OFFSHORE RIG FLEET AND CONTRACT STATUS As of March 16, 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. | |||||||||
Joe Douglas | 240-C | 400 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q3 2011. | |||||||||
Rowan EXL #3 | S116-E | 350 | 35,000 | 2010 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q4 2010. | |||||||||
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 is currently under construction with delivery expected in Q2 2010. | |||||||||
Gulf of Mexico | McMoRan | Mid 70s | August 2010 | Rig is estimated to commence operations in May 2010 upon delivery from the shipyard. | ||||||||||||||
Low 140s | June 2011 | |||||||||||||||||
Ralph Coffman | 240-C | 400 | 35,000 | 2009 | Gulf of Mexico | McMoRan | Low 180s | October 2010 | ||||||||||
J.P. Bussell | 225-C | 300 | 35,000 | 2008 | Egypt | Shell | Low 180s | May 2011 | ||||||||||
Rowan-Mississippi | 240-C | 375 | 35,000 | 2008 | Gulf of Mexico | McMoRan | Low 180s | 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 | El Paso | Low 100s | July 2010 | ||||||||||
Apache | Low 110s | October 2010 | ||||||||||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | West Africa | Cabinda | Low 330s | April 2010 | Rig was idle for 2 days during the month of February 2010. | |||||||||
Apache | Low 180s | February 2012 | Rig is expected to mobilize to the North Sea during late Q2 2010 and commence operations during Q3 2010. | |||||||||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | North Sea | BG | High 390s Low 300s (NOR) Low 200s (UK) | July 2010 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 low $200s. Day rates exclude amortization of contract mobilization/modification revenues. | |||||||||
Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Low 180s | May 2010 | ||||||||||
Total | Low 150s | May 2011 | ||||||||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Mexico | PEMEX | High 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 in late January 2010. | ||||||||||||||||||
Rowan Gorilla III | 200-C | 450 | 30,000 | 1984 | Eastern Canada | EnCana | Mid 280s | September 2010 | ||||||||||
Rowan Gorilla II | 200-C | 450 | 30,000 | 1984 | Gulf of Mexico | undisclosed | Low 190s | August 2010 | In connection with the listed Rowan-Louisiana and Rowan-Alaska contracts, the Company agreed to | |||||||||
reduce the term of the Gorilla II contract day-for-day. | ||||||||||||||||||
Rowan-California | 116-C | 300 | 30,000 | 1983 | Middle East | Wintershall | Mid 70s | May 2011 | Rig is contracted for two wells estimated to commence in May 2010. Rig was in the shipyard during the month of February 2010 and is currently undergoing upgrades for Wintershall work. | |||||||||
Cecil Provine | 116-C | 300 | 30,000 | 1982 | Gulf of Mexico | Apache | Low 60s | May 2010 | ||||||||||
Gilbert Rowe | 116-C | 350 | 30,000 | 1981 | Middle East | Maersk | Mid 70s | March 2011 | One-year extension at indicated rate from early March 2010. | |||||||||
Arch Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig was in the shipyard during the month of February 2010 for maintenance/modifications and is expected to remain in the shipyard until late March 2010. | |||||||||||
Charles Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig was in the shipyard during the month of February 2010 for maintenance/modifications and is expected to remain in the shipyard until late March 2010. | |||||||||||
Rowan-Paris | 116-C | 350 | 30,000 | 1980 | Middle East | Maersk | Mid 70s | March 2011 | One-year extension at indicated rate from early March 2010. | |||||||||
Rowan-Middletown | 116-C | 350 | 30,000 | 1980 | Middle East | Available | Rig was in the shipyard during the month of February 2010 for maintenance/modifications and is expected to remain in the shipyard until late March 2010. | |||||||||||
Conventional Jack-up Rigs: | ||||||||||||||||||
Rowan-Juneau | 116 | 250 | 30,000 | 1977 | Gulf of Mexico | Available | Rig was idle during the month of February 2010. | |||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | undisclosed | Low 190s | April 2010 | ||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | undisclosed | Low 190s | March 2010 | ||||||||||
McMoRan | Mid 50s | October 2010 | Rig is estimated to commence operations for one well in April 2010. |
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