Exhibit 99.1
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
RECENT COMMITMENTS — (See Body of Report For Contract Details/Date Changes and Other Information)
No new fixtures
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Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | Dayrate ($000s) | | Start Date | | Est. End Date |
Domestic Deepwater Semisubmersibles (8) |
Ocean Quest | | 3,500’ | | GOM | | Current Contract | | Noble | | two-year term + unpricedoption | | upper 350’s | | mid June 2007 | | mid June 2009 |
| | | | GOM/Brazil | | Prep, mobe & acceptance test for OGX | | OGX | | | | | 0 | | | mid June 2009 | | early Oct. 2009 |
| | | | Brazil | | Future Contract | | OGX | | two-year term + unpricedoption | | low 420’s | | early Oct. 2009 | | early Oct. 2011 |
Ocean Star | | 5,500’ | | GOM | | Current Contract | | Anadarko | | term extension | | upper 410’s | | late Nov. 2007 | | late Nov. 2008 |
| | | | GOM | | Future Contract | | LOI | | Part 1 — 18 month-term | | mid 460’s | | late Nov. 2008 | | late May 2009 |
| | | | GOM | | Future Contract | | LOI | | Remainder term. | | low 520’s | | late May 2009 | | late May 2010 |
Ocean America | | 5,500’ | | GOM | | Current Contract | | Mariner | | Part 1 — 18-month term | | low 470’s | | mid March 2008 | | late Oct. 2008 |
| | | | GOM | | Future Contract | | LOI | | Remainder term. | | low 520’s | | late Oct. 2008 | | early Jan. 2009 interrupt term |
| | | | GOM | | Special Survey & Maintenance | | DODI | | | | | 0 | | | early Jan. 2009 | | late March 2009 |
| | | | GOM | | Future Contract | | LOI | | Cont. remainder term | | low 520’s | | late March 2009 | | mid July 2010 |
Ocean Valiant | | 5,500’ | | GOM | | Special Survey & Maintenance | | DODI | | | | | 0 | | | early Aug. 2008 | | late Nov. 2008 resume contract |
| | | | GOM | | Current Contract | | Anadarko | | resume one-year term extension | | upper 420’s | | late Nov. 2008 | | early July 2009 |
Ocean Victory | | 5,500’ | | GOM | | Current Contract | | Callon | | two wells | | low 500’s | | mid Aug. 2008 | | early March2009 |
| | | | GOM | | Future Contract (swap from old Voyagercontract in low 300’s) | | Newfield | | one well | | low 300’s | | early March2009 | | early May2009 |
| | | | GOM | | Future Contract | | Newfield | | one well extension | | low 500’s | | early May2009 | | midJune 2009 |
| | | | GOM | | Future Contract | | ATP | | one-year term, minimum | | low 540’s | | midJune 2009 | | midJune 2010 |
Ocean Baroness | | 7,000’ | | GOM | | Current Contract | | Hess | | term extension + unpricedoption | | mid 360’s | | late Nov. 2007 | | mid April 2010 |
Ocean Confidence | | 10,000’ | | GOM | | Current Contract | | Murphy | | four-year term + unpricedoption | | low 500’s | | late Feb. 2008 | | late March 2012 |
| | | | GOM | | Contract to be interrupted for thruster maintenance | | DODI | | | | | 0 | | | early Oct. 2008 | | mid Oct. 2008 resume contract |
Ocean Endeavor | | 10000’ | | GOM | | Current Contract | | Devon | | four-year term + unpriced option | | mid 260’s | | early July 2007 | | late June 2011 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
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| | | | | | | | | | | | Dayrate | | | | Est. End |
Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | ($000s) | | Start Date | | Date |
Domestic 2nd and 3rd Generation Semisubmersibles (2) |
Ocean Ambassador | | 1,100’ | | GOM | | Special Survey & Maintenance | | DODI | | | | | 0 | | | early Aug. 2008 | | late Oct. 2008 |
| | | | GOM | | Future Contract | | Taylor | | seven-month term | | mid 280’s | | late Oct. 2008 | | early June 2009 |
