Exhibit 99.1
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| | Diamond Offshore Drilling, Inc. Rig Status Report October 23, 2013 Updated information noted in bold print |
RECENT COMMITMENTS (See Body of Report For Contract Details)
Ocean Saratoga: One well + two options
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Rig Name | | Water 1,2
Depth
(feet) | | Year 3
Built | | Location | | Operator | | Contract
Dayrate
(USD) | | | Estimated
Start Date | | Estimated
End Date | | Status | | Planned Downtime 4
(For Periods Lasting >10 days) |
| | | | | | | | | | 4Q13 E | | | Comments |
GULF OF MEXICO SEMISUBMERSIBLES (4) | | | | | | | Totals: | | | 402 | | | |
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| Ocean Ambassador | | 1,100 | | 1975 | | US GOM | | — | | | — | | | mid Sep 2013 | | Q1 2014 | | 5-Year Special Survey; prep; mobe | | | 92 | | | 5-Year Special Survey; prep; mobe |
| | | | | | Mexico | | Pemex | | | 211,445 | | | Q1 2014 | | Q1 2016 | | 730-day Term | | | | | | |
| Ocean Saratoga | | 2,200 | | 1976 | | Nicaragua | | Noble Energy | | | 323,000 | | | mid Aug 2013 | | late Nov 2013 | | One well + 1 x unpriced option well | | | | | | |
| | | | | | Nicaragua | | Noble Energy | | | 265,500 | | | late Nov 2013 | | mid Dec 2013 | | Demobe to GOM | | | | | | |
| | | | | | US GOM | | LLOG | | | 300,000 | | | mid Dec 2013 | | late Feb 2014 | | One well + 2 x unpriced option wells | | | | | | |
| Ocean Yorktown | | 2,850 | | 1976 | | Mexico | | Pemex | | | 184,000 | | | early Jan 2012 | | late July 2014 | | 930-day term | | | | | | |
| Ocean Victory | | 5,500 (15K) | | 1997 | | US GOM | | Eni US Operating Co. | | | 475,000 | | | early Sep 2012 | | late Oct 2013 | | 40-day extension | | | | | | |
| | | | | | US GOM | | Stone Energy | | | 480,000 | | | late Oct 2013 | | late Jan 2014 | | One well | | | | | | |
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| GULF OF MEXICO JACK-UPS (5) | | | | | | | | | | | | | |
| Ocean King | | 300 IC | | 1973 | | US GOM | | Rooster Petroleum | | | 115,000 | | | late Apr 2013 | | early Nov 2013 | | One well | | | | | | |
| Ocean Nugget | | 300 IC | | 1976 | | Mexico | | Pemex | | | 97,000 | | | early Jul 2013 | | mid Aug 2016 | | 1,136-day term | | | | | | |
| Ocean Summit | | 300 IC | | 1972 | | Mexico | | Pemex | | | 85,999 | | | mid Sep 2012 | | late May 2015 | | 985-day term | | | | | | |
| Ocean Titan | | 350 IC (15K) | | 1974 | | Mexico | | Pemex | | | 103,000 | | | mid Dec 2011 | | early Jan 2014 | | 778-day term | | | | | | 2014: 5-Year Special Survey5 |
| Ocean Scepter | | 350 IC (15K) | | 2008 | | Mexico | | Pemex | | | 134,999 | | | late Dec 2011 | | late Dec 2013 | | 612-day term + 157-day extension | | | | | | 2014: 5-Year Special Survey5 |
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| INTERNATIONAL SEMISUBMERSIBLES (23) | | | | | | | | | | | | | |
| North Sea / Mediterranean / W. Africa | | | | | | | | | | | | | | | | | | |
| Ocean Nomad | | 1,200 | | 1975 | | UK | | Dana Petroleum | | | 330,000 | | | mid Aug 2013 | | mid Aug 2015 | | 2-year term + 2 x 6-month unpriced options | | | | | | |
| Ocean Guardian | | 1,500 (15K) | | 1985 | | UK | | Shell | | | 265,000 | | | mid Jul 2012 | | mid Jul 2014 | | 2-year term | | | | | | |
| | | | | | UK | | Shell | | | 350,000 | | | mid Jul 2014 | | mid Jul 2015 | | 1-year term + 2 x 1-year unpriced options | | | | | | |
| Ocean Princess | | 1,500 (15K) | | 1975 | | UK | | — | | | — | | | mid Aug 2013 | | late Oct 2013 | | 2-1/2 Year Special Survey | | | 28 | | | 2-1/2 Year Special Survey |
| | | | | | UK | | EnQuest | | | 230,000 | | | late Oct 2013 | | late Dec 2013 | | Balance of 600-day term | | | | | | |
| Ocean Vanguard | | 1,500 (15K) | | 1982 | | Norway | | Statoil | | | 454,000 | | | early Jul 2013 | | late Feb 2015 | | 20-month option + unpriced option | | | | | | |
| Ocean Valiant | | 5,500 | | 1988 | | Canary Islands | | — | | | — | | | late Sep 2013 | | mid Feb 2014 | | 5-Year Special Survey | | | 92 | | | 5-Year Special Survey (140 days est. total) |
