Exhibit 99.2
| | |
 | | Diamond Offshore Drilling, Inc. Rig Status Report February 9, 2015 Updated information noted in bold print |
RECENT COMMITMENTS (See Body of Report For Contract Details)
No new contract commitments
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Water 1 Depth | | | | | Year 3 | | | | | | Contract Dayrate | | Estimated | | Estimated | | | | | Planned Downtime 4
(For Periods Lasting >10 days) | | | |
Rig Name | | (feet) | | | Type 2 | | Built | | Location | | Operator | | (USD) | | Start Date | | End Date | | Status | | | 1Q15 E | | | 2Q15 E | | | 3Q15 E | | | 4Q15 E | | | Comments |
| | | | | | | | | | | | | | | | | | | | | Totals: | | | | 556 | | | | 335 | | | | 165 | | | | 60 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Gulf of Mexico - U.S. (6) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Star | | | 5,500 | | | SS 15K | | 1997 | | US GOM | | — | | — | | — | | — | | | Actively marketing | | | | | | | | | | | | | | | | | | | |
Ocean Victory | | | 5,500 | | | SS 15K | | 1997 | | US GOM | | — | | — | | — | | — | | | Customer Prep | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | US GOM | | — | | — | | late Mar 2015 | | early May 2015 | | | Mobe to Trinidad | | | | 10 | | | | 30 | | | | | | | | | | | Mobe |
| | | | | | | | | | Trinidad | | BP | | 398,000 | | early May 2015 | | late Apr 2017 | |
| 2-year term + 1-
year unpriced
option |
| | | | | | | | | | | | | | | | | | |
Ocean Onyx | | | 6,000 | | | SS 15K | | 2014 | | US GOM | | Apache Corporation | | 490,000 | | late Oct 2014 | | mid Feb 2015 | |
| Remainder of 1-
year term |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | US GOM | | — | | — | | mid Feb 2015 | | early Apr 2015 | |
| Prep, mobe to
Trinidad,
acceptance |
| | | 45 | | | | 2 | | | | | | | | | | | Prep, mobe, acceptance |
| | | | | | | | | | Trinidad | | BG International | | 390,000 | | early Apr 2015 | | early Aug 2015 | | | One well | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | Trinidad | | BG International | | 360,000 | | early Aug 2015 | | early Oct 2015 | | | One well | | | | | | | | | | | | | | | | | | | |
Ocean BlackHawk | | | 12,000 | | | DS 15K DP | | 2014 | | US GOM | | Anadarko | | 495,000 | | late May 2014 | | mid Jun 2019 | |
| 5-year term +
unpriced option |
| | | 11 | | | | | | | | | | | | | | | Installation of 2nd BOP |
Ocean BlackHornet | | | 12,000 | | | DS 15K DP | | 2014 | | S. Korea | | — | | — | | early Dec 2014 | | Apr 2015 | |
| Mobe to GOM;
customer
acceptance |
| | | 90 | | | | | | | | | | | | | | | Mobe, acceptance testing |
| | | | | | | | | | US GOM | | Anadarko | | 495,000 | | Apr 2015 | | Apr 2020 | |
| 5-year term +
unpriced option |
| | | | | | | | | | | | | | | | | | |
Ocean BlackRhino | | | 12,000 | | | DS 15K DP | | 2014 | | S. Korea | | — | | — | | mid Dec 2014 | | Apr 2015 | |
| Mobe to GOM;
customer
acceptance |
| | | 90 | | | | 15 | | | | | | | | | | | Mobe, acceptance testing |
| | | | | | | | | | US GOM | | Murphy | | 550,000 | | Apr 2015 | | Jan 2016 | |
| 265-day term;
prior to
commencement of
contract, may be
converted into
term lasting until
Jun 2016 at
$485,000/day |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | US GOM | | — | | — | | Jan 2016 | | Q4 2016 | | | Actively marketing | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | US GOM | | Hess | | 400,000 | | Q4 2016 | | Q4 2019 | | | 3-year Term | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Gulf of Mexico - Mexico (5) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Nugget | | | 300 | | | JU IC | | 1976 | | Mexico | | Pemex | | 97,000 | | early Jul 2013 | | mid Aug 2016 | | | 1,136-day term | | | | | | | | | | | | | | | | | | | |