| | | | GOM/Brazil | | Prep, mobe & acceptance test for OGX | | OGX | | | | | 0 | | | early June 2009 | | mid Sept. 2009 |
| | | | Brazil | | Future Contract | | OGX | | three-year term + unpriced option | | low 260’s | | mid Sept. 2009 | | mid Sept. 2012 |
Ocean Saratoga | | 2,200’ | | GOM | | Current Contract | | Walter | | one well | | mid 280’s | | late July 2008 | | early Oct. 2008 |
| | | | GOM | | Future Contract | | Walter | | four wells | | mid 280’s | | lateOct. 2008 | | lateFeb. 2009 |
Domestic Jack-ups (7) | | | | | | | | | | | | | | | | | | |
Ocean Crusader | | 200’ MC | | GOM | | Current Contract | | Apache | | one well | | mid 60’s | | early Sept. 2008 | | early Oct. 2008 |
Ocean Drake | | 200’ MC | | GOM | | Special Survey & Maintenance | | DODI | | | | | 0 | | | early Aug. 2008 | | early Oct. 2008 |
| | | | GOM | | Future Contract | | Tarpon | | one well | | mid 60’s | | early Oct. 2008 | | mid Nov. 2008 |
| | | | GOM | | Future Contract | | Tarpon | | two wells | | mid 70’s | | mid Nov. 2008 | | mid Jan. 2009 |
Ocean Champion | | 250’ MS | | GOM | | Current Contract | | Stone | | Assignment from Bois d’Arc | | mid 60’s | | early Sept. 2008 | | early Oct. 2008 |
Ocean Spartan | | 300’ IC | | GOM | | Current Contract | | Samson | | four wells | | mid 80’s | | mid June 2008 | | early Oct. 2008 |
| | | | GOM | | Future Contract | | Samson | | two-well extension | | low 100’s | | early Oct. 2008 | | lateDec. 2008 |
Ocean Summit | | 300’ IC | | GOM | | Current Contract | | Energy Partners | | one well extension + unpricedoption | | mid 80’s | | late May 2008 | | mid Sept. 2008 |
| | | | GOM | | Future Contract | | Energy Partners | | five-wells + unpricedoption | | low 100’s | | mid Sept. 2008 | | midNov. 2008 |
Ocean Titan | | 350’ IC | | GOM | | Current Contract | | Apache | | second of three wells | | high 100’s | | lateSept. 2008 | | lateOct. 2008 |
| | | | GOM | | Future Contract | | Apache | | third of three wells | | low 110’s | | lateOct. 2008 | | early Dec. 2008 |
| | | | GOM | | Future Contract | | Apache | | four-month extension + unpricedoption | | low 130’s | | early Dec. 2008 | | early April2009 |
Ocean Tower | | 350’ IC | | GOM | | Current Contract | | Chevron | | Rig damaged by Hurricane Ike, contract under review with customer | | | | | | to be determined | | to be determined |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
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| | | | | | | | | | | | Dayrate | | | | Est. End |
Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | ($000s) | | Start Date | | Date |
International Semisubmersibles (19) | |
MEXICO | | | | | | | | | | | | | | | | | | |
Ocean New Era | | 1,500’ | | GOM | | Current Contract | | PEMEX | | 2 1/2 year term | | mid 260’s | | late Oct. 2007 | | mid Feb. 2010 |
Ocean Voyager | | 3,000’ | | GOM | | Current Contract | | PEMEX | | 2 1/2 year term | | mid 330’s | | early Nov. 2007 | | late Feb. 2010 |
NORTH SEA/MEDITERRANEAN | |
Ocean Nomad | | 1,200’ | | North Sea | | Contract interrupted for Special Survey & Maintenance | | DODI | | | | | 0 | | | mid Sept. 2008 | | mid Nov. 2008 resume contract |
| | | | North Sea | | Current Contract | | Talisman | | resume two-year term extension | | mid 330’s | | midNov. 2008 | | late Sept. 2010 |
Ocean Guardian | | 1,500’ | | North Sea | | Current Contract | | Oilexco | | remainder two-year term | | low 350’s | | early Sept. 2008 | | mid July 2009 |
| | | | North Sea | | Future Contract | | Oilexco | | two-year term extension | | mid 380’s | | midJuly. 2009 | | earlySept. 2011 |
Ocean Princess | | 1,500’ | | North Sea | | Current Contract | | Talisman | | two-year term extension | | upper 330’s | | mid Feb. 2008 | | late Oct. 2008 |
