Exhibit 99.1
| | |
 | | Diamond Offshore Drilling, Inc. Rig Status Report November 16, 2011 Updated information noted in bold print |
RECENT COMMITMENTS(See Body of Report For Contract Details)
Ocean Victory
Ocean Saratoga
Ocean Guardian
Ocean Monarch
Ocean Spur
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Water Depth 2 | | | | | | | Contract Dayrate | | | Estimated | | Estimated | | | | | Expected Downtime Days3
(For events lasting 10 days or more) |
Rig Name | | (feet) | | | Location | | Operator | | ($000s) | | | Start Date | | End Date | | Status | | | 1Q11 A | | | 2Q11 A | | | 3Q11 A | | | 4Q11 E | | | 2011 E | | | 2012 E | | | Comments |
| | | | | | | | | | | | | | | | | | | Totals: | | | | 168 | | | | 24 | | | | 304 | | | | 559 | | | | 1,055 | | | | 1,073 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
GULF OF MEXICO SEMISUBMERSIBLES (3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Victory (Note 1) | | | 5,500 | | | US GOM | | ATP | | | 544,242 | | | mid May 2011 | | early Dec 2011 | | | continue six-wells | | | | | | | | | | | | | | | | | | | | | | | | 75 | | | Special Survey
in 2012 |
| | | | | | US GOM | | Walter Oil & Gas | | | 325,000 | | | early Dec 2011 | | late Jan 2012 | | | one well | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | US GOM | | ExxonMobil | | | 325,000 | | | late Jan 2012 | | early May 2012 | |
| 4 firm wells, plus 4
priced option wells |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Saratoga | | | 2,200 | | | US GOM | | Walter Oil & Gas | | | 230,000 | | | mid Nov 2011 | | early Dec 2011 | | | one well | | | | | | | | | | | | 60 | | | | 17 | | | | | | | | | | | 5-yr survey/
maintenance
in 2011 |
| | | | | | | | | | | | | | |
Ocean Yorktown | | | 2,850 | | | US GOM /
Mexico | | DODI | | | — | | | mid Aug 2011 | | early Jan 2012 | |
| 5-yr special survey,
Prep for Pemex /
Mobe / Acceptance |
| | | | | | | | | | | 42 | | | | 92 | | | | | | | | 12 | | | Mobe to
GOM/prep/
mobe |
| | | | | | Mexico | | Pemex | | | 184,000 | | | early Jan 2012 | | late July 2014 | | | 930-day term | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | |
GULF OF MEXICO JACKUPS (5) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Columbia | | | 250 IC | | | US GOM | | Walter | | | 62,500 | | | late Sep. 2011 | | late Dec 2011 | | | one well | | | | | | | | | | | | | | | | | | | | | | | | 12 | | | Intermediate
survey/
UWILD |
| | | | | | | | | | | | | | |
Ocean Nugget | | | 300 IC | | | Mexico | | Pemex | | | 84,000 | | | mid Sep. 2011 | | mid Oct 2012 | | | 430 day term | | | | | | | | | | | | 47 | | | | | | | | | | | | | | | 5-yr survey/
maintenance
in 2011 |
| | | | | | | | | | | | | | |
Ocean Summit | | | 300 IC | | | Mexico | | Pemex | | | 84,000 | | | mid Sep 2011 | | late Dec 2011 | | | remainder of term | | | | 17 | | | | | | | | 38 | | | | | | | | | | | | | | | Q1Maint.;
Q3 5-
year survey/
maint. |
| | | | | | Mexico | | DODI | | | — | | | late Dec 2011 | | late Feb 2012 | | | Standby | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Mexico | | Pemex | | | 86,000 | | | late Feb 2012 | | early Nov 2014 | | | 985 day term | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Titan | | | 350 IC | | | US GOM | | DODI | | | — | | | mid Sep. 2011 | | late Nov 2011 | | | Mobe / Acceptance | | | | | | | | | | | | 41 | | | | 61 | | | | | | | | | | | Contract prep/
mobe to
Mexico |
| | | | | | Mexico | | Pemex | | | 103,000 | | | late Nov 2011 | | early Jan 2014 | | | 777 day term | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Scepter | | | 350 IC | | | US GOM
-Shipyard | | OGX | | | 101,250 | | | mid Oct 2011 | | late Nov 2011 | | | Prep for Pemex | | | | 31 | | | | | | | | | | | | 36 | | | | | | | | 16 | | | Q1 Standby;
Q3 Contract
prep/mobe |
| | | | | | US GOM -
Shipyard | | DODI | | | | | | late Nov 2011 | | mid Jan 2012 | |
| Prep for Pemex /Mobe
/Acceptance |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Mexico | | Pemex | | | 135,000 | | | mid Jan 2012 | | late Jul 2013 | | | 612 day term | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