| Ocean Endeavor | | 10,000 (15K) | | 2007 | | Egypt | | Burullus / RASHPETCO | | | 285,000 | | | late Jul 2012 | | early Jan 2014 | | Final Extension | | | | | | |
| | | | | | Egypt | | — | | | — | | | early Jan 2014 | | mid Feb 2014 | | Customs clearance | | | 0 | | | |
| | | | | | Mediterranean Sea | | ExxonMobil | | | — | | | mid Feb 2014 | | mid Jul 2014 | | Mobilization and customer requested upgrades; Lump-sum payment received for mobe and shipyard time to be amortized to revenue during 18-month contract term. | | | | | | |
| | | | | | Black Sea | | ExxonMobil | | | 521,665 | | | mid Jul 2014 | | mid Jan 2016 | | 18-month term (dayrate incl. 50% of potential 6.6% bonus) + 6 x 6-month unpriced options. | | | | | | |
| Ocean Confidence | | 10,000 DP (15K) | | 2001 | | Angola | | Cobalt | | | 430,000 | | | mid Oct 2013 | | early Mar 2014 | | One well | | | | | | |
| | | | | | Canary Islands | | — | | | — | | | early Mar 2014 | | mid Jan 2015 | | Maintenance | | | | | | 2014: Maintenance5 |
| | | | | | West Africa | | Murphy | | | 511,635 | | | To Be Determined | | Resume interrupted contract, 365 days + unpriced option | | | | | | |
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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 1 of 4 |
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Rig Name | | Water 1,2
Depth
(feet) | | Year 3
Built | | Location | | Operator | | Contract
Dayrate
(USD) | | | Estimated
Start Date | | Estimated
End Date | | Status | | Planned Downtime 4
(For Periods Lasting >10 days) |
| | | | | | | | | | 4Q13 E | | | Comments |
Australasia | | | | | | | | | | | | | | | | | | | | |
| Ocean Patriot | | 3,000 (15K) | | 1983 | | Philippines | | Otto Energy | | | 275,000 | | | early Jun 2013 | | late Oct 2013 | | Two wells | | | | | | |
| | | | | | Singapore | | — | | | — | | | late Oct 2013 | | late Aug 2014 | | Enhancements for North Sea Operations; mobe to UK | | | 68 | | | Enhancements for N. Sea; mobe to UK |
| | | | | | UK | | Shell | | | 400,511 | | | late Aug 2014 | | late Aug 2017 | | 3-year term + 2 x 1-year unpriced options | | | | | | |
| Ocean General | | 3,000 | | 1976 | | Vietnam | | Premier Vietnam | | | 268,421 | | | late Jul 2013 | | early Jan 2014 | | Two wells + sidetrack | | | | | | |
| | | | | | Indonesia | | Premier Indonesia | | | 255,000 | | | early Jan 2014 | | mid Mar 2014 | | Two wells | | | | | | |
| Ocean America | | 5,500 (15K) | | 1988 | | Singapore | | — | | | — | | | late Jul 2013 | | late Nov 2013 | | Demobe to Singapore; 5-Year Special Survey; mobe to Australia | | | 53 | | | 5-Year Special Survey + BOP Upgrade |
| | | | | | Australia | | Chevron | | | 475,000 | | | late Nov 2013 | | late May 2015 | | 18-month term + 1-year unpriced option | | | | | | |
| Ocean Rover | | 8,000 (15K) | | 2003 | | Malaysia | | Murphy | | | 304,547 | | | late Apr 2012 | | early Mar 2014 | | Balance of 600-day extension | | | | | | |
| | | | | | Malaysia | | Murphy | | | 465,000 | | | early Mar 2014 | | early Mar 2016 | | 2-year term + 1-year unpriced option | | | | | | |
| Ocean Monarch | | 10,000 (15K) | | 2008 | | Indonesia | | Niko Resources | | | — | | | early Oct 2012 | | early Oct 2016 | | Standby (see note 6) | | | | | | |
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Brazil / S. America | | | | | | | | | | | | | | | | | | |
| Ocean Lexington | | 2,200 | | 1976 | | Trinidad | | Niko | | | — | | | late Sep 2013 | | early Nov 2014 | | Standby (see note 6) | | | | | | |
| | | | | | Trinidad | | BG International / Centrica | | | 300,000 | | | early Nov 2014 | | early Oct 2014 | | 477-day min. term + 2 x 45-day unpriced options + 315-day unpriced option | | | | | | |
| Ocean Concord | | 2,300 | | 1975 | | Brazil | | Petrobras | | | 247,788 | | | early Jan 2008 | | mid Jun 2015 | | Remaining term (incl. 50% of potential 15% bonus) | | | | | | 2014: 5-Year Special Survey5 |