| | | | North Sea | | Contract to be interrupted for Special Survey & Maintenance | | DODI | | | | | 0 | | | late Oct. 2008 | | late Dec. 2008 resume contract |
| | | | North Sea | | Current Contract | | Talisman | | resume two-year term extension | | upper 330’s | | late Dec. 2008 | | mid April 2010 |
Ocean Vanguard | | 1,500’ | | North Sea | | Current Contract | | Statoil | | two-year term extension + unpricedoption | | low 400’s | | late April 2008 | | mid April 2010 |
Ocean Lexington | | 2,200’ | | Egypt | | Current Contract | | BP | | 36-month term | | mid 260’s | | late Nov. 2006 | | mid Aug. 2009 |
| | | | Egypt/Brazil | | Prep, mobe & acceptance test for OGX | | OGX | | | | | 0 | | | mid Aug. 2009 | | late Jan. 2010 |
| | | | Brazil | | Future Contract | | OGX | | three-year term + unpricedoption | | mid 330’s | | late Jan. 2010 | | late Jan. 2013 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
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| | | | | | | | | | | | Dayrate | | | | Est. End |
Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | ($000s) | | Start Date | | Date |
AUSTRALASIA | | | | | | | | | | | | | | | | | | |
Ocean Bounty | | 1,500’ | | Australia | | Current Contract | | Woodside | | continue one-year term | | low 350’s | | early Sept. 2008 | | late March 2009 |
| | | | Australia | | Re-engine and upgrade | | DODI | | | | | 0 | | | late March 2009 | | to be determined followed by two-year term |
| | | | Australia | | Future Contract | | Woodside | | two-year term + unpricedoption | | mid 420’s | | to be determined | | to be determined |
Ocean Patriot | | 1,500’ | | Australia | | Current Contract | | Santos | | one-year term + unpricedoption | | upper 370’s | | mid May 2008 | | late Dec. 2008 |
| | | | Australia | | Future Contract | | Apache | | two-year term + unpricedoption | | between 380-420 | | late Dec. 2008 | | late Dec. 2010 |
Ocean Epoch | | 1,640’ | | Australia | | Current Contract | | Apache | | one-year term | | mid 350’s | | early March 2008 | | early March 2009 |
| | | | Australia | | Future Contract | | BHPB | | 550-day term + unpricedoptions | | low 350’s | | early March 2009 | | early Sept. 2010 |
Ocean General | | 2,400’ | | Malaysia | | Special Survey & Maintenance | | DODI | | | | | 0 | | | late July 2008 | | late Sept. 2008 |
| | | | Vietnam | | Future Contract | | PVEP | | Approx. two-year term + unpricedoptions | | low 280’s | | late Sept. 2008 | | late Sept. 2010 |
Ocean Rover | | 7,000’ | | Malaysia | | Intermediate Survey & Maintenance | | DODI | | | | | 0 | | | late July 2008 | | late Sept. 2008 resume contract |
| | | | Malaysia | | Current Contract | | Resume Murphy contract | | balance previously declared option wells | | high 240’s | | lateSept. 2008 | | early Jan. 2009 |
| | | | Malaysia | | Future Contract | | Newfield | | one well | | mid 450’s | | early Jan. 2009 | | mid Feb. 2009 |
| | | | Malaysia | | Future Contract | | Murphy | | two-year term extension | | mid 450’s | | mid Feb. 2009 | | mid Feb. 2011 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
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| | | | | | | | | | | | Dayrate | | | | Est. End |
Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | ($000s) | | Start Date | | Date |
BRAZIL |
Ocean Whittington | | 1,500’ | | Brazil | | Current Contract | | Petrobras | | five-year term plus potential 15% bonus | | mid 220’s | | late Aug. 2007 | | late Aug. 2012 |
| | | | Brazil | | Contract to be interrupted to resume and complete contract upgrade work | | DODI | | | | | 0 | | | mid Oct. 2008 | | late Nov. 2008 resume contract |
