EX-99.2 3 ex-99d2.htm EX-99.2 pacd_Ex99_2_FSR

Exhibit 99.2

 

Picture 3

FLEET STATUS REPORT

NYSE: PACD

 

 

As of August 13, 2019

Updates noted in bold and blue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contractual

 

 

 

 

 

 

 

 

 

 

Start/

 

Estimated

 

Dayrate

 

 

Rig Name

 

Delivery

 

Client

 

Location

 

Estimated Start

 

Expiration

 

(US$000's)

 

Comments

Pacific Bora

 

2010 

 

 

Ghana

 

 

 

 

Hot Stacked.

Pacific Mistral

 

2011 

 

 

Las Palmas

 

 

 

 

Smart Stacked.

Pacific Scirocco

 

2011 

 

 

Las Palmas

 

 

 

 

Smart Stacked.

Pacific Santa Ana

 

2011 

 

Total

 

Mauritania

 

August 2019

 

September 2019

 

Not disclosed

 

One well.

 

 

 

 

Petronas

 

Mauritania

 

November 2019

 

October 2020

 

296

 

Dayrate includes an integrated services package provided as part of the plug and abandonment project.

 

 

 

 

Total

 

Senegal/Mauritania

 

 

 

Not disclosed

 

Two one-well options (each well estimated at approximately 60 days of work) whose commencement would follow contract with Petronas.

Pacific Khamsin

 

2013 

 

 

USGoM

 

 

 

 

Rig undergoing preparations for contract.

 

 

 

 

Equinor

 

USGoM

 

November 2019

 

February 2020

 

227 (2)

 

Contract to operate in USGOM for two firm wells with two remaining option wells at escalating dayrates.  

 

 

 

 

Total

 

USGoM

 

March 2020

 

July 2020

 

252 (3)

 

Assigned to Total for Equinor’s second firm well.

Pacific Sharav

 

2014 

 

Chevron

 

USGoM

 

August 2014

 

August 2019

 

551

 

 

 

 

 

 

Chevron

 

USGoM

 

September 2019

 

January 2020

 

175

 

Extension for one firm well and three additional option wells at escalating dayrates.

Pacific Meltem

 

2014 

 

 

Las Palmas

 

 

 

 

Smart Stacked.

 

 

 (1) Contract start and expiration dates do not include option periods.   

 (2)  Base dayrate of $175,000 plus $52,000 for managed pressure drilling device and controls (“MPD”) and integrated services package provided as part of the contract.

 (3)  Base dayrate of $185,000 plus $67,000 for MPD and integrated services package provided as part of the contract.

 

 

Picture 5

 

Page 1 of 2

 

 

 

 

 

Picture 1

FLEET STATUS REPORT

NYSE: PACD

 

As of August 13, 2019

 

Forward Looking Statements: Certain statements and information contained in this Fleet Status Report constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are generally identifiable by their use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “our ability to,” “may,”  “plan,” “potential,” “predict,” “project,” “projected,” “should,” “will,” “would”, or other similar words which are not generally historical in nature. The forward-looking statements speak only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Our forward-looking statements express our current expectations or forecasts of possible future results or events, including future financial and operational performance and cash balances; revenue efficiency levels; market outlook; forecasts of trends; future client contract opportunities; future contract dayrates; our business strategies and plans or objectives of management; estimated duration of client contracts; backlog; expected capital expenditures; projected costs and savings; and the potential impact of our completed Chapter 11 proceedings on our future operations and ability to finance our business.

Although we believe that the assumptions and expectations reflected in our forward-looking statements are reasonable and made in good faith, these statements are not guarantees, and actual future results may differ materially due to a variety of factors. These statements are subject to a number of risks and uncertainties and are based on a number of judgments and assumptions as of the date such statements are made about future events, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in such statements due to a variety of factors, including if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect.

Important factors that could cause actual results to differ materially from our expectations include: the global oil and gas market and its impact on demand for our services; the offshore drilling market, including reduced capital expenditures by our clients; changes in worldwide oil and gas supply and demand; rig availability and supply and demand for high-specification drillships and other drilling rigs competing with our fleet; costs related to stacking of rigs; our ability to enter into and negotiate favorable terms for new drilling contracts or extensions; our ability to successfully negotiate and consummate definitive contracts and satisfy other customary conditions with respect to letters of intent and letters of award that we receive for our drillships; possible cancellation, renegotiation, termination or suspension of drilling contracts as a result of mechanical difficulties, performance, market changes or other reasons; our ability to execute our business plans; the effects of our completed Chapter 11 proceedings on our future operations; and the other risk factors described under the heading “Risk Factors” in our 2018 Annual Report on Form 20-F and our Current Reports on Form 6-K. These documents are available through our website at www.pacificdrilling.com or through the SEC’s website at www.sec.gov.

 

Picture 5

 

Page 2 of 2