Jackup海上平台的建造运输过程

UHBAUERCOLLEGEOFBUSINESS:MARCH30,2006PRESENTATIONRowanCompanies,Inc.JohnBuvens,GeneralCounselTedGobillot,AssociateGeneralCounsel,Emma,Lindsay,Joe,OverviewofRowanCompanies,Inc.EmergingTrendsintheOffshoreDrillingIndustryHowisanoffshorewelldrilled?Oilco/DrillcoRelationship:Whoprovideswhat?Risks:Whatcanhappen?Whatisanindemnityagreement?Howdothepartiesallocaterisk?,OverviewofRowanCompanies,Inc.Foundedin1923byArchandCharlieRowanTwounits:DrillingandManufacturingTotalworkforce:4,500+employeesHQatWilliamsTower(ex-TranscoTower)OnNYSEandpublicly-ownedsince19672005:Revenueofover$1B;$4.5Bmarketcap,DRILLINGDIVISIONHQinHouston;operationsonshoreinTexas,Louisiana,MississippiandOklahoma;offshoreintheU.S.GOM,eastcoastofCanada,NorthSea,PersianGulfandTrinidad20offshorerigs;17landrigsAccountsfor75%ofRCIsrevenue,LandRigLocatorMap,LandRigLocatorMap,TEXAS,LOUISIANA,MISS,LR-34,LR-54,LR-53,LR-14,LR-52,LR-15,LR-33,LR-9,29,35,LR-26,30,31,51,LR-18,LR-41,9-Texas7-Louisiana1-Oklahoma,17LandRigsOperatingCurrently100%Utilized,CurrentAverageWellDepth:15,980ft.,LR-12,MANUFACTURINGDIVISION,Acquisitions:LeTourneau(1994),EllisWilliams(1999),OEM(2001)HQinLongview,TX;manufacturingfacilitiesinVicksburg,MSandHouston,TXManufacturesjack-uprigs,landrigsandrigcomponentparts,equipmentforthetimberandminingindustriesAccountsfor25%ofRCIsrevenues,LeTourneauProducts,WorldsLargestFront-EndLoader,3000HPMudPump,Drawworks,RotaryTable,ManufacturingDivision,ROWANSRIGCONSTRUCTIONPROGRAMLargeFixedCapitalInvestmentPurchaseLeTourneauRestoreVicksburg,MSFacilityHireandTrainWorkersRigConstructionCost:$180-$500MillionOngoingMaintenanceandLaborCostVolatileRevenueStreamDayratesTrackCommodityPricesBoom-and-BustBusinessGorillaVExperience,WorldwideJack-upNewbuildsandAttrition1950-2005,Additionstothefleet,Attrition,Source:ODS-Petrodata,AverageAgeofRetiredRigs:30yearsNumberofRetiredRigsperyear(20-yearaverage):6rigs,ScheduledConstruction/OnOrder,2009,55RigsUnderConstruction2006-102007202008-202009-5,LandDayrateHistory1998-2005,$17,242,DayratesthroughMarch27,2006,CurrentAverageDayrate$22,559,CONSTRUCTIONOFTHEHANKBOSWELL:DECEMBER2004,March2005,June2005,August2005,September2005,October2005,November2005,December2005,January2006,February2006,March2006,FollowingConstruction,RigWalksintoMississippiRiver,RigTravelsDownMississippiRiver,RigCrossesUnderFourBridgesEnRoutetoU.S.GOM,BobPalmer(2003)vs.Rowan-Texas(1973),UnderTowToLocation,JackedUponOpenLocation,JackeduponLocationandCantileveredoutoverPlatform,Heavy-LiftRigHauler,RigFloatsOntoSubmergedDeck,Single-RigDryTow,Double-RigDryTow,TransportofRigsOverseas,Triple-RigDryTow,RowanFleetMigratestoSaudiArabia,35,000Tons12,300miles60days,SharjahRoads,JackedupinHalifaxHarbor,NovaScotia,Canada,EmergingTrendsintheOffshoreDrillingIndustryCurrentStatusGlobalSupplyandDemandSaudiArabiaasswingproducerDecliningProductioninGOMTheMoratoriumTheStakeholdersinGOMExtendingLifeofGOMEvolvingTechnologyDeepShelfandDeepWaterRoyaltyReliefbyMMSEmergenceofLiquifiedNaturalGasLawoftheSeaTreatyFalloutfromHurricanesKatrinaandRita,E.Canada:100%,Cproductionshut-informonthsDrillingRigs:6damagedNooneinjuredorkilledduetoevacuations,HurricaneIvan:September2004,HurricaneKatrina2005,PathofRita,PathofKatrina,HurricaneDamage,RefineryDamageinPascagoula,MS,AviationBaseinVenice,LA,MarinefacilityinFourchon,LA,ShellMarsPlatform,Before,After,ChevronTyphoonPlatform,Before,After,DiamondOceanWarwick,GSFAdriaticVII,GlobalSantaFeHighIslandIII,NOBLETHERALDMARTINOFFCOASTLOUISIANA,RIGDRIFTED125MILESDRAGGING6ANCHORSBEFOREBEACHINGITSELFINVERMILLION,Before,After,ROWANSLOSSESRowan-NewOrleans(capsizedandfound)Rowan-Halifax(capsizedandfound)Rowan-Odessa(capsizedandfound)Rowan-FortWorth(capsizedandnotfound)Rowan-Louisiana(beachedanddestroyed),This10-tonanchorwasrackedontheexteriorofthehull50feetabovetheseabeforethestorm,Ex-PresidentClintonhardatworkonarescuemission,HurricanesKatrina/RitaScorecard,Platforms:167destroyedordamagedDrillingRigs:8destroyed;22extensivelydamaged;19knockedoffstationandadriftPipelinesandRefineries:extensivedamageNooneinjuredorkilledinoffshoreindustryFallout:(1)tightrigsupplyandpriceincreases(2)increaseinoilandgasprices(3)governmentintervention(4)increaseininsurancecosts,Source:ODS-Petrodata,Katrina/RitaFallout:DayrateIncreases,Katrina/RitaFallout:Insurance,BigLosses:HurricaneKatrinaresultsinthelargestinsuredlossinhistory.HurricaneRitaisthemostdevastatingstormtohittheoffshoredrillingindustryandparticularlyRowan.HigherPremiums:ThelossesduetoHurricanesKatrinaandRitahascausedanincreaseofbetween300%and500%ininsurancepremiums.LessCoverage:Insurersarerequiringdrillerstoacceptmoreriskintheformofhigherdeductiblesandmaximumaggregatewindstormcoverages.,POTENTIALDAMAGES,InjuryanddeathtoOilcosandDrillcospersonnelDamagetoOilcospropertyDamagetoDrillcosrigThird-partydamage(beaches,fishermen,reefs,oysterbeds,adjacentpipelinesandreservoirs)LossordamagetotheholeWellcontrolcostsPollutioncontrolcostsReservoirlossