Exhibit 99.2
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 | | Diamond Offshore Drilling, Inc. Rig Status Report November 2, 2011 Updated information noted in bold print |
RECENT COMMITMENTS (See Body of Report For Contract Details)
Ocean Guardian: 1-year term
Ocean Courage: 875-day term extension
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| | | 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 | | 4Q15 E | | | Comments |
Gulf of Mexico — U.S. | | | | | | | | | | | | | | | | | | | | | | | | Total: | | | 145 | | | |
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Ocean BlackHawk | | | 12,000 | | | DS 15K DP | | | 2014 | | | US GOM | | Anadarko | | | 495,000 | | | late May 2014 | | mid Jun 2019 | | 5-year term + unpriced option | | | | | | |
Ocean BlackHornet | | | 12,000 | | | DS 15K DP | | | 2014 | | | US GOM | | Anadarko | | | 495,000 | | | mid Apr 2015 | | mid Apr 2020 | | 5-year term + unpriced option | | | | | | |
Ocean BlackRhino(note 5) | | | 12,000 | | | DS 15K DP | | | 2014 | | | US GOM | | Murphy | | | 398,000 | | | late May 2015 | | late Sep 2016 | | Extended term | | | | | | |
| | | | | | | | | | | | US GOM | | — | | | — | | | late Sep 2016 | | mid Dec 2016 | | Contract prep and customer acceptance | | | | | | |
| | | | | | | | | | | | US GOM | | Hess | | | 400,000 | | | mid Dec 2016 | | mid Dec 2019 | | 3-year term | | | | | | |
Ocean BlackLion | | | 12,000 | | | DS 15K DP | | | 2015 | | | US GOM | | — | | | — | | | early Oct 2015 | | mid Dec 2015 | | Customer preparation and acceptance | | | 75 | | | |
| | | | | | | | | | | | US GOM | | Hess | | | 400,000 | | | mid Dec 2015 | | mid Dec 2019 | | 4-year term | | | | | | |
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Gulf of Mexico — Mexico | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Scepter | | | 350 | | | JU 15K IC | | | 2008 | | | Mexico | | Pemex | | | 115,000 | | | early Jan 2015 | | early Mar 2016 | | Remainder of 639-day term at revised rate | | | | | | |
Ocean Ambassador | | | 1,100 | | | SS | | | 1975 | | | Mexico | | Pemex | | | 115,000 | | | early May 2015 | | early Mar 2016 | | Remainder of 730-day term at revised rate | | | | | | |
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North Sea / Mediterranean / W. Africa | | | | | | | | | | | | | | | | | | | | | | |
Ocean Guardian | | | 1,500 | | | SS 15K | | | 1985 | | | UK | | Dana | | | 220,000 | | | early Mar 2016 | | early Mar 2017 | | 1-year term | | | | | | |
Ocean Patriot | | | 3,000 | | | SS 15K | | | 1983 | | | UK | | Shell | | | 400,511 | | | late Oct 2014 | | late Oct 2017 | | 3-year term | | | | | | |
Ocean Valiant | | | 5,500 | | | SS 15K | | | 1988 | | | UK | | Premier Oil | | | 320,000 | | | early Jun 2015 | | late Dec 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) | | | | | | |
Ocean Confidence | | | 10,000 | | | SS 15K DP | | | 2001 | | | Canary Islands | | — | | | — | | | — | | — | | Actively marketing | | | | | | |
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Australasia | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Quest | | | 4,000 | | | SS 15K | | | 1973 | | | Malaysia | | — | | | — | | | — | | — | | Actively marketing | | | 60 | | | Helideck upgrade |
Ocean America | | | 5,500 | | | SS 15K | | | 1988 | | | Malaysia | | — | | | — | | | — | | — | | Actively marketing | | | | | | |
Ocean Apex | | | 6,000 | | | SS 15K | | | 2014 | | | Malaysia | | — | | | — | | | — | | — | | Actively marketing | | | | | | |
| | | | | | | | | | | | Australia | | Woodside Energy | | | 285,000 | | | Jun 2016 | | Nov 2017 | | 18-month term, convertible to 24-month @ $270k/day + 1 x 12-month + 2 x6-month unpriced options | | | | | | |
Ocean Rover | | | 8,000 | | | SS 15K | | | 2003 | | | Malaysia | | Murphy | | | 465,000 | | | early Mar 2014 | | early Mar 2016 | | 2-year term | | | | | | |
Ocean Monarch | | | 10,000 | | | SS 15K | | | 2008 | | | Australia | | Quadrant / Woodside | | | 410,000 | | | mid Jul 2015 | | early Oct 2016 | | 15 months of 18-month term + 1 year option | | | | | | |
| | | | | | | | | | | | Australia | | Apache / Quadrant | | | 350,000 | | | early Oct 2016 | | early Jan 2017 | | 3 months at reduced rate on 18-month term | | | | | | |
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South America | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Ocean Victory | | | 5,500 | | | SS 15K | | | 1997 | | | Trinidad | | BP | | | 398,000 | | | early May 2015 | | mid May 2017 | | 2-year term + 1-year unpriced option | | | | | | |
