Exhibit 99.1
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 | | Diamond Offshore Drilling, Inc. Rig Status Report September 1, 2016 Updated information noted in bold print |
RECENT COMMITMENTS(See Body of Report For Contract Details)
Ocean Valiant and Ocean Scepter
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| | | Water
Depth ¹ | | | | | Year 3 | | | | | | | Contract
Dayrate | | Estimated | | Estimated | | | | | Planned
Downtime 4 | | | |
Rig Name | | (feet) | | | Type 2 | | Built | | Location | | | Operator | | (USD) | | Start Date | | End Date | | | Status | | 3Q16 E | | | 4Q16 E | | | Comments |
| | | | | | | | | | | | | | | | | | | | | | | | Totals: | | | 56 | | | | 0 | | | |
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Gulf of Mexico | | | | | | | | | | | | | | | | | | | | |
| Ocean BlackHawk | | | 12,000 | | | DS 15K DP | | 2014 | | | US GOM | | | Anadarko | | 495,000 | | late May 2014 | | | mid Jun 2019 | | | 5-year term + unpriced option | | | 10 | | | | | | | |
| 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 | | | 12,000 | | | DS 15K DP | | 2014 | | | US GOM | | | — | | — | | mid Feb 2016 | | | early Jan 2017 | | | Contract prep; standby; customer acceptance | | | | | | | | | | |
| | | | | | | | | | | US GOM | | | Hess | | 400,000 | | early Jan 2017 | | | early Jan 2020 | | | 3-year term | | | | | | | | | | |
| Ocean BlackLion | | | 12,000 | | | DS 15K DP | | 2015 | | | US GOM | | | Hess | | 400,000 | | mid Feb 2016 | | | mid Feb 2020 | | | 4-year term | | | | | | | | | | |
| Ocean Scepter | | | 350 | | | JU 15K IC | | 2008 | | | Mexico | | | Fieldwood | | Undisclosed | | mid Jan 2017 | | | early Aug 2017 | | | 1 well + 1 option well | | | | | | | | | | |
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 | | | Contract Prep | | | | mid Aug 2016 | | | mid Q4 2016 | | | | | | | | | | | | | |
| | | | | | | | | | | UK | | | Maersk | | Undisclosed | | mid Q4 2016 | | | mid Q4 2017 | | | 13 wells | | | | | | | | | | |
Australasia | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Ocean Apex | | | 6,000 | | | SS 15K | | 2014 | | | Australia | | | Woodside Energy | | 285,000 | | mid May 2016 | | | mid Nov 2017 | | | 18-month term, | | | | | | | | | | |
| | | | | | | | | | | | | | | | 205,000 | | mid Nov 2017 | | | mid Feb 2018 | | | 3-month extension | | | | | | | | | | |
| Ocean Monarch | | | 10,000 | | | SS 15K | | 2008 | | | Australia | | | Quadrant | | 410,000 | | mid Jul 2015 | | | mid May 2016 | | | 10 months of 18-month term + 1 year option | | | | | | | | | | |
| | | | | | | | | | | | | | | | 350,000 | | mid May 2016 | | | early Jul 2016 | | | Reduced Rate on 18-month term | | | | | | | | | | |
| | | | | | | | | | | | | | | | 410,000 | | early Jul 2016 | | | late Nov 2016 | | | 5 months of 18-month term + 1 year option | | | 14 | | | | | | | |
| | | | | | | | | | | | | | | | 350,000 | | late Nov 2016 | | | early Jan 2017 | | | Reduced Rate on 18-month term | | | | | | | | | | |
| Ocean GreatWhite | | | 10,000 | | | SS 15K DP | | 2016 | |
| Singapore /
Australia |
| | — | | — | | mid Jul 2016 | | | late Q4 2016 | | | Commissioning; mobe; acceptance | | | | | | | | | | |
| | | | | | | | | | | Australia | | | BP | | 585,000 | | late Q4 2016 | | | late Q4 2019 | | | 3-year term + 2 x 1-year priced options | | | | | | | | | | |
South America | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Ocean Victory | | | 5,500 | | | SS 15K | | 1997 | | | Trinidad | | | BP | | 398,000 | | early May 2015 | | | mid May 2017 | | | 2-year term + 1-year unpriced option | | | 13 | | | | | | | |
| Ocean Courage | | | 10,000 | | | SS 15K DP | | 2009 | | | Brazil | | | Petrobras | | 455,000 | | late Oct 2015 | | | late Feb 2018 | | | 3-year extension | | | 8 | | | | | | | |
| | | | | | | | | | | Brazil | | | Petrobras | | 380,000 | | late Feb 2018 | | | late Jul 2020 | | | Term extension | | | | | | | | | | |
| Ocean Valor | | | 10,000 | | | SS 15K DP | | 2009 | | | Brazil | | | Petrobras | | 455,000 | | early Jul 2016 | | | late Aug 2016 | | | Standby Rate | | | 11 | | | | | | | |
| | | | | | | | | | | | | | Petrobras | | | | | | | late Aug 2016 | | | Contract Terminated | | | | | | | | | | |
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 Nomad | | | 1,200 | | | SS | | 1975 | | | UK | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Princess | | | 1,500 | | | SS 15K | | 1975 | | | UK | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
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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
Depth ¹ | | | | | Year 3 | | | | | | | Contract
Dayrate | | Estimated | | Estimated | | | | | Planned
Downtime 4 | | | |
Rig Name | | (feet) | | | Type 2 | | Built | | Location | | | Operator | | (USD) | | Start Date | | End Date | | | Status | | 3Q16 E | | | 4Q16 E | | | Comments |
| Ocean Vanguard | | | 1,500 | | | SS 15K | | 1982 | | | UK | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean America | | | 5,500 | | | SS 15K | | 1988 | | | Malaysia | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Alliance | | | 5,250 | | | SS 15K DP | | 1988 | | | US GOM | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Onyx | | | 6,000 | | | SS 15K | | 2014 | | | US GOM | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Baroness | | | 8,000 | | | SS 15K | | 2002 | | | US GOM | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Rover | | | 8,000 | | | SS 15K | | 2003 | | | Malaysia | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Confidence | | | 10,000 | | | SS 15K DP | | 2001 | | | Canary Islands | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
| Ocean Endeavor | | | 10,000 | | | SS 15K | | 2007 | | | Italy | | | — | | — | | — | | | — | | | Stacked | | | | | | | | | | |
RETIRED | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Ocean Star | | | 5,500 | | | SS 15K | | 1997 | | | US GOM | | | — | | — | | — | | | — | | | | | | | | | | | | | |
| Ocean Quest | | | 4,000 | | | SS 15K | | 1973 | | | Malaysia | | | — | | — | | — | | | — | | | | | | | | | | | | | |
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 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, 95% for conventionally moored rigs, and 97% 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 |
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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.
