SEC Filing | Diamond Offshore Drilling Inc.

View:

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): July 7, 2004 --------------------------- Diamond Offshore Drilling, Inc. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware 1-13926 76-0321760 - -------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 15415 Katy Freeway Houston, Texas 77094 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices and Zip Code) Registrant's telephone number, including area code: (281) 492-5300 ---------------------------- Not Applicable - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report)

INFORMATION TO BE INCLUDED IN THE REPORT Item 7. Financial Statements, Pro Forma Financial Information and Exhibits ------------------------------------------------------------------ (c) Exhibits. Exhibit number Description -------------- ----------- 99.1 Rig Status Report as of July 7, 2004 Item 9. Regulation FD Disclosure The Registrant hereby incorporates by reference into this Item 9 the summary report of the status, as of July 7, 2004, of the offshore drilling rigs of the Registrant attached as Exhibit 99.1, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be filed. Statements in this report that contain "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, include, but are not limited to, statements regarding the current term, start and end dates and comments concerning future contracts and availability and other aspects of the Registrant's drilling rigs. Such statements are inherently subject to a variety of 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 Registrant's overall business and financial performance can be found in the Registrant's reports and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, 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 Registrant'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 Registrant undertakes no obligation to publicly update or revise any forward-looking statements. 2

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIAMOND OFFSHORE DRILLING, INC. By: /s/ William C. Long ------------------------------------- William C. Long Vice President, General Counsel & Secretary Dated: July 7, 2004 3

EXHIBIT INDEX Exhibit number Description -------------- ----------- 99.1 Rig Status Report as of July 7, 2004 4

EXHIBIT 99.1 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JULY 6, 2004 Rig Name WD Design Location Status* Operator - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Quest 3,500' Victory Class GOM Contracted SDC/Pogo - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee - ------------------------------------------------------------------------------------------------------------------------------------ Ocean America 5,500' Ocean Odyssey GOM Contracted Mariner - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Valiant 5,500' Ocean Odyssey GOM Contracted ENI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Victory 5,500' Victory Class GOM Idle DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Confidence 7,500' DP Aker H-3.2 GOM Contracted BP Modified - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Concord 2,200' F&G SS-2000 GOM Idle DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Lexington 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC JACKUPS (11) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Crusader 200' Mat Cantilever GOM Contracted Stone Energy - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Drake 200' Mat Cantilever GOM Contracted ADTI/CMI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Champion 250' Mat Slot GOM Idle DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Columbia 250' Independent Leg GOM Contracted Kerr-McGee Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Spartan 300' Independent Leg GOM Contracted LLOG Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Spur 300' Independent Leg GOM Contracted Houston Exploration Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean King 300' Independent Leg GOM Contracted SDC/Devon Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Nugget 300' Independent Leg GOM Standby DODI Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Summit 300' Independent Leg GOM Contracted LLOG Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Warwick 300' Independent Leg GOM Contracted Kerr-McGee Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Titan 350' Independent Leg GOM Contracted Stone Energy Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Tower 350' Independent Leg GOM Contracted EOG Resources Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ 1

- ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL SEMISUBMERSIBLES (17) - ------------------------------------------------------------------------------------------------------------------------------------ MEXICO - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Whittington 1,500' Aker H-3 GOM Contracted PEMEX - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Worker 3,500' F&G 9500 Enhanced GOM Contracted PEMEX Pacesetter - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX - ------------------------------------------------------------------------------------------------------------------------------------ AFRICA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Nomad 1,200' Aker H-3 Gabon Contracted Vaalco/SASOL - ------------------------------------------------------------------------------------------------------------------------------------ NORTH SEA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Guardian 1,500' Earl & Wright Sedco North Sea Contracted Shell 711 Series - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted Talisman - ------------------------------------------------------------------------------------------------------------------------------------ AUSTRALASIA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Bounty 1,500' Victory Class New Zealand Contracted STOS - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Patriot 1,500' Bingo 3000 Under tow Mobe to Australia DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Epoch 1,640' Korkut Australia Contracted Santos - ------------------------------------------------------------------------------------------------------------------------------------ Ocean General 1,640' Korkut Vietnam Contracted PVE&P - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Baroness 7,000' Victory Class Indonesia Contracted Unocal - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Rover 7,000' Victory Class Malaysia Contracted Amerada Hess - ------------------------------------------------------------------------------------------------------------------------------------ 2