INTERNATIONAL SEMISUBMERSIBLES (25) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
North Sea/Mediterranean/W. Africa | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Nomad | | | 1,200 | | | North Sea | | BG International | | | 235,000 | | | late Sep. 2011 | | mid Jun 2012 | | | four firm wells | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Guardian | | | 1,500 | | | Falkland
Islands | | AGR/Desire/
Rockhopper | | | 275,000 | | | mid Aug 2011 | | late Dec 2011 | |
| second and third wells
of 10 priced option
wells |
| | | | | | | | | | | | | | | | | | | | | | | 164 | | | 80 days -
demobe to UK |
| | | | | | Falkland
Islands | | AGR/Desire/
Rockhopper | | | — | | | late Dec 2011 | | mid Mar 2012 | | | Demobe to UK | | | | | | | | | | | | | | | | | | | | | | | | | | | 84 days
-UWILD,
equipment
maintenance |
| | | | | | UK | | DODI | | | — | | | mid Mar 2012 | | early Jun 2012 | |
| UWILD, equipment
maintenance |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | UK | | DODI | | | — | | | early Jun 2012 | | early Jul 2012 | | | actively marketing | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | UK | | Shell | | | 263,000 | | | early Jul 2012 | | early Jul 2014 | |
| 2-year firm term + 1-
year unpriced option |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Princess | | | 1,500 | | | North Sea | | DODI | | | — | | | mid Aug 2011 | | early Jan 2012 | |
| Intermediate Survey /
Maint. |
| | | | | | | | | | | 46 | | | | 92 | | | | | | | | | | | Intermediate
survey/
maintenance
in 2011 |
| | | | | | North Sea | | EnQuest | | | 230,000 | | | early Jan 2012 | | late Aug 2013 | |
| 600-day term + 2 x 6
month unpriced
options |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Vanguard | | | 1,500 | | | North Sea | | Statoil | | | 352,400 | | | mid Aug 2010 | | mid Jun 2013 | |
| three-year term + one
year unpriced option |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Endeavor | | | 10,000 | | | Egypt | | Burullus /
RASHPETCO | | | 285,000 | | | late Jul 2011 | | late Mar 2012 | |
| eight-month extension
+ 3 x 4 month priced
options |
| | | | | | | | | | | | | | | | | | | | | | | 50 | | | Special Survey
in 2012 |
| | | | | | | | DODI | | | — | | | late Mar 2012 | | mid May 2012 | | | 5-year survey | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Confidence | | | 10,000 DP | | | Angola | | Cobalt | | | 360,000 | | | mid Jul 2011 | | early Mar 2012 | |
| second and third firm
wells + one priced
option |
| | | 47 | | | | | | | | | | | | | | | | | | | | 60 | | | Rig
maintenance |
| | | | | | | | DODI | | | — | | | To Be Determined | | | |
| Mobe to GOM /
Maintenance |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | GOM | | Murphy | | | 511,635 | | | To Be Determined | | | |
| resume interrupted
contract, 365 days +
unpriced option |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC. | | Page 1 of 4 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Water Depth 2 | | | | | | | Contract Dayrate | | | Estimated | | Estimated | | | | Expected Downtime Days
(For events lasting 10 days or more) |
Rig Name | | (feet) | | | Location | | Operator | | ($000s) | | | Start Date | | End Date | | Status | | 1Q11 A | | | 2Q11 A | | | 3Q11 A | | | 4Q11 E | | | 2011 E | | 2012 E | | | Comments |
Ocean Valiant | | | 5,500 | | | Equatorial
Guinea | | Hess | | | 320,000 | | | mid Nov 2011 | | mid Mar 2012 | | 4 firm wells + 2
priced option wells
+ 2 unpriced option wells | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Australasia | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Patriot | | | 1,500 | | | Australia | | PTTEP | | | 235,000 | | | mid Jun 2011 | | early March 2012 | | 21 firm wells + unpriced
options | | | | | | | | | | | | | | | | | | | | | 50 | | | Special Survey in 2012 |
| | | | | | | | | | | | | | |
