![]() | ROWAN COMPANIES, INC. OFFSHORE RIG FLEET AND CONTRACT STATUS As of December 23, 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 | 2012 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q1 2012. | |||||||||
Rowan EXL #3 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q4 2010. | |||||||||
Joe Douglas | 240-C | 400 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q3 2011. | |||||||||
Rowan EXL #2 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q3 2010. | |||||||||
Rowan EXL #1 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in early Q2 2010. | |||||||||
Ralph Coffman | 240-C | 400 | 35,000 | 2009 | Gulf of Mexico | McMoRan | Low 180s | January 2012 | Signed two-year contract in June 2009 (see Rowan Mississippi); rig was delivered in late December 2009 and is expected to commence operations in January 2010. | |||||||||
J.P. Bussell | 225-C | 300 | 35,000 | 2008 | Egypt | Shell | Low 180s | May 2011 | Rig commenced operations with Shell at the end of October 2009. | |||||||||
Rowan-Mississippi | 240-C | 375 | 35,000 | 2008 | Gulf of Mexico | McMoRan | Low 180s | November 2010 | In connection with the Ralph Coffman contract, the Company entered into an amendment in June 2009 to reduce the Mississippi day rate for the remainder of the contract term. The Coffman contract contains an early termination option exercisable on or before December 31, 2009. Should McMoRan terminate the Coffman contract, the Company will earn an $18 million fee, payable in installments over the remainder of the Mississippi contract term. | |||||||||
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 | Rig was idle for 3 days during the month of November 2009. | |||||||||
Bob Palmer | 224-C | 550 | 35,000 | 2003 | Gulf of Mexico | Mariner | Low 60s | December 2009 | ||||||||||
El Paso | Low 100s | May 2010 | ||||||||||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | West Africa | Cabinda | Low 330s | May 2010 | ||||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | North Sea | BG | Mid 370s | January 2010 | Rig was idle for 7 days during the month of November 2009. | |||||||||
Mid 380s | July 2010 | |||||||||||||||||
Low 300s Mid 210s | July 2011 | BG extended the contract for another 12 months and has the option of operating the rig in Norway at a day rate in the low $300s or in the UK at a day rate in the mid $210s. Day rates exclude amortization of contract mobilization/modification reveneus. | ||||||||||||||||
Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Low 180s | July 2010 | ||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Mexico | PEMEX | Low 120s | July 2011 | The day rate reprices every three months based on an index of jack-up rates. The day rate reflects rig's repricing at the end of October 2009. | |||||||||
Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Eastern Canada | EnCana | Mid 280s | June 2010 | Rig was idle for 8 days during the month of November 2009. | |||||||||
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 | Available | Rig was in the shipyard during the month of November 2009 for maintenance/modifications and is expected to remain in the shipyard until the end of December 2009. | |||||||||||
Cecil Provine | 116-C | 300 | 30,000 | 1982 | Gulf of Mexico | Apache | Mid 50s | January 2010 | Rig was idle during the month of November 2009. | |||||||||
Gilbert Rowe | 116-C | 350 | 30,000 | 1981 | Middle East | Maersk | Low 100s | March 2010 | ||||||||||
Arch Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig was in the shipyard during the month of November 2009 for maintenance/modifications and is expected to remain in the shipyard until mid January 2010. | |||||||||||
Charles Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig was in the shipyard during the month of November 2009 for maintenance/modifications and is expected to remain in the shipyard until mid January 2010. | |||||||||||
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 | Available | Rig was in the shipyard during the month of November 2009 for maintenance/modifications and is expected to remain in the shipyard until mid January 2010. | |||||||||||
Conventional Jack-up Rigs: | ||||||||||||||||||
Rowan-Juneau | 116 | 250 | 30,000 | 1977 | Gulf of Mexico | Available | Rig was idle during the month of November 2009. | |||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Available | Rig was idle during the month of November 2009. | |||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Available |
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