Ocean Summit | | | 300 | | | JU IC | | 1972 | | Mexico | | Pemex | | 85,999 | | mid Sep 2012 | | late May 2015 | | | 985-day term | | | | | | | | | | | | | | | | | | | |
Ocean Scepter | | | 350 | | | JU 15K IC | | 2008 | | Mexico | | Pemex | | 158,000 | | early Jun 2014 | | early Mar 2016 | | | 639-day term | | | | | | | | | | | | | | | | | | | |
Ocean Ambassador | | | 1,100 | | | SS | | 1975 | | Mexico | | Pemex | | 211,445 | | early Mar 2014 | | early Mar 2016 | | | 730-day term | | | | | | | | | | | | | | | | | | | |
Ocean Yorktown | | | 2,850 | | | SS | | 1976 | | Mexico | | Pemex | | 184,000 | | early Jan 2012 | | early Mar 2015 | | | 219-day extension | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
North Sea / Mediterranean / W. Africa (7) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Nomad | | | 1,200 | | | SS | | 1975 | | UK | | Dana Petroleum | | 330,000 | | mid Aug 2013 | | mid Aug 2015 | | | 2-year term | | | | | | | | | | | | | | | | | | | |
Ocean Guardian | | | 1,500 | | | SS 15K | | 1985 | | UK | | Shell | | 352,000 | | mid Jan 2015 | | mid Jul 2015 | |
| Continuation of 1-
year extension |
| | | | | | | 60 | | | | | | | | | | | 5-Year Special Survey |
Ocean Princess | | | 1,500 | | | SS 15K | | 1975 | | UK | | EnQuest | | 230,000 | | late Nov 2014 | | late Feb 2015 | | | One well | | | | | | | | | | | | | | | | | | | |
Ocean Patriot | | | 3,000 | | | SS 15K | | 1983 | | UK | | Shell | | 400,511 | | late Oct 2014 | | late Oct 2017 | |
| 3-year term + 2 x
1-year unpriced
options |
| | | | | | | | | | | | | | | | | | |
Ocean Valiant | | | 5,500 | | | SS 15K | | 1988 | | UK | | — | | — | | — | | — | | | Contract prep | | | | 65 | | | | | | | | | | | | | | | Mobe, contract prep |
| | | | | | | | | | UK | | Premier Oil | | 320,000 | | early Mar 2015 | | late Jul 2015 | |
| Two wells + 4 x 1-
well options |
| | | | | | | | | | | | | | | | | | |
Ocean Endeavor | | | 10,000 | | | SS 15K | | 2007 | | Black Sea | | ExxonMobil | | 521,665 | | late Jun 2014 | | late Dec 2015 | |
| 18-month term
(dayrate incl. 50%
of potential 6.6%
bonus) + 6 x 6-
month unpriced
options. |
| | | | | | | | | | | | | | | | | | |
Ocean Confidence | | | 10,000 | | | SS 15K DP | | 2001 | | Canary Islands | | — | | — | | late Apr 2014 | | Mar 2015 | | | Maintenance | | | | 90 | | | | | | | | | | | | | | | Maintenance |
| | | | | | | | | | | | — | | — | | — | | — | | | Actively marketing | | | | | | | | | | | | | | | | | | | |
| | |
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 1
Depth | | | | | Year 3
Built | | | | | | | Contract
Dayrate | | | Estimated
| | Estimated
| | | | Planned Downtime 4
(For Periods Lasting >10 days) | | | |
Rig Name | | (feet) | | | Type 2 | | | Location | | Operator | | (USD) | | | Start Date | | End Date | | Status | | 1Q15 E | | | 2Q15 E | | | 3Q15 E | | | 4Q15 E | | | Comments |
Australasia (5) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Quest | | | 4,000 | | | SS 15K | | | 1973 | | | Vietnam | | PVEP | | | 198,900 | | | late Apr 2014 | | late Mar 2015 | | Remainder of 4th well + 6 x one-well priced options | | | | | | | 60 | | | | | | | | | | | Maintenance |
Ocean America | | | 5,500 | | | SS 15K | | | 1988 | | | Australia | | Chevron | | | 475,000 | | | late Nov 2013 | | late May 2015 | | 18-month term | | | | | | | | | | | | | | | | | | |
Ocean Apex | | | 6,000 | | | SS 15K | | | 2014 | | | Vietnam | | ExxonMobil | | | 485,000 | | | late Jan 2015 | | mid Apr 2015 | | One well | | | 20 | | | | | | | | | | | | | | | Mobe, acceptance testing |