BRAZIL - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Yatzy 3,300' DP DYVI Super Yatzy Brazil Contracted Petrobras - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL DRILLSHIPS (1) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Clipper 7,500' DP Fluor/Mitsubishi Brazil Contracted Petrobras - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL JACKUPS (2) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Sovereign 250' Independent Leg Indonesia Contracted Amerada Hess Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Heritage 300' Independent Leg Ecuador Contracted Noble Energy Cantilever - ------------------------------------------------------------------------------------------------------------------------------------ COLD STACKED (5) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Liberator 600' Aker H-3 S. Africa Cold Stacked DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Endeavor 2,000' Victory Class GOM Cold Stacked DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Voyager 3,200' Victory Class GOM Cold Stacked DODI - ------------------------------------------------------------------------------------------------------------------------------------ Ocean New Era 1,500' Korkut GOM Cold Stacked DODI - ------------------------------------------------------------------------------------------------------------------------------------ NOTES: * Generally, rig utilization rates approach 95-98% during contracted periods; however, utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, weather conditions and other factors. GOM = Gulf of Mexico ** TABLE CONTINUED ** 3

Rig Name Current Term Dayrate (000s) Start Date - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Quest one well high 30's early July 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Star first of three wells plus low 60's early June 2004 option - ------------------------------------------------------------------------------------------------------------------------------------ Ocean America second of three wells plus mid 70's mid June 2004 option - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Valiant second of three wells plus high 50's late Dec. 2003 option - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Victory - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Confidence five-year term 170's early Jan. 2001 - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Concord - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Lexington one well plus option high 40's late March 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Saratoga one well extension plus low 40's late June 2004 option - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC JACKUPS (11) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Crusader second of two wells plus high 20's mid May 2004 option - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Drake one well plus option high 20's late June 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Champion - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Columbia one well low 30's late May 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Spartan one well low 30's mid May 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Spur one well high 30's late June 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean King one well plus option mid 30's mid May 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Nugget - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Summit three wells plus option mid 30's mid May 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Warwick one well mid 30's late June 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Titan second of two wells low 40's late March 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Tower one well plus option mid 30's late May 2004 - ------------------------------------------------------------------------------------------------------------------------------------ 1

- ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL SEMISUBMERSIBLES (17) - ------------------------------------------------------------------------------------------------------------------------------------ MEXICO - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Ambassador four year term work mid 50's late July 2003 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Whittington four year term work low 60's late July 2003 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Worker four year term work high 60's mid Aug. 2003 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Yorktown four year term work mid 40's late Oct. 2003 - ------------------------------------------------------------------------------------------------------------------------------------ AFRICA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Nomad first of three wells plus high 40's early May 2004 option - ------------------------------------------------------------------------------------------------------------------------------------ NORTH SEA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Guardian one year high 40's late March 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Princess second of two wells plus low 50's mid Feb. 2004 option - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Vanguard one well low 60's late June 2004 - ------------------------------------------------------------------------------------------------------------------------------------ AUSTRALASIA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Bounty one well plus option low 70's late May 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Patriot - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Epoch Exeter/Mutineer mid 60's mid Jan. 2004 development plus option - ------------------------------------------------------------------------------------------------------------------------------------ Ocean General five completion options mid 50's mid June 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Baroness 180 day option 110's late April 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Rover first of two wells plus 11 high 110's late June 2004 options - ------------------------------------------------------------------------------------------------------------------------------------ 2