| Ocean Yatzy | | 3,300 DP | | 1989 | | Brazil | | Petrobras | | | 257,250 | | | early Oct 2009 | | early Oct 2014 | | 5-year term (incl. 50% of potential 10% bonus) + unpriced option | | | | | | 2014: 5-Year Special Survey5 |
| Ocean Quest | | 4,000 (15K) | | 1973 | | Malaysia | | — | | | — | | | — | | — | | Standby; mobe to Malaysia; actively marketing | | | 35 | | | Mobilization to Malaysia |
| Ocean Winner | | 4,000 | | 1976 | | Brazil | | Petrobras | | | 283,500 | | | mid Oct 2010 | | mid Mar 2015 | | 5-year term (incl. 50% of potential 10% bonus) + unpriced option | | | | | | |
| Ocean Worker | | 4,000 | | 1982 | | Brazil | | Petrobras | | | 283,500 | | | late Feb 2009 | | late Feb 2015 | | 6-year term (incl. 50% of potential 10% bonus) + unpriced option | | | | | | |
| Ocean Alliance | | 5,250 DP (15K) | | 1988 | | Brazil | | Petrobras | | | 367,089 | | | late Jul 2010 | | mid Jun 2016 | | 6-year term (incl. 50% of potential 15% bonus) + unpriced option | | | 0 | | | 2014: 5-Year Special Survey5 Survey moved to Q1 2014 |
| Ocean Star | | 5,500 (15K) | | 1997 | | Brazil | | Queiroz Galvão | | | 301,000 | | | late Sep 2013 | | late Feb 2014 | | Continue term assignment from OGX + unpriced option | | | | | | |
| Ocean Baroness | | 8,000 (15K) | | 2002 | | Brazil | | Petrobras | | | 276,750 | | | early Sep 2011 | | early Sep 2015 | | Converted to 5-year term (incl. 50% of potential 5% bonus) + unpriced option | | | | | | |
| Ocean Courage | | 10,000 DP (15K) | | 2009 | | Brazil | | Petrobras | | | 406,850 | | | mid Feb 2010 | | mid Feb 2015 | | 5-year term (incl. 50% of potential 6% bonus) + unpriced option | | | | | | 2014: 5-Year Special Survey5 |
| Ocean Valor | | 10,000 DP (15K) | | 2009 | | Brazil | | Petrobras | | | 440,000 | | | early Sep 2011 | | mid Oct 2015 | | Converted to 5-year term + unpriced option | | | | | | 2014: 5-Year Special Survey5 |
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| INTERNATIONAL JACK-UPS (1) | | | | | | | | | | | | | | | | | | |
| Ocean Spur | | 300 IC | | 1981 | | Ecuador | | Saipem | | | 30,000 | | | mid Oct 2012 | | late Aug 2014 | | 2-year bareboat charter + 2 x 6-month priced options | | | | | | |
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| INTERNATIONAL DRILLSHIPS (1) | | | | | | | | | | | | | | | | | | |
| Ocean Clipper | | 7,875 DP (15K) | | 1997 | | Brazil | | Petrobras | | | 312,625 | | | late Jan 2012 | | early Dec 2015 | | Remainder of 5-year term contract (incl. 50% of potential 5% bonus)+ unpriced option | | | | | | |
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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��2 of 4 |
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Rig Name | | Water 1,2
Depth
(feet) | | Year 3
Built | | Location | | Operator | | Contract
Dayrate
(USD) | | | Estimated
Start Date | | Estimated
End Date | | Status | | Planned Downtime 4
(For Periods Lasting >10 days) |
| | | | | | | | | | 4Q13 E | | Comments |
| RIGS UNDER CONSTRUCTION (7) | | | | | | | | | | | | | | | | |
| Ocean BlackHawk | | 12,000 DP (15K) | | 2013 | | S. Korea | | — | | | — | | | Q1 2011 | | Apr 2014 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | |
| | | | | | US GOM | | Anadarko | | | 495,000 | | | Apr 2014 | | Q2 2019 | | 5-year term + unpriced option | | | | |
| Ocean BlackHornet | | 12,000 DP (15K) | | 2013 | | S. Korea | | — | | | — | | | Q1 2011 | | Q3 2014 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | |
| | | | | | US GOM | | Anadarko | | | 495,000 | | | Q3 2014 | | Q3 2019 | | 5-year term + unpriced option | | | | |
| Ocean BlackRhino | | 12,000 DP (15K) | | 2014 | | S. Korea | | — | | | — | | | Q2 2011 | | Q4 2014 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | |
| Ocean BlackLion | | 12,000 DP (15K) | | 2014 | | S. Korea | | — | | | — | | | Q2 2012 | | Q2 2015 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | |
| Ocean Onyx | | 6,000 (15K) | | 2013 | | US GOM | | — | | | — | | | Q1 2012 | | Feb 2014 | | Keppel AmFELS; commissioning; mobe; acceptance | | | | |
