EXHIBIT 99.1
ROWAN COMPANIES, INC. | ||||||||||||||||||
OFFSHORE RIG FLEET AND CONTRACT STATUS | ||||||||||||||||||
As of December 18, 2008 | ||||||||||||||||||
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 #4 | 240-C | 400 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig planned for construction with delivery expected in 2011. | |||||||||
Rowan EXL #4 | S116-E | 350 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig planned for construction with delivery expected in 2011. | |||||||||
Rowan EXL #3 | S116-E | 350 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in 2011. | |||||||||
Joe Douglas | 240-C | 400 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in 2010. | |||||||||
Rowan EXL #2 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in 2010. | |||||||||
Rowan EXL #1 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in 2010. | |||||||||
Ralph Coffman | 240-C | 400 | 35,000 | 2009 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected during Q4 2009. | |||||||||
J.P. Bussell | 225-C | 300 | 35,000 | 2008 | Gulf of Mexico | Mariner | Low 160s | March 2009 | Rig commenced operations in late November and logged six (6) operating days during November. | |||||||||
Egypt | Shell | Low 180s | May 2011 | Letter of intent for two wells (approximately 20 months) expected to commence during Q4 2009; day rate includes amortization of related mobilization/modification revenues. | ||||||||||||||
Rowan-Mississippi | 240-C | 375 | 35,000 | 2008 | Gulf of Mexico | McMoRan | Low 220s | November 2010 | Rig commenced operations in mid November and logged 12 operating days during November. | |||||||||
Hank Boswell | 225-C | 300 | 35,000 | 2006 | Middle East | Saudi Aramco | Low 190s | March 2011 | ||||||||||
Bob Keller | 225-C | 300 | 35,000 | 2005 | Middle East | Saudi Aramco | Low 180s | May 2011 | ||||||||||
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 | ||||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | West Africa | Cabinda | Low 330s | April 2010 | ||||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | North Sea | BG | Mid 260s | December 2008 | ||||||||||
CNR | Mid 300s | May 2009 | ||||||||||||||||
BG | Low 150s | July 2009 | Rig is expected to enter shipyard in June 2009 for upgrades in connection with Norway assignment. | |||||||||||||||
BG | Mid 360s | May 2010 | Day rate includes estimated amortization of related modification revenues. | |||||||||||||||
Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Low 260s | August 2010 | ||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Gulf of Mexico | W&T | Low 200s | June 2009 | Two wells with a guaranteed minimum term of 150 days. | |||||||||
Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | Devon | Mid 140s | February 2009 | ||||||||||
Eastern Canada | ExxonMobil | Mid 300s | October 2009 | Letter of intent; rig is expected to mobilize to Canada during Q2 2009; day rate includes estimated amortization of related mobilization/modification revenues. | ||||||||||||||
EnCana | Mid 300s | April 2010 | Day rate includes estimated amortization of related mobilization/modification revenues. | |||||||||||||||
Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | El Paso | Mid 170s | January 2009 | ||||||||||
Devon | Low 190s | January 2011 | Two-year term contract; certain rig modifications will be required at a dayrate in the low $120s for up to a maximum period of 21 days. | |||||||||||||||
Rowan-California | 116-C | 300 | 30,000 | 1983 | Middle East | Saudi Aramco | Mid 110s | April 2009 | Customer has an option to extend the contract for one additional year at a day rate in the mid $110s. | |||||||||
Cecil Provine | 116-C | 300 | 30,000 | 1982 | Gulf of Mexico | Apache | Mid 110s | December 2008 | ||||||||||
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 | Customer has an option to extend the contract for one additional year at a day rate in the mid $110s. | |||||||||
Charles Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Saudi Aramco | Mid 110s | April 2009 | Customer has an option to extend the contract for one additional year at a day rate in the mid $110s. | |||||||||
Rowan-Paris | 116-C | 350 | 30,000 | 1980 | Middle East | Maersk | Low 190s | January 2009 | Day rate includes estimated amortization of related mobilization/modification revenues. | |||||||||
Maersk | Low 170s | January 2010 | ||||||||||||||||
Rowan-Middletown | 116-C | 350 | 30,000 | 1980 | Middle East | Saudi Aramco | Mid 110s | April 2009 | Customer has an option to extend the contract for one additional year at a day rate in the mid $110s. | |||||||||
Conventional Jack-up Rigs: | ||||||||||||||||||
Rowan-Juneau | 116 | 250 | 30,000 | 1977 | Gulf of Mexico | Apache | Low 90s | December 2008 | ||||||||||
Newfield | High 90s | June 2009 | ||||||||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Stone Energy | Mid 110s | February 2009 | ||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Helis | Mid 110s | December 2008 | ||||||||||
Newfield | Low 120s | February 2009 |
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. Rowan EXL is an enhanced version of the Super 116E class. 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. |