Ocean Rover | | | 8,000 | | | SS 15K | | | 2003 | | | Malaysia | | Murphy | | | 465,000 | | | early Mar 2014 | | early Mar 2016 | | 2-year term + 1-year unpriced option | | | | | | | | | | | | | | | | | | |
Ocean Monarch | | | 10,000 | | | SS 15K | | | 2008 | | | Malaysia | | — | | | — | | | mid Sep 2014 | | early May 2015 | | Mobe; contract prep | | | 63 | | | | 37 | | | | | | | | | | | Mobe, contract prep |
| | | | | | | | | | | | Australia | | Apache Corporation | | | 410,000 | | | early May 2015 | | mid Oct 2016 | | 18-month term + 1 year option | | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
Brazil / S. America (8) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Spur | | | 300 | | | JU IC | | | 1981 | | | Ecuador | | Saipem | | | 30,000 | | | mid Oct 2012 | | late Apr 2015 | | bareboat charter + 1 x6-month priced option | | | | | | | | | | | | | | | | | | |
Ocean Lexington | | | 2,200 | | | SS | | | 1976 | | | Trinidad | | BG Intl / Centrica | | | 300,000 | | | early Nov 2013 | | mid May 2015 | | Six wells | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | US GOM | | BG Intl / Centrica | | | 300,000 | | | mid May 2015 | | early Jun 2015 | | Prep and demobe to US GOM | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | US GOM | | — | | | — | | | early Jun 2015 | | early Sep 2015 | | Prep, 5-year special survey, and mobe to Mexico | | | | | | | 25 | | | | 63 | | | | | | | Prep, 5-year survey, mobe |
| | | | | | | | | | | | Mexico | | Pemex | | | 160,000 | | | early Sep 2015 | | late Mar 2018 | | Firm term | | | | | | | | | | | | | | | | | | |
Ocean Winner | | | 4,000 | | | SS | | | 1976 | | | Brazil | | Petrobras | | | 283,500 | | | mid Oct 2010 | | mid Mar 2015 | | 5-year term (incl. 50% of potential 6% bonus) | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | Brazil | | — | | | — | | | — | | — | | Rig to be retired following completion of contract term | | | | | | | | | | | | | | | | | | |
Ocean Alliance | | | 5,250 | | | SS 15K DP | | | 1988 | | | Brazil | | Petrobras | | | 367,089 | | | late Jul 2010 | | mid Jun 2016 | | 6-year term (incl. 50% of potential 15% bonus) + unpriced option | | | | | | | 15 | | | | | | | | | | | Maintenance |
Ocean Clipper | | | 7,875 | | | DS 15K DP | | | 1997 | | | Brazil | | Petrobras | | | 312,625 | | | late Jan 2015 | | early Dec 2015 | | Remainder of 5-year term contract (incl. 50% of potential 5% bonus) + unpriced option | | | 10 | | | | | | | | | | | | | | | Under Water inLieu of Dry-dock rig inspection |
Ocean Baroness | | | 8,000 | | | SS 15K | | | 2002 | | | Brazil | | Petrobras | | | 276,750 | | | early Sep 2011 | | early Sep 2015 | | Remainder of 5-year term (incl. 50% of potential 5% bonus) | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | Brazil | | Petrobras | | | 310,000 | | | early Sep 2015 | | early Sep 2018 | | 3-year extension | | | | | | | | | | | | | | | | | | |
Ocean Courage | | | 10,000 | | | SS 15K DP | | | 2009 | | | Brazil | | Petrobras | | | 522,210 | | | late Sep 2014 | | late Feb 2015 | | 5-year term + $112,000 uplift (incl. 50% of potential 6% bonus) | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | Brazil | | Petrobras | | | 567,000 | | | late Feb 2015 | | late Oct 2015 | | 3-year extension + $112,000 uplift | | | | | | | | | | | 10 | | | | | | | Maintenance |
| | | | | | | | | | | | Brazil | | Petrobras | | | 455,000 | | | late Oct 2015 | | late Feb 2018 | | 3-year extension | | | | | | | | | | | | | | | | | | |