| | | | | | US GOM | | Apache Corporation | | | 490,000 | | | Feb 2014 | | Feb 2015 | | 1-year term + 1-year unpriced option | | | | |
| Ocean Apex | | 6,000 (15K) | | 2014 | | Singapore | | — | | | — | | | Q3 2012 | | Q4 2014 | | Jurong shipyard; commissioning; mobe; acceptance | | | | |
| Ocean GreatWhite | | 10,000 DP (15K) | | 2016 | | S. Korea | | — | | | — | | | Q3 2013 | | H2 2016 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | |
| | | | | | | | BP | | | 585,000 | * | | H2 2016 | | H2 2019 | | 3-year term + 2 x 1-year priced options (@ 585,000 + escalations); *Dayrate to increase for customer-requested equipment additions | | | | |
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| COLD STACKED (4) | | | | | | | | | | | | | | | | |
| (1 jack-up, 3 semisubmersibles) | | | | | | | | | | | | | | | | |
| Ocean Spartan | | 300 IC | | 1980 | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
| Ocean New Era | | 1,500 | | 1974 | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
| Ocean Whittington | | 1,650 | | 1974 | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
| Ocean Epoch | | 3,000 | | 1977 | | Malaysia | | — | | | — | | | — | | — | | Stacked | | | | |
NOTES
| (1.) | Water Depth refers to the rig’s rated operating water depth capability. Often, rigs are capable of drilling or have drilled in greater water depths. |
| (2.) | Additional rig capabilities noted within the column:15K=15,000 PSI Well-Control System;DP=Dynamically Positioned Rig;IC=Independent-Leg Cantilevered Rig. |
| (3.) | Year Builtrepresents when rig was (or is expected to be) built and originally placed in service or year redelivered with significant enhancements that enabled the rig to be classified within a different floater category than when originally constructed. |
| (4.) | Planned Downtimeonly includes downtime periods that as of this report date are, or have been, planned and estimable and do not necessarily reflect actual downtime experienced.Additional downtime may be experienced in the form of possible mobes for new jobs not yet contracted, possible acceptance testing at new jobs, and unplanned maintenance and repairs. Survey start times may also be accelerated or delayed for various reasons. |
| (5.) | The following are expected to undergo Special Surveys or maintenance during 2014: |
1)Ocean Alliance, 2) Ocean Concord, 3)Ocean Confidence, 4)Ocean Courage, 5)Ocean Scepter, 6)Ocean Titan, 7)Ocean Valor, and 8)Ocean Yatzy.
| (6.) | We have notified Niko Resources that it is delinquent in its payment obligations under theOcean Monarch contract. As of the date of this report, theOcean Monarch is warm stacked. In addition, Niko Resources is scheduled to utilize theOcean Lexington for an aggregate of approximately 158 days over the term of its contract offshore Trinidad. We are in discussions with Niko Resources regarding payment and their obligations under the contracts. |
General Notes
Average Utilization:Assume rates of 92% 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 should be assumed to be unpriced unless otherwise indicated.
Dayrates Exclude Mobe.Mobe revenues (if any) and expenses are deferred and amortized over the life of the contract, in most cases. Mobe costs are generally offset by mobe revenues.
Survey Costs:During surveys, normal operating expense will be incurred, plus additional costs.
US GOM=U.S. Gulf of Mexico
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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 |
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, future contract opportunites and termination rights, letters of intent, utilization, surveys, downtime and other aspects of the Company’s drilling rigs, as well as statements concerning customer discussions and outcomes thereof, the impact of these and related events on our operations and revenues, 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.
