ROWAN COMPANIES, INC. | ||||||||||||||||
LAND RIG FLEET AND CONTRACT STATUS | ||||||||||||||||
As of May 18, 2009 | ||||||||||||||||
ONSHORE RIGS | Maximum | Contract Status | ||||||||||||||
Horsepower | Drilling | Estimated | ||||||||||||||
Name | Type | Drawworks | Mud Pumps | Depth (feet) | Location | Customer | Duration | Comments | ||||||||
Rig 9 | Diesel electric | 2,000 | 3,200 | 20,000 | Texas | Available | Rig is currently cold stacked. | |||||||||
Rig 12 | SCR diesel electric | 1,500 | 2,600 | 18,000 | Louisiana | Midstates | June 2009 | |||||||||
Rig 14 | AC electric | 3,000 | 3,200 | 35,000 | Texas | Available | Prior customer will pay a reduced rate through mid November 2009. | |||||||||
Rig 15 | AC electric | 3,000 | 3,200 | 35,000 | Texas | Forest Oil | July 2009 | |||||||||
Rig 18 | SCR diesel electric | 2,000 | 4,400 | 25,000 | Texas | Available | ||||||||||
Rig 26 | SCR diesel electric | 2,000 | 4,800 | 25,000 | Texas | Available | ||||||||||
Rig 29 | Mechanical | 1,500 | 2,600 | 18,000 | Texas | Available | Rig is currently cold stacked. | |||||||||
Rig 30 | AC electric | 2,000 | 2,600 | 20,000 | Texas | BBX | October 2009 | |||||||||
Rig 31 | SCR diesel electric | 3,000 | 4,400 | 35,000 | Texas | Available | ||||||||||
Rig 33 | SCR diesel electric | 1,500 | 3,200 | 18,000 | Texas | Devon | June 2009 | Rig is currently stacked at a reduced rate. | ||||||||
Rig 34 | SCR diesel electric | 2,000 | 4,400 | 25,000 | Texas | Available | Rig is currently cold stacked. | |||||||||
Rig 35 | SCR diesel electric | 1,500 | 4,400 | 18,000 | Texas | EnCana | May 2009 | |||||||||
Cabot | June 2010 | |||||||||||||||
Rig 51 | SCR diesel electric | 2,000 | 4,400 | 25,000 | Texas | Newfield | March 2010 | |||||||||
Rig 52 | SCR diesel electric | 2,000 | 4,400 | 25,000 | Texas | Newfield | November 2009 | |||||||||
Rig 53 | SCR diesel electric | �� 2,000 | 4,400 | 25,000 | Texas | Available | ||||||||||
Rig 54 | SCR diesel electric | 2,000 | 4,400 | 25,000 | Texas | Newfield | October 2009 | |||||||||
Rig 59 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Available | ||||||||||
Rig 60 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Devon | April 2011 | Rig is currently stacked at a reduced rate. | ||||||||
Rig 61 | AC electric | 2,000 | 3,200 | 25,000 | Texas | EnCana | August 2009 | |||||||||
Rig 62 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Devon | March 2011 | Rig is currently stacked at a reduced rate. | ||||||||
Rig 63 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Available | ||||||||||
Rig 64 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Available | Rig is currently cold stacked. | |||||||||
Rig 65 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Pioneer | November 2009 | Rig is currently stacked at a reduced rate. | ||||||||
Rig 66 | AC electric | 2,000 | 3,200 | 25,000 | Oklahoma | PetroQuest | December 2009 | |||||||||
Rig 67 | AC electric | 2,000 | 3,200 | 25,000 | Texas | ConocoPhillips | January 2010 | |||||||||
Rig 68 | AC electric | 2,000 | 3,200 | 25,000 | Alaska | Pioneer | March 2010 | Rig is currently stacked at a reduced rate. | ||||||||
Rig 76 | AC electric | 2,000 | 3,200 | 25,000 | Texas | EnCana | April 2011 | |||||||||
Rig 77 | AC electric | 2,000 | 3,200 | 25,000 | Texas | EnCana | March 2010 | |||||||||
Rig 84 | AC electric | 2,000 | 3,200 | 25,000 | Texas | EnCana | June 2011 | |||||||||
Rig 85 | AC electric | 2,000 | 3,200 | 25,000 | Texas | Common Resources | October 2010 | |||||||||
Rig 86 | AC electric | 2,000 | 3,200 | 25,000 | Texas | EnCana | February 2012 | |||||||||
Rig 87 | AC electric | 2,000 | 3,200 | 25,000 | TBD | Common Resources | June 2012 | Rig is expected to begin operations at the beginning of June 2009. | ||||||||
TBD | AC electric | 2,000 | 3,200 | 25,000 | TBD | EnCana | 3 Years | Currently in negotiations with EnCana to substitute existing land rigs for this contract. | ||||||||
TBD | AC electric | 2,000 | 3,200 | 25,000 | TBD | EnCana | 3 Years | Currently in negotiations with EnCana to substitute existing land rigs for this contract. | ||||||||
TBD | AC electric | 2,000 | 3,200 | 25,000 | TBD | EnCana | 3 Years | Currently in negotiations with EnCana to substitute existing land rigs for this contract. | ||||||||
TBD | AC electric | 2,000 | 3,200 | 25,000 | TBD | EnCana | 3 Years | Currently in negotiations with EnCana to substitute existing land rigs for this contract. |
Rigs 9 through 35 were constructed at various dates between 1960 and 1982, utilizing new as well as used equipment, and have since been substantially rebuilt. Rigs 51, 52, 53 and 54 were constructed during 2001-02. Rigs 59 through 66 were completed during 2006, Rigs 67 through 77 during 2007, Rigs 84 and 85 in 2008 and Rig 86 in 2009. All but Rig 29 are equipped with a top-drive drilling system. Day rates range from $16,000 to $26,000. Estimated contract durations reflect either stated drilling periods expected time required for the contracted well or wells. Estimated number of idle days during April 2009 was 306. |
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. |