Ocean Valor | | | 10,000 | | | SS 15K DP | | | 2009 | | | Brazil | | Petrobras | | | 440,000 | | | early Sep 2011 | | mid Oct 2015 | | Remainder of 5-year term | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | Brazil | | Petrobras | | | 455,000 | | | mid Oct 2015 | | mid Oct 2018 | | 3-year extension | | | | | | | | | | | | | | | | | | |
| | | | | | | | | |
Rigs Under Construction (2) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean BlackLion | | | 12,000 | | | DS 15K DP | | | 2015 | | | S. Korea | | — | | | — | | | Q2 2012 | | Q4 2015 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | | | | 91 | | | | 92 | | | | 60 | | | Mobe, acceptance testing |
| | | | | | | | | | | | US GOM | | Hess | | | 400,000 | | | Q4 2015 | | Q4 2019 | | 4-year Term | | | | | | | | | | | | | | | | | | |
Ocean GreatWhite | | | 10,000 | | | SS 15K DP | | | 2016 | | | S. Korea | | — | | | — | | | Q3 2013 | | H2 2016 | | Hyundai shipyard; commissioning; mobe; acceptance | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | Australia | | 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 | | | | | | | | | | | | | | | | | | |
| | |
Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC. | | Page 2 of 4 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Water 1 Depth | | | | | Year 3 | | | | | | Contract Dayrate | | Estimated | | Estimated | | | | Planned Downtime 4
(For Periods Lasting >10 days) | | |
Rig Name | | (feet) | | | Type 2 | | Built | | Location | | Operator | | (USD) | | Start Date | | End Date | | Status | | 1Q15 E | | | 2Q15 E | | 3Q15 E | | 4Q15 E | | Comments |
| COLD STACKED (6) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean King | | | 300 | | | JU IC | | 1973 | | US GOM | | — | | — | | — | | — | | Prep for stacking | | | | | | | | | | | | |
Ocean Titan | | | 350 | | | JU 15K IC | | 1974 | | US GOM | | — | | — | | — | | — | | Prep for stacking | | | | | | | | | | | | |
Ocean Vanguard | | | 1,500 | | | SS 15K | | 1982 | | UK | | — | | — | | — | | — | | Stacked, Actively
marketing | | | | | | | | | | | | |
Ocean Saratoga | | | 2,200 | | | SS | | 1976 | | US GOM | | — | | — | | — | | — | | Stacked | | | | | | | | | | | | |
Ocean General | | | 3,000 | | | SS | | 1976 | | Indonesia | | — | | — | | — | | — | | Stacked | | | | | | | | | | | | |
Ocean Worker | | | 4,000 | | | SS | | 1982 | | US GOM | | — | | — | | — | | — | | In transit to US
GOM for Cold
Stacking | | | 62 | | | | | | | | | Mobe, prep for stacking |
| | | | | | | | | | | | | | |
RETIRED | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Concord | | | 2,300 | | | SS | | 1975 | | — | | — | | — | | — | | — | | Sold | | | | | | | | | | | | |
Ocean Epoch | | | 3,000 | | | SS | | 1977 | | Malaysia | | — | | — | | — | | — | | Stacked | | | | | | | | | | | | |
Ocean Yatzy | | | 3,300 | | | SS DP | | 1989 | | Brazil | | — | | — | | — | | — | | Prep for
exportation,
scrapping | | | | | | | | | | | | |
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.) Rig Type and capabilities:JU=Jack-up;SS=Semisubmersible;DS=Drillship;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.
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 amortized revenue related to amounts earned for certain activities, such as mobe, demobe, contract preparation, etc.
Survey Costs:During surveys, normal operating expense will be incurred, plus additional costs.
US GOM=U.S. Gulf of Mexico
UWILD=Under Water in Lieu of Dry-dock rig inspection.
| | |
Please refer to accompanying disclaimer as well as Diamond Offshore’s 10-K and 10-Q filings with the SEC. | | Page 3 of 4 |
| | |
 | | 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.
Page 4 of 4
