![]() | ROWAN COMPANIES, INC. OFFSHORE RIG FLEET AND CONTRACT STATUS As of June 25, 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 IV | S116-E | 350 | 35,000 | 2012 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q1 2012. | |||||||||
Joe Douglas | 240-C | 375 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q3 2011. | |||||||||
Rowan EXL III | S116-E | 350 | 35,000 | 2011 | TBD | TBD | TBD | TBD | Rig currently under construction with delivery expected in Q1 2011. | |||||||||
Rowan EXL II | S116-E | 350 | 35,000 | 2010 | Trinidad | BP Trinidad | Low 140s | November 2013 | Rig currently under construction with delivery expected in September 2010, and commencement of operations in October 2010. Day rate reflects average rate over the contract period and includes amortization of contract mobilization/modification revenues. | |||||||||
Rowan EXL I | S116-E | 350 | 35,000 | 2010 | Gulf of Mexico | McMoRan | Mid 70s | August 2010 | ||||||||||
Low 140s | July 2011 | |||||||||||||||||
Ralph Coffman | 240-C | 375 | 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 | Apache | Low 110s | September 2010 | Rig is under contract at the indicated day rate but is waiting on a permit. | |||||||||
Rowan Gorilla VII | 219-C | 400 | 35,000 | 2002 | West Africa | Cabinda | Mid 310s | July 2010 | ||||||||||
North Sea | Apache | Low 180s | February 2012 | Rig is expected to mobilize to the North Sea during early Q3 2010 and commence operations end of Q3 2010. | ||||||||||||||
Rowan Gorilla VI | 219-C | 400 | 35,000 | 2000 | North Sea | BG | High 390s | July 2010 | Day rate includes amortization of contract mobilization/modification revenues. | |||||||||
Low 300s (NOR) | BG extended the contract for another 12 months and has the option of operating the rig in Norway at a day | |||||||||||||||||
Mid 210s (UK) | July 2011 | rate in the low $300s or in the UK at a day rate in the mid $210s. | ||||||||||||||||
Rowan Gorilla V | 219-C | 400 | 35,000 | 1998 | North Sea | Total | Low 160s | May 2011 | Day rate includes estimated amortization of lump-sum fee for modifications. Rig was idle for 4 days during the month of May 2010. | |||||||||
Low 180s | May 2012 | |||||||||||||||||
See comment | May 2013 | Day rate at mutually agreed market rate between low 150s and mid 230s. | ||||||||||||||||
Rowan Gorilla IV | 200-C | 450 | 35,000 | 1986 | Mexico | PEMEX | Low 130s | 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 April 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 | ||||||||||
Rowan-California | 116-C | 300 | 30,000 | 1983 | Middle East | Wintershall | Mid 70s | June 2011 | Rig commenced operations in mid June 2010. Rig was in the shipyard during the month of May 2010 | |||||||||
undergoing upgrades for the Wintershall work. | ||||||||||||||||||
Cecil Provine | 116-C | 300 | 30,000 | 1982 | Gulf of Mexico | Apache | Low 60s | July 2010 | Rig is under contract at the indicated day rate but is waiting on a permit. On June 22, 2010, the Company received a notice of declaration of force majeure from the operator of the Cecil Provine and is evaluating its response to this notice. | |||||||||
Gilbert Rowe | 116-C | 350 | 30,000 | 1981 | Middle East | Maersk | Mid 70s | March 2011 | ||||||||||
Arch Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig is currently in the shipyard for general maintenance and upgrades and was in the shipyard during the month | |||||||||||
of May 2010. | ||||||||||||||||||
Charles Rowan | 116-C | 350 | 30,000 | 1981 | Middle East | Available | Rig is currently in the shipyard for general maintenance and upgrades and was in the shipyard during the month | |||||||||||
of May 2010. | ||||||||||||||||||
Rowan-Paris | 116-C | 350 | 30,000 | 1980 | Middle East | Maersk | Mid 70s | March 2011 | ||||||||||
Rowan-Middletown | 116-C | 350 | 30,000 | 1980 | Middle East | Available | Rig is currently in the shipyard for general maintenance and upgrades and was in the shipyard during the month | |||||||||||
of May 2010. | ||||||||||||||||||
Conventional Jack-up Rigs: | ||||||||||||||||||
Rowan-Juneau | 116 | 250 | 30,000 | 1977 | Gulf of Mexico | Available | Rig was idle during the month of May 2010. | |||||||||||
Rowan-Alaska | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | Available | Rig was idle for 8 days during the month of May 2010. | |||||||||||
Rowan-Louisiana | 84 | 350 | 30,000 | 1975 | Gulf of Mexico | McMoRan | Mid 50s | December 2010 | Rig is under contract at the indicated day rate but is waiting on a permit. |
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 | ![]() |