![]() | OFFSHORE RIG FLEET AND CONTRACT STATUS As of January 13, 2010 |
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 Q2 2010. | |||||||||
Ralph Coffman | 240-C | 400 | 35,000 | 2009 | Gulf of Mexico | McMoRan | Low 80s Low 180s | March 2010 September 2010 | Amended the contract to reduce the minimum term from two years to one well (esimated to require six months), with a prorated termination fee (plus interest) if two rig years (at low $180s day rate) are not fulfilled (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 | May 2011 | In connection with the Ralph Coffman contract, the Company in June 2009 reduced the Mississippi day rate for the remainder of its original two-year term. In connection with the Coffman amendment (see Ralph Coffman), the Mississippi term was increased by approximately six months. If McMoRan does not fulfill the original two-year commitment for the Coffman through work for the Coffman, Mississippi (beyond the original term) or other rigs (at low $180s day rate), the Company will earn a pro rata portion of the $18 million termination fee (plus interest), payable in installments over the remainder of the original 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 | ||||||||||
Bob Palmer | 224-C | 550 | 35,000 | 2003 | Gulf of Mexico | Mariner El Paso | Low 60s Low 100s | January 2010 May 2010 | ||||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | West Africa | Cabinda | Low 330s | May 2010 | Rig was idle for 10 days during the month of December 2009. | |||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | North Sea | BG | Mid 370s | January 2010 | Rig was idle for 4 days during the month of December 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 | ||||||||||
Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | undisclosed | Low 190s | October 2010 | In connection with the listed Rowan-Louisiana contract, the Company agreed to reduce the term of the Gorilla II contract day-for-day (see Rowan-Louisiana). | |||||||||
Rowan-California | 116-C | 300 | 30,000 | 1983 | Middle East | Available | Rig was in the shipyard during the month of December 2009 for maintenance/modifications and is expected to remain in the shipyard until early January 2010. | |||||||||||
Cecil Provine | 116-C | 300 | 30,000 | 1982 | Gulf of Mexico | Apache | Mid 50s | January 2010 | Rig was idle for 4 days during the month of December 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 December 2009 for maintenance/modifications and is expected to remain in the shipyard until late January 2010. | |||||||||||
Charles Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig was in the shipyard during the month of December 2009 for maintenance/modifications and is expected to remain in the shipyard until early March 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 December 2009 for maintenance/modifications and is expected to remain in the shipyard until the beginning of March 2010. | |||||||||||
Conventional Jack-up Rigs: | ||||||||||||||||||
Rowan-Juneau | 116 | 250 | 30,000 | 1977 | Gulf of Mexico | Available | Rig was idle during the month of December 2009. | |||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Available | Rig was idle during the month of December 2009. | |||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | undisclosed | Low 190s | March 2010 | Rig was idle for 26 days during the month of December 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 |