| ROWAN COMPANIES, INC. | ||||||||||||||||||
| OFFSHORE RIG FLEET AND CONTRACT STATUS | ||||||||||||||||||
| As of April 17, 2009 | ||||||||||||||||||
| 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: | ||||||||||||||||||
| Rowan EXL #4 | S116-E | 350 | 35,000 | TBD | TBD | TBD | TBD | TBD | Requested shipyard to suspend construction pending decision in coming months to go forward. | |||||||||
| Rowan EXL #3 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in 2010. | |||||||||
| Joe Douglas | 240-C | 400 | 35,000 | TBD | TBD | TBD | TBD | TBD | Rig construction currently suspended; determination to resume construction expected by mid year 2009. | |||||||||
| 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 | April 2009 | ||||||||||
| Egypt | Shell | Low 180s | May 2011 | Rig is contracted 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 | ||||||||||
| 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 | CNR | Mid 300s | May 2009 | ||||||||||
| BG | Low 150s | August 2009 | Rig is expected to enter shipyard in June 2009 for upgrades in connection with Norway assignment. | |||||||||||||||
| BG | Mid 320s | June 2010 | Day rate does not include amortization of related modification revenues. | |||||||||||||||
| BG | Low 300s | December 2010 | ||||||||||||||||
| Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Low 260s | January 2010 | ||||||||||
| Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Gulf of Mexico | W&T | Low 200s | April 2009 | ||||||||||
| Mexico | PEMEX | Mid 150s | July 2011 | Day rate includes estimated amortization of related mobilization/modification revenues. | ||||||||||||||
| Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | Shipyard | Rig is currently in shipyard undergoing certain modifications for work in Eastern Canada; rig experienced 25 days of downtime during March 2009. | |||||||||||
| Eastern Canada | ExxonMobil | Mid 300s | August 2009 | Letter of intent for one well (approximately 90 days); rig is expected to mobilize to Canada at the beginning of May 2009; day rate includes estimated amortization of related mobilization/modification revenues. | ||||||||||||||
| EnCana | Mid 300s | March 2010 | Day rate includes estimated amortization of related mobilization/modification revenues. | |||||||||||||||
| Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | Devon | Low 190s | January 2011 | ||||||||||
| 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 | Available | Rig experienced 11 days of downtime during March 2009. | |||||||||||
| Gilbert Rowe | 116-C | 350 | 30,000 | 1981 | Middle East | Maersk | Low 100s | February 2010 | ||||||||||
| Arch Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Saudi Aramco | Mid 110s | December 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 170s | January 2010 | ||||||||||
| Rowan-Middletown | 116-C | 350 | 30,000 | 1980 | Middle East | Saudi Aramco | Mid 110s | April 2009 | ||||||||||
| Conventional Jack-up Rigs: | ||||||||||||||||||
| Rowan-Juneau | 116 | 250 | 30,000 | 1977 | Gulf of Mexico | Newfield | High 90s | June 2009 | ||||||||||
| Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Apache | Low 70s | June 2009 | Rig experienced 14 days of downtime during March 2009. | |||||||||
| Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Available | Rig experienced 23 days of downtime during March 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 filings with the U. S. Securities and Exchange Commission. | ||||||||||||||||||
| Revisions to Fleet Status Report Noted in Bold | ||||||||||||||||||