Ocean Onyx | | | 6,000 | | | SS 15K | | | 2014 | | | Trinidad | | BG International | | | 360,000 | | | early Aug 2015 | | late Nov 2015 | | One well | | | | | | |
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Ocean Courage (note 6) | | | 10,000 | | | SS 15K DP | | | 2009 | | | Brazil | | Petrobras | | | 455,000 | | | late Oct 2015 | | late Feb 2018 | | 3-year extension | | | 10 | | | Maintenance |
| | | | | | | | | | | | Brazil | | Petrobras | | | 380,000 | | | late Feb 2018 | | late Jul 2020 | | Term extension | | | | | | |
Ocean Valor | | | 10,000 | | | SS 15K DP | | | 2009 | | | Brazil | | Petrobras | | | 455,000 | | | mid Oct 2015 | | mid Oct 2018 | | 3-year extension | | | | | | |
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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 3 |
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| | | 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 | | 4Q15 E | | Comments |
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UNDER CONSTRUCTION | | | | | | | | | | | | | | | | | | | | | | | | | |
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 | | | | |
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COLD STACKED | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Summit | | | 300 | | | JU IC | | | 1972 | | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean King | | | 300 | | | JU IC | | | 1973 | | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Nugget | | | 300 | | | JU IC | | | 1976 | | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Spur | | | 300 | | | JU IC | | | 1981 | | | Malaysia | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Titan | | | 350 | | | JU 15K IC | | | 1974 | | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Nomad | | | 1,200 | | | SS | | | 1975 | | | UK | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Princess | | | 1,500 | | | SS 15K | | | 1975 | | | UK | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Vanguard | | | 1,500 | | | SS 15K | | | 1982 | | | UK | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean General | | | 3,000 | | | SS | | | 1976 | | | Malaysia | | — | | | — | | | — | | — | | Stacked | | | | |
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Ocean Alliance (note 6) | | | 5,250 | | | SS 15K DP | | | 1988 | | | Brazil / US GOM | | — | | | — | | | — | | — | | Prep for exportation and cold stacking; Demobe to US GOM | | | | |
Ocean Star | | | 5,500 | | | SS 15K | | | 1997 | | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
Ocean Baroness | | | 8,000 | | | SS 15K | | | 2002 | | | US GOM | | — | | | — | | | — | | — | | Stacked | | | | |
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RETIRED | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ocean Lexington | | | 2,200 | | | SS | | | 1976 | | | — | | — | | | — | | | — | | — | | Sold in 3Q 2015 | | | | |
Ocean Clipper(note 6) | | | 7,875 | | | DS 15K DP | | | 1997 | | | 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 Built represents 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 Downtime only includes downtime periods that as of this report date are, or have been, planned and estimable and do not necessarily reflect actual downtime experienced.Additionaldowntimemaybeexperienced 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.) Before December 1, 2015, Murphy can revert contract term on theOcean BlackRhino to its previous 265-day duration and pay a lump sum “payback fee” based on a rate of $550,000 per day.
(6.) In October 2015, we reached agreement with Petrobras to terminate the drilling contracts on theOcean Clipper andOcean Alliance early, effective on October 30, 2015, and to add 875 days to the end of the current term of the drilling contract on theOcean Courage at the rate of $380,000 per day. Petrobras has approved the agreement and we are in the process of completing the amendments to the drilling contracts.
General Notes
Average Utilization: Assume rates of 92% for DP units,95% for conventionally moored rigs, and97% 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
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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 3 |
| | |
 | | 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 opportunities 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.
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