BRAZIL - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Yatzy 700 day extension mid 70's early Nov. 2003 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Winner 700 day extension mid 50's early April 2004 - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Alliance four-year contract 110's early Sept. 2000 - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL DRILLSHIPS (1) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Clipper 700 day extension low 100's early Jan. 2003 - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL JACKUPS (2) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Sovereign two wells plus two option high 30's early April 2004 wells - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Heritage third of three wells plus mid 50's mid Feb. 2004 options - ------------------------------------------------------------------------------------------------------------------------------------ COLD STACKED (5) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Liberator - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Endeavor - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Voyager - - - - ------------------------------------------------------------------------------------------------------------------------------------ Ocean New Era - - - - ------------------------------------------------------------------------------------------------------------------------------------ NOTES: * Generally, rig utilization rates approach 95-98% during contracted periods; however, utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, weather conditions and other factors. GOM = Gulf of Mexico ** TABLE CONTINUED ** 3

Rig Name Est. End Date Future Contract and Other Information - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC DEEPWATER SEMISUBMERSIBLES (6) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Quest early Aug. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Star late Aug. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean America late Nov. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Valiant early Sept. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Victory - available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Confidence early Jan. 2006 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Concord - Approximately 120 days maintenance beginning early June and ending early Oct. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Lexington mid July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Saratoga early August 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ DOMESTIC JACKUPS (11) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Crusader mid July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Drake mid July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Champion - Reactivation from cold stack. Expected availability mid Aug. 2004. Actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Columbia mid July 2004 One option well with Kerr-McGee in mid 30's beginning mid July and ending mid Aug. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Spartan early July 2004 One well plus option with LLOG in mid 30's beginning early July and ending early Aug. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Spur late July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean King mid July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Nugget - available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Summit mid Aug. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Warwick late July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Titan early July 2004 Two wells plus option with Stone Energy in mid 40's beginning early July and ending mid Oct. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Tower mid July 2004 Option well declaired with EOG in high 30's beginning mid July and ending mid Sept. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ 1

- ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL SEMISUBMERSIBLES (17) - ------------------------------------------------------------------------------------------------------------------------------------ MEXICO - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Ambassador mid Dec. 2007 available. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Whittington early Oct. 2006 available. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Worker late July 2007 available. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Yorktown mid July 2007 available. - ------------------------------------------------------------------------------------------------------------------------------------ AFRICA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Nomad mid Sept. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ NORTH SEA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Guardian late March 2005 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Princess mid July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Vanguard mid Oct. 2004 LOI for for one well in Norway in low 140's beginning mid Oct. 2004 and ending late Dec. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ AUSTRALASIA - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Bounty mid July 2004 First option declared with NZOP in New Zealand in low 70's beginning in mid July and ending in mid Aug. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Patriot available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Epoch mid Nov. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean General early Nov. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Baroness early Nov. 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Rover late July 2004 Second well returns to Murphy in late July in upper 110's. First option well declared by Murphy beginning late Aug. in lower 120's, and ending late Sept. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ 2

BRAZIL - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Yatzy mid Oct. 2005 available. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Winner mid March 2006 available - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Alliance early Sept. 2004 available - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL DRILLSHIPS (1) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Clipper early March 2006 available. - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL JACKUPS (2) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Sovereign mid July 2004 available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Heritage late July 2004 One well extension declared in mid 50's beginning late July and ending mid Aug. 2004. Available; actively marketing. - ------------------------------------------------------------------------------------------------------------------------------------ COLD STACKED (5) - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Liberator - Cold stacked Nov. '02. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Endeavor - Cold stacked March '02. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean Voyager - Cold stacked March '02. - ------------------------------------------------------------------------------------------------------------------------------------ Ocean New Era - Cold stacked Dec. '02. - ------------------------------------------------------------------------------------------------------------------------------------ NOTES: * Generally, rig utilization rates approach 95-98% during contracted periods; however, utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, weather conditions and other factors. GOM = Gulf of Mexico ** TABLE COMPLETE ** 3