Exhibit 99.1
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
RECENT COMMITMENTS — (See Body of Report For Contract Details/Date Changes and Other Information)
Quarterly Downtime Listed on Page 6
Dayrate | ||||||||||||||||||||||||||||||||
Rig Name | WD | Location | Status | Operator | Current Term | ($000s) | Start Date | Est. End Date | ||||||||||||||||||||||||
Domestic Deepwater Semisubmersibles (8) | ||||||||||||||||||||||||||||||||
Ocean Star | 5,500’ | GOM | Current Contract | Newfield | one well extension | low 500’s | late Feb. 2009 | late April2009 | ||||||||||||||||||||||||
Ocean America | 5,500’ | GOM | Special Survey & Maintenance | DODI | 0 | late Jan. 2009 | mid May 2009 | |||||||||||||||||||||||||
GOM | Future Contract | Mariner | 6-month term | low 550’s | mid May 2009 | late Jan. 2010 | ||||||||||||||||||||||||||
Ocean Valiant | 5,500’ | GOM | Current Contract | Anadarko | one-year term extension | upper 420’s | mid Dec. 2008 | lateJune 2009 | ||||||||||||||||||||||||
GOM/Angola | Prep, mobe & acceptance test for Total | DODI | lateJune 2009 | lateSept. 2009 | ||||||||||||||||||||||||||||
Angola | Future Contract | Total | two-year term +priced options | low 620’s | lateSept. 2009 | lateSept. 2011 | ||||||||||||||||||||||||||
Ocean Victory | 6,000’ | GOM | Current Contract | Deep Gulf | one well | mid 360’s | mid April2009 | early May2009 | ||||||||||||||||||||||||
GOM | Future Contract | ATP | one-year term, minimum | low 540’s | early May2009 | early May2010 | ||||||||||||||||||||||||||
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 510’s | late Feb. 2008 | late March 2012 | ||||||||||||||||||||||||
Ocean Monarch | 10,000’ | GOM | Current | Plains | one well assignment | low 440’s | mid March 2009 | late May 2009 | ||||||||||||||||||||||||
GOM | Future Contract | Anadarko | four-year term + unpricedoption | low 440’s | late May2009 | mid March 2013 | ||||||||||||||||||||||||||
Ocean Endeavor | 10,000’ | GOM | Current Contract | Devon | four-year term + unpricedoption | mid 290’s | early July 2007 | late June 2011 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
Dayrate | ||||||||||||||||||||||||||||||||
Rig Name | WD | Location | Status | Operator | Current Term | ($000s) | Start Date | Est. End Date | ||||||||||||||||||||||||
Domestic 2nd and 3rd Generation Semisubmersibles (2) | ||||||||||||||||||||||||||||||||
Ocean Ambassador | 1,100’ | GOM | Current Contract | Taylor | seven-month term | mid 280’s | late Dec. 2008 | early June2009 | ||||||||||||||||||||||||
GOM/Brazil | Prep, mobe & acceptance test for OGX | OGX | 0 | early June2009 | mid Sept. 2009 | |||||||||||||||||||||||||||
Brazil | Future Contract | OGX | three-year term + unpricedoption | low 260’s | mid Sept. 2009 | mid Sept. 2012 | ||||||||||||||||||||||||||
Ocean Saratoga | 2,200’ | GOM | Current Contract | Walter | five wells | mid 280’s | early Dec. 2008 | lateMay 2009 | ||||||||||||||||||||||||
GOM | Future Contract | Taylor | 410-day term + unpricedoption | mid 280’s | lateMay 2009 | mid July 2010 | ||||||||||||||||||||||||||
Domestic Jack-ups (6) | ||||||||||||||||||||||||||||||||
Ocean Crusader | 200’ MC | GOM | Actively Marketing | DODI | 0 | |||||||||||||||||||||||||||
Ocean Drake | 200’ MC | GOM | Actively Marketing | DODI | 0 | |||||||||||||||||||||||||||
Ocean Champion | 250’ MS | GOM | Actively Marketing | DODI | 0 | |||||||||||||||||||||||||||
Ocean Spartan | 300’ IC | GOM | Actively Marketing | DODI | 0 | |||||||||||||||||||||||||||