| | | | Brazil | | Current Contract | | Petrobras | | resume five-year term plus potential 15% bonus | | mid 220’s | | late Nov. 2008 | | late Aug. 2012 |
Ocean Concord | | 2,200’ | | Brazil | | Current Contract | | Petrobras | | five-year term plus potential 15% bonus | | low 230’s | | mid Jan. 2008 | | mid Jan. 2013 |
Ocean Yorktown | | 2,850’ | | Brazil | | Current Contract | | Petrobras | | five-year term plus potential 15% bonus | | mid 230’s | | mid Aug. 2008 | | mid Sept. 2013 |
Ocean Yatzy | | 3,300’ | | Brazil | | Current Contract | | Petrobras | | five-year term extension plus potential 17% bonus | | mid 110’s | | early Oct. 2005 | | early Oct. 2009 |
| | | | Brazil | | Future Contract | | Petrobras | | five-year term plus potential 10% bonus | | mid 240’s | | early Oct. 2009 | | early Oct. 2014 |
Ocean Winner | | 3,500’ | | Brazil | | Current Contract | | Petrobras | | four-year term extension plus potential 5% bonus | | low 110’s | | mid March 2006 | | mid March 2010 |
| | | | Brazil | | Future Contract | | Petrobras | | five-year term extension plus potential 10% bonus | | low 270’s | | mid March 2010 | | mid March 2015 |
Ocean Worker | | 3,500’ | | Brazil | | Current | | DODI | | prep., plus acceptance testing | | | 0 | | | late July 2008 | | early Dec. 2008 |
| | | | Brazil | | Future Contract | | Petrobras | | six-year term plus potential 10% bonus | | low 270’s | | early Dec. 2008 | | early Dec. 2014 |
Ocean Alliance | | 5,000’ | | Brazil | | Current Contract | | Petrobras | | one-well extension retroactive to late March 2008 | | mid 520’s | | late March 2008 | | early Oct. 2008 resume contract |
| | | | Brazil | | Resume Contract | | Petrobras | | resume four-year extension plus 20% potential bonus | | mid 150’s | | early Oct. 2008 | | late Nov. 2009 |
| | | | Brazil | | Future Contract | | Petrobras | | six-year term extension plus potential 15% bonus | | low 340’s | | late Nov. 2009 | | late Nov. 2015 |
International Drillship (1) |
Ocean Clipper | | 7,000’ | | Brazil | | Current Contract | | Petrobras | | five-year extension plus potential 5% bonus | | low 180’s | | mid Dec. 2005 | | mid Dec. 2010 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
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| | | | | | | | | | | | Dayrate | | | | Est. End |
Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | ($000s) | | Start Date | | Date |
International Jack-ups (8) | |
Ocean Columbia | | 250’ IC | | Mexico | | Current Contract | | Pemex | | 1 1/2-year term | | mid 120’s | | late Jan. 2008 | | mid June 2009 |
Ocean Nugget | | 300’ IC | | Mexico | | Current Contract | | Pemex | | term contract | | upper 160’s | | early Oct. 2006 | | late March 2009 |
Ocean King | | 300’ IC | | Croatia | | Current Contract | | CROSCO | | two-year bareboat charter | | upper 100’s | | mid Nov. 2007 | | early Nov. 2009 |
Ocean Sovereign | | 300’ IC | | Indonesia | | Current Contract | | Kodeco | | extension up to survey | | upper 130’s | | early Aug. 2008 | | mid Nov. 2008 |
| | | | Indonesia | | Intermediate Survey | | DODI | | | | | 0 | | | mid Nov. 2008 | | late Dec. 2008 |
| | | | Indonesia | | Future Contract | | Kodeco | | 15-month extension + unpricedoption | | mid 140’s | | late Dec. 2008 | | late March 2010 |
Ocean Heritage | | 300’ IC | | Gulf of Suez | | Current Contract | | IPR | | seven-month term | | mid 110’s | | mid July 2008 | | mid Feb. 2009 |
Ocean Spur | | 300’ IC | | Egypt | | Current Contract | | WEPCO | | well work on platform | | low 140’s | | mid Aug. 2008 | | late Nov. 2008 |
| | | | Egypt | | Future Contract | | WEPCO | | one-year term | | low 140’s | | late Nov. 2008 | | late Nov. 2009 |
