 2009 | BP assigned the contract to Petrobras for one well. | |||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | North Sea | Maersk | Mid 250s | October 2007 | ||||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | North Sea | Talisman | Mid 290s | November 2007 | ||||||||||
BG | Mid 260s | May 2008 | Base day rate is shown, exclusive of contract mobilization/modification payments. Depending upon the operating area, total revenues are expected to average between $310 and $370 per day. | |||||||||||||||
Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Mid 170s | March 2009 | Rig incurred approximately two days of August downtime. | |||||||||
Total | Low 260s | August 2010 | ||||||||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Gulf of Mexico | PXP | Mid 180s | March 2008 | ||||||||||
Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Trinidad | Petro-Canada | Low 250s | March 2008 | ||||||||||
Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | Devon | Mid 170s | April 2008 | ||||||||||
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 100s | September 2007 | Rig is expected to enter shipyard on September 20 for approximately 10 days for inspections. | |||||||||
Gilbert Rowe | 116-C | 350 | 30,000 | 1981 | Middle East | Maersk | Low 190s | January 2009 | ||||||||||
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 | ||||||||||
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 | ENI | Mid 100s | October 2007 | ||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Devon | Low 100s | January 2008 | ||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Helix ERT | Mid 90s | October 2007 | ||||||||||
Rowan-Anchorage | 52 | 250 | 20,000 | 1972 | Gulf of Mexico | Helix ERT | Mid 60s | October 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, and 224-C is a Super Gorilla XL design. 225-C is a Tarzan Class unit. 240-C is LeTourneau's latest jack-up design. Unless otherwise indicated, all day rates include estimated amortization of contract mobilization/modification revenues. Estimated contract durations reflect either stated drilling periods or expected time required for the contracted well or wells. |
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. |