Ocean Summit | 300’ IC | GOM | Prep, mobe and acceptance test for Pemex | DODI | 0 | late Feb. 2009 | late July 2009 | |||||||||||||||||||||||||
Mexico | Future Contract | Pemex | 476 day term | mid 130’s | late July 2009 | mid Nov. 2010 | ||||||||||||||||||||||||||
Ocean Titan | 350’ IC | GOM | Current Contract | Apache | resume four-month extension | low 130’s | midApril 2009 | early July2009 | ||||||||||||||||||||||||
Ocean Tower | 350’ IC | GOM | SOLD Pending close | DODI |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
Dayrate | ||||||||||||||||||||||||||||||||
Rig Name | WD | Location | Status | Operator | Current Term | ($000s) | Start Date | Est. End Date | ||||||||||||||||||||||||
International Semisubmersibles (20) | ||||||||||||||||||||||||||||||||
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 | 3,200’ | 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 | Current Contract | Talisman | resume two-year term extension | upper 330’s | late Oct. 2008 | late Sept. 2010 | ||||||||||||||||||||||||
Ocean Guardian | 1,500’ | North Sea | Actively Marketing | DODI | 0 | |||||||||||||||||||||||||||
Ocean Princess | 1,500’ | 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 | mid 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 | ||||||||||||||||||||||||||
AUSTRALASIA | ||||||||||||||||||||||||||||||||
Ocean Bounty | 1,500’ | Australia | Current Contract | Woodside | 60 days | mid 380’s | early April 2009 | early June 2009 | ||||||||||||||||||||||||
Australia | Re-engine and upgrade | DODI | 0 | early June 2009 | early June 2010 | |||||||||||||||||||||||||||
Australia | Future Contract | Woodside | two-year term | mid 420’s | early June2010 | early June2012 | ||||||||||||||||||||||||||
Ocean Patriot | 1,500’ | Australia | Current Contract | Apache | two-year term + unpricedoption | between 380-420 | late Jan. 2009 | late Jan. 2011 | ||||||||||||||||||||||||
Ocean Epoch | 3,000’ | Australia | Current Contract | BHPB | 550-day term + unpricedoptions | low 350’s | late Feb. 2009 | late Aug. 2010 | ||||||||||||||||||||||||
Ocean General | 3,000’ | Vietnam | Current Contract | PVEP | Approx. two-year term + unpricedoptions | low 280’s | mid Oct. 2008 | late Nov. 2010 | ||||||||||||||||||||||||
Ocean Rover | 8,000’ | Malaysia | Future Contract | Murphy | two-year term extension | low 450’s | late Feb. 2009 | late Feb. 2011 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
Dayrate | ||||||||||||||||||||||||||||||||
Rig Name | WD | Location | Status | Operator | Current Term | ($000s) | Start Date | Est. End Date | ||||||||||||||||||||||||
BRAZIL | ||||||||||||||||||||||||||||||||
Ocean Whittington | 1,500’ | Brazil | Current Contract | Petrobras | five-year term plus potential 15% bonus | mid 220’s | late Jan. 2009 | late Aug. 2012 | ||||||||||||||||||||||||
Ocean Concord | 2,200’ | Brazil | Current Contract | Petrobras | five-year term plus potential 15% bonus | low 230’s | early Jan. 2008 | early Jan. 2013 | ||||||||||||||||||||||||
Ocean Yorktown | 2,200’ | Brazil | Current Contract | Petrobras | five-year term plus potential 15% bonus | mid 230’s | mid Aug. 2008 | mid Aug. 2013 | ||||||||||||||||||||||||
Ocean Yatzy | 3,300’ | Brazil | Current Contract | Petrobras | four-year term plus potential 17% bonus | mid 110’s | early Oct. 2005 | early Oct. 2009 | ||||||||||||||||||||||||
Brazil | Contract interrupted for 5-year survey | DODI | 0 | early July 2009 | mid Aug. 2009 | |||||||||||||||||||||||||||