Ocean America | | | 5,500 | | | Australia | | Woodside | | | 413,500 | | | mid March 2011 | | mid Aug 2012 | | remainder of 2-year term | | | 73 | | | | | | | | | | | | | | | | | | | | | Maintenance |
| | | | | | | | | | | | | | |
Ocean General | | | 3,000 | | | Malaysia | | DODI | | | | | | late Sep. 2011 | | early Dec 2011 | | Survey | | | | | | | | | | | | | | | 60 | | | | | | | | | 5-yr survey/maintenance
in 2011 |
| | | | | | | | | | | | | | |
Ocean Rover | | | 8,000 | | | Indonesia | | Murphy/Hess | | | 379,500 | | | mid Dec 2010 | | early Feb 2012 | | two firm wells | | | | | | | | | | | | | | | | | | | | | 60 | | | Prep/maintenance/
special survey |
| | | | | | Malaysia | | DODI/Murphy | | | 150,000 | | | early Feb 2012 | | early Apr 2012 | | Maintenance | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Malaysia | | Murphy | | | 450,000 | | | early Apr 2012 | | mid Jul 2012 | | resume two-year
extension + unpriced
option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Malaysia | | Murphy | | | 284,200 | | | mid Jul 2012 | | early Mar 2014 | | 600-day extension +
unpriced option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Monarch | | | 10,000 | | | GOM/
Mobe | | DODI | | | | | | mid Aug 2011 | | early Dec 2011 | | Mobe to Vietnam /
Acceptance Testing | | | | | | | | | | | 30 | | | | 70 | | | | | | | | | Standby heavy lift/mobe
to Vietnam |
| | | | | | Vietnam | | BP | | | 345,000 | | | early Dec 2011 | | early Mar 2012 | | two wells | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | DODI | | | — | | | early Mar 2012 | | mid Jun 2012 | | actively marketing | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | Niko Resources | | | 385,000 | | | mid Jun 2012 | | mid Jun 2016 | | 4-year term + unpriced
1-year option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Brazil | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Ambassador | | | 1,100 | | | Brazil | | OGX | | | 260,000 | | | mid Sep. 2009 | | mid Sep. 2012 | | 3-year term + unpriced
option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Whittington | | | 1,650 | | | Brazil | | Petrobras | | | 241,173 | | | late Jan 2009 | | late Dec 2011 | | 5-yr term (includes 50%
of pot.15% bonus) | | | | | | | | | | | | | | | | | | | | | 120 | | | Special Survey in 2012 |
| | | | | | | | | | | | | | |
Ocean Concord | | | 2,300 | | | Brazil | | Petrobras | | | 247,788 | | | early Jan 2008 | | early Jan 2013 | | 5-yr term (includes 50%
of pot.15% bonus) +
unpriced option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Brazil | | Petrobras | | | 247,788 | | | early Jan 2013 | | mid Jul 2015 | | remainder of Whittington
and Yorktown terms | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Lexington | | | 2,200 | | | Brazil | | OGX | | | 335,000 | | | early Feb 2010 | | early Mar 2012 | | 3-year term | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Brazil | | OGX | | | 271,000 | | | early Mar 2012 | | early Feb 2013 | | 3-year term
(rate reduction
blended across Star and Quest)
+ unpriced option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Yatzy | | | 3,300 DP | | | Brazil | | Petrobras | | | 257,250 | | | early Oct 2009 | | early Oct 2014 | | 5-yr term (includes
50% of pot.10% bonus) +
unpriced option | | | | | | | 24 | | | | | | | | | | | | | | | | | Intermediate
survey/maintenance
in 2011 |
Ocean Quest | | | 4,000 | | | Brazil | | OGX | | | 270,000 | | | mid Feb 2011 | | mid Jan 2012 | | revised 2-year term | | | | | | | | | | | | | | | | | | | | | 105 | | | Special Survey in 2012 |
| | | | | | Brazil | | OGX | | | 265,000 | | | mid Jan 2012 | | late Dec 2013 | | 1-year extension +
unpriced option + second
1-yr extension | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Winner | | | 4,000 | | | Brazil | | Petrobras | | | 283,500 | | | mid Oct 2010 | | mid Mar 2015 | | 5-yr term (includes 50%
of pot.10% bonus) +
unpriced option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Worker | | | 4,000 | | | Brazil | | Petrobras | | | 283,500 | | | late Feb 2009 | | late Feb 2015 | | 6-yr term (includes 50%