Ocean Shield | | 350’ IC | | Malaysia | | Current Contract | | Newfield | | six-month term | | mid 170’s | | late May 2008 | | late Oct. 2008 |
| | | | Malaysia | | Future Contract | | ENI | | mobe to Australia followed by 12 month term | | | 0 | | | late Oct. 2008 | | mid Nov. 2008 |
| | | | Australia | | Future Contract | | ENI | | 12 month term | | mid 260’s | | mid Nov. 2008 | | late Oct. 2009 |
Ocean Scepter | | 350’ IC | | Argentina | | Current | | DODI | | prep for contract | | | 0 | | | early Sept. 2008 | | late Sept. 2008 |
| | | | Argentina | | Future Contract | | Enap Sipetrol/YPF | | 300-day term contract + unpricedoption | | high 190’s | | late Sept. 2008 | | late July 2009 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
September 22, 2008
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| | | | | | | | | | | | | | Dayrate | | | | Est. End |
Rig Name | | WD | | Location | | Status | | Operator | | Current Term | | ($000s) | | Start Date | | Date |
Upgrade (1) |
Ocean Monarch | | | 10,000 | | | Singapore Shipyard | | Current | | DODI | | upgrade to 5th generation rig | | | 0 | | | | | late Sept. 2008 |
| | | | | | Singapore | | Future | | DODI | | commissioning | | | 0 | | | late Sept. 2008 | | mid Dec. 2008 |
| | | | | | mobe GOM | | Future | | DODI | | mobe to GOM and prep for contract | | | 0 | | | mid Dec. 2008 | | mid March 2009 |
| | | | | | GOM | | Future Contract | | Anadarko | | four-year term + unpricedoption | | high 420’s | | mid March 2009 | | mid March 2013 |
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NOTES: | | Generally, rig utilization rates approach 95-98% during contracted periods; however, utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, weather conditions and other factors. An LOI is subject to customary conditions, including the execution of a definitive agreement and as such may not result in a binding contract. Options are un-priced and any extension of contract is subject to mutually agreeable terms & conditions unless otherwise indicated. Indexed contracts generally reprice every 30 days. Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract. GOM = Gulf of Mexico. |
Cost/Revenue Footnote: Contract Drilling Expenses applies to contract drilling expenses ONLY anddoes not include Reimbursable Expenses
On rig utilization, assume 95% for DP units, 96% for conventionally moored rigs, and 98% for jack-ups.
Forward-Looking Statements: The rig status report may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain or be identified by the words “expect,” “intend,” “plan,” “predict,” “anticipate,” “estimate,” “believe,” “should,” “could,” “may,” “might,” “will,” “will be,” “will continue,” “will likely result,” “project,” “budget,” “forecast,” and similar expressions. Statements by the Company in the rig status report that contain forward-looking statements include, but are not limited to, statements regarding the current term, future dayrates, start and end dates and comments concerning future contracts and availability, letters of intent, utilization, surveys, downtime and other aspects of the Company’s drilling rigs, as well as statements concerning rigs being upgraded or to be upgraded and rigs under construction. Such statements are inherently subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or projected. A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, operating risks, casualty losses, industry fleet capacity, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations, customer preferences and various other matters, many of which are beyond the Company’s control. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the rig status report, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.