Brazil | Future Contract | Petrobras | five-year term plus potential 10% bonus | mid 240’s | early Oct. 2009 | early Oct. 2014 | ||||||||||||||||||||||||||
Ocean Quest | 4,000’ | Brazil | Acceptance test for ENI Brasil/OGX | ENI/OGX | 0 | early May 2009 | ||||||||||||||||||||||||||
Brazil | Future Contract | ENI Brasil | 150 day assignment from Noble | mid 380’s | early May 2009 | late Sept. 2009 | ||||||||||||||||||||||||||
Brazil | Future Contract | OGX | two-year term + unpricedoption | low 420’s | late Sept. 2009 | late Sept. 2011 | ||||||||||||||||||||||||||
Ocean Winner | 4,000’ | Brazil | Current Contract | Petrobras | four-year term 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 | 4,000’ | Brazil | Future Contract | Petrobras | six-year term plus potential 10% bonus | low 270’s | late Feb. 2009 | late Feb. 2015 | ||||||||||||||||||||||||
Ocean Alliance | 5,000’ | Brazil | Current Contract | Petrobras | resume four-year term plus 20% potential bonus | mid 150’s | early Jan. 2009 | mid June 2010 | ||||||||||||||||||||||||
Brazil | Future Contract | Petrobras | six-year term extension plus potential 15% bonus | low 340’s | mid June 2010 | mid June 2016 | ||||||||||||||||||||||||||
International Drillship (1) | ||||||||||||||||||||||||||||||||
Ocean Clipper | 7,500’ | Brazil | Current Contract | Petrobras | five-year term plus potential 5% bonus | low 180’s | mid Dec. 2005 | mid Dec. 2010 |
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
Dayrate | ||||||||||||||||||||||||||||||||
Rig Name | WD | Location | Status | Operator | Current Term | ($000s) | Start Date | Est. End 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 | ||||||||||||||||||||||||
Mexico | Maintenance | DODI | 0 | mid June 2009 | early July 2009 | |||||||||||||||||||||||||||
Ocean Nugget | 300’ IC | Mexico | Current Contract | Pemex | 849 day term | mid 130’s | early April 2009 | early May2009 | ||||||||||||||||||||||||
Mexico | Intermediate Survey | DODI | 0 | early May 2009 | mid May 2009 | |||||||||||||||||||||||||||
Mexico | Current Contract | Pemex | resume 849 day term | mid 130’s | midMay2009 | lateJuly2011 | ||||||||||||||||||||||||||
Ocean King | 300’ IC | Croatia | Current Contract | CROSCO | two-year bareboat charter | upper 100’s | mid Nov. 2007 | early Nov. 2009 | ||||||||||||||||||||||||
Croatia | Intermediate Survey | DODI | 0 | early Nov. 2009 | mid Nov. 2009 | |||||||||||||||||||||||||||
Ocean Sovereign | 300’ IC | Indonesia | Current Contract | Kodeco | resume 15-month term + unpricedoption | mid 140’s | early March 2009 | late April 2010 | ||||||||||||||||||||||||
Ocean Heritage | 300’ IC | Gulf of Suez | Actively Marketing | DODI | 0 | |||||||||||||||||||||||||||
Ocean Spur | 300’ IC | Egypt | Current Contract | WEPCO | one-year term | low 140’s | mid Aug. 2008 | late Aug. 2009 | ||||||||||||||||||||||||
Ocean Shield | 350’ IC | Australia | Current Contract | ENI | term | mid 260’s | early Jan. 2009 | early Jan. 2010 | ||||||||||||||||||||||||
Ocean Scepter | 350’ IC | Argentina | Current Contract | Enap Sipetrol/YPF | 300-day term contract + unpricedoption | high 190’s | late Sept. 2008 | late July 2009 |
NOTES: | Rig 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. Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract. GOM = Gulf of Mexico. |
On rig utilization, assume 95% for DP units, 96% for conventionally moored rigs, and 98% for jack-ups.
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
EXPECTED 2009 DOWNTIME LONGER THAN 14 DAYS (Subject to Change)
# Days | ||||||||||||||||||||||
Rig | Act. Q1 | Q2 | Q3 | Q4 | Total | Comments | ||||||||||||||||
Shipyard — 5-Year Surveys & Maintenance | ||||||||||||||||||||||
America | 62 | 42 | 104 | 5-year survey and maintenance | ||||||||||||||||||
Champion | 60 | 60 | 5-year survey and maintenance | |||||||||||||||||||
Titan | 28 | 14 | 42 | 5-year survey and maintenance | ||||||||||||||||||
Yatzy | 43 | 43 | 5-year survey and maintenance | |||||||||||||||||||
Concord | 64 | 64 | complete 5-year survey and contract upgrades | |||||||||||||||||||
Princess | 12 | 12 | complete 5-year survey and maintenance | |||||||||||||||||||
Total 5-year Surveys | 166 | 56 | 103 | 0 | 325 | |||||||||||||||||
Contract Preparation | ||||||||||||||||||||||
Ambassador | 30 | 92 | 5 | 127 | Contract prep, mobe, acceptance test for Brazil | |||||||||||||||||
Lexington | 45 | 92 | 137 | Contract prep, mobe, acceptance test for Brazil | ||||||||||||||||||
Quest | 39 | 37 | 76 | Contract prep, mobe, acceptance test for Brazil | ||||||||||||||||||
Worker | 55 | 55 | Complete contract prep, accept. test for Brazil | |||||||||||||||||||
Whittington | 23 | 23 | Complete contract upgrade work for Brazil | |||||||||||||||||||
Valiant | 5 | 86 | 91 | Contract prep, mobe, accept. test for West Africa | ||||||||||||||||||
Monarch | 73 | 73 | Complete mobe, commissioning for GOM job | |||||||||||||||||||
Summit | 84 | 91 | 31 | 206 | Contract prep, maint., mobe for Mexico | |||||||||||||||||
Total Contract Prep | 274 | 163 | 254 | 97 | 788 | |||||||||||||||||
Other Downtime | ||||||||||||||||||||||
Bounty | 36 | 92 | 92 | 220 | Repower, upgrade water depth | |||||||||||||||||
Shield | 24 | 24 | Mobe to Australia | |||||||||||||||||||
Confidence | 20 | 20 | Thruster change out | |||||||||||||||||||
Columbia | 15 | 15 | Maintenance | |||||||||||||||||||
Nugget | 15 | 15 | UWILD | |||||||||||||||||||
Heritage | 15 | 15 | UWILD | |||||||||||||||||||
King | 15 | 15 | UWILD | |||||||||||||||||||
Sovereign | 59 | 59 | Complete UWILD, maintenance | |||||||||||||||||||
Total Other | 118 | 51 | 107 | 107 | 383 | |||||||||||||||||
Est.Total 2009 | 558 | 270 | 464 | 204 | 1,496 |
2010 Estimated Downtime = 622 days
5-year Surveys: Spartan (35); New Era (50); Guardian (50); Vanguard (50); Winner (91); Spur (35).
Intermediate Surveys: Clipper (21), Columbia (10): Other: Confidence (18); Lexington (24); Bounty (206); Alliance (32).
IMPORTANT FOOTNOTES, PLEASE READ:
Survey Costs:When rigs are undergoing surveys, normal opex applies, plus additional costs. Addl. costs for 2009 for five new 5-year surveys are expected to be approximately: $5-6 million each for Titan, Yatzy, Concord, Champion and $24 million for America.
Mobe Costs:In addition, we expect to incur approximately $32 million of amortized mobe costs during 2009 ($8 million per qtr). NOTE: Amortized mobe costs are offset by amortized mobe revenues.
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
Average Per-Day Rig Operating Costs (in $000’s):*
Jack-Ups | ||
GOM | mid 40’s | |
Mexico | mid 40’s | |
Mideast | mid 50’s | |
Indonesia | low 50’s | |
New-build Australia | mid-80’s | |
New-build Argentina | upper 70’s | |
Bareboat Charter | low 10’s | |
Semisubmersibles** | ||
GOM 2nd gen. | mid 50’s | |
GOM 4th gen. | low 80’s | |
GOM 4th gen. Victory-class upgrades | upper 60’s | |
GOM 5th gen. Victory-class upgrades | low 90’s | |
Mexico mid-water | mid 60’s | |
Brazil mid-water | upper 70’s | |
Vietnam mid-water | upper 60’s | |
Malaysia 5th gen. Victory-class upgrade | upper 90’s | |
Australia/New Zealand mid-water | low 90’s | |
UK mid-water | mid 70’s | |
Norway mid-water | mid 130’s | |
Egypt mid-water | upper 70’s | |
West Africa 4th gen. | upper 120’s | |
Semisubmersible DP | ||
GOM 5th gen. upgrade DP | upper 110’s | |
Brazil mid-water DP | low 90’s | |
Drillship | ||
Brazil deepwater DP | mid 110’s | |
Other Per-Day Expense | ||
Spare equipment repair, other | low 30’s |
* | Daily operating costs tend to run slightly lower early in the year and slightly higher toward end of year | |
** | All floaters conventionally moored unless otherwise noted. |
Cost/Revenue Footnote: Contract Drilling Expenses applies to contract drilling expenses ONLY and does not include Reimbursable Expenses
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
April 15, 2009
April 15, 2009
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, contract cancellations, customer bankruptcy, 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.