of pot.10% bonus) +
unpriced option | | | | | | | | | | | | | | | | | | | | | 92 | | | Special Survey in 2012 |
| | | | | | | | | | | | | | |
Ocean Alliance | | | 5,250 DP | | | Brazil | | Petrobras | | | 367,089 | | | late Jul 2010 | | late Jun 2016 | | 6-yr term (includes 50%
of pot.15% bonus) +
unpriced option | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Star | | | 5,500 | | | Brazil | | OGX | | | 310,000 | | | mid Feb 2011 | | late Dec 2011 | | part one of 2-year term
extension | | | | | | | | | | | | | | | | | | | | | 92 | | | Special Survey in 2012 |
| | | | | | Brazil | | OGX | | | 270,000 | | | late Dec 2011 | | mid Apr 2012 | | part two of 2-year term
extension | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Brazil | | OGX | | | 310,000 | | | mid Apr 2012 | | mid Feb 2014 | | remainder of 2-year term
at blended rate+ unpriced option + 1-yr
extension | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Ocean Baroness | | | 7,000 | | | Brazil | | Petrobras | | | 276,750 | | | early Sep. 2011 | | early Sep. 2015 | | converted to five-year
term
(includes 50% of pot. 5% bonus)
+ unpriced option | | | | | | | | | | | | | | | | | | | | | 75 | | | Special Survey in 2012 |
| | | | | | | | | | | | | | |
Ocean Courage | | | 10,000 DP | | | Brazil | | Petrobras | | | 406,850 | | | mid Feb 2010 | | mid Feb 2015 | | 5yr term (includes 50%
of pot. 6% bonus) +
unpriced option | | | | | | | | | | | | | | | | | | | | | 10 | | | Intermediate survey/
UWILD |
| | | | | | | | | | | | | | |
Ocean Valor | | | 10,000 DP | | | Brazil | | Petrobras | | | 440,000 | | | early Sep 2011 | | mid Oct 2015 | | converted to five-year
term + unpriced option | | | | | | | | | | | | | | | | | | | | | 10 | | | Intermediate survey/
UWILD |
| | | | | | | | | | |
INTERNATIONAL JACKUPS (3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean King | | | 300 IC | | | Montenegro | | DODI | | | | | | | | | | Actively Marketing | | | | | | | | | | | | | | | | | | | | | 60 | | | Special Survey in 2012 |
| | | | | | | | | | | | | | |
Ocean Heritage | | | 300 IC | | | Suez Gulf | | DODI | | | | | | late Sep 2011 | | mid Nov 2011 | | Five Year Survey /
Actively Marketing | | | | | | | | | | | | | | | 39 | | | | | | | | | 5-yr survey/maintenance
in 2011 |
| | | | | | | | | | | | | | |
Ocean Spur | | | 300 IC | | | Egypt | | WEPCO | | | 70,000 | | | late Sep 2011 | | late Mar 2012 | | 6-month extension | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC. | | Page 2 of 4 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Rig Name | | Water
Depth 2
(feet) | | Location | | Operator | | Contract
Dayrate
($000s) | | Estimated
Start Date | | Estimated
End Date | | Status | | 1Q11 A | | 2Q11 A | | 3Q11 A | | 4Q11 E | | 2011 E | | 2012 E | | Comments |
| INTERNATIONAL DRILLSHIPS (1) | | | | | | | | | | | | | | | | | | | | | | |
| Ocean Clipper | | 7,875 DP | | Brazil | | DODI | | | | late Sep. 2011 | | early Jan 2012 | | Survey/Upgrade for Petrobras | | | | | | | | 92 | | | | 10 | | Petrobras upgrade; maintenance |
| | | | Brazil | | Petrobras | | 312,625 | | early Jan 2012 | | early Dec 2015 | | Resume 5-yr term contract (includes 50% of pot. 5% bonus) + unpriced option | | | | | | | | | | | | | | |
| | | | | | | | | | | |
| DRILLSHIPS UNDER CONSTRUCTION (3) | | | | | | | | | | | | | | | | | | | | | | |
| Ocean BlackHawk | | 12,000 DP | | S. Korea | | DODI | | | | Q1 2011 | | Q2 2013 | | Hyundai | | | | | | | | | | | | | | |
| | | | TBA | | Anadarko | | 495,000 | | Q4 2013 | | Q4 2018 | | five-year term + unpriced option | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| Ocean BlackHornet | | 12,000 DP | | S. Korea | | DODI | | | | Q1 2011 | | Q4 2013 | | Hyundai | | | | | | | | | | | | | | |
| | | | TBA | | Anadarko | | 495,000 | | Q2 2014 | | Q2 2019 | | five-year term + unpriced option | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| Ocean BlackRhino | | 12,000 DP | | TBA | | DODI | | | | Q2 2011 | | Q2 2014 | | Hyundai | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| COLD STACKED (9) | | | | | | | | | | | | | | | | | | | | | | | | | | |
(5 jack-ups, 4 semisubmersibles) | | | | | | | | | | | | | | | | | | | | | | | | |
| Ocean Crusader | | 200 MC | | GOM | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Drake | | 200 MC | | GOM | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Champion | | 250 MS | | GOM | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Sovereign | | 300 IC | | Malaysia | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Spartan | | 300 IC | | GOM | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Voyager | | 3,200 | | GOM | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Epoch | | 3,000 | | Malaysia | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean New Era | | 1,500 | | GOM | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
| Ocean Bounty | | 1,500 | | Malaysia | | DODI | | | | | | | | Stacked | | | | | | | | | | | | | | |
NOTES
Note 1.) Ocean Victory – In regard solely to the ATP contract, for a minimum of the first 240 days and potentially for all of the initial one-year contract period, Contract Drilling Revenue is to be recognized under normal GAAP accrual accounting at $540,000 per day, and additional contract dayrate of $20,000 is to be recognized as interest income over applicable periods reflecting deferred payment plan. The contract calls for $75,000 per day of the $560,000 contract dayrate to be paid on a current basis and the remaining $485,000 per day to be paid pursuant to an overriding royalty interest structure, as discussed in the Company’s Form 8-K that was filed on June 3, 2009. The contract may be extended beyond the initial one-year contract period for such days as are necessary to complete the drilling of a well then in progress, and the dayrate for such days, if any, will be $540,000 payable in cash.
Note 2.)Nominal water depth reflects the rig’s current operating water depth capability. Often, rigs are capable of drilling, or have drilled, in greater water depths. In all cases, floating rigs are capable of working successfully at greater depths than their nominal depth. On a case by case basis, we may achieve a greater depth capacity by providing additional equipment.
Note 3.) Expected downtime reflects currently planned downtime. Expect additional downtime in the form of possible mobes for new jobs not yet contracted, possible acceptance testing at new jobs, and unanticipated maintenance. Survey start times may also be accelerated or delayed for various reasons.
General Notes
Average Utilization Rates Assume rates of 95% for DP units, 96% for conventionally moored rigs, and 98% for jack-ups. Rig utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, and other factors.
Options are unpriced and any extension of a contract is subject to mutually agreeable terms and conditions unless otherwise indicated.
All Dayrates Exclude Mobe.
Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract.
Mobe costs are amortized mobe costs and are generally offset by amortized mobe revenues.
Survey Costs:During surveys, normal operating expense will be incurred, plus additional costs.
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Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC. | | Page 3 of 4 |
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 | | Diamond Offshore Drilling, Inc. Rig Status Report November 16, 2011 |
Forward-Looking Statements:This report contains “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, future status, 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 related legal proceedings and outcomes thereof, the impact of these and related events on our operations and revenues, the effects of claims of force majeure and the outcomes of discussions with operators with regard thereto, rigs being upgraded or to be upgraded, rigs under construction and the revised Ocean Victory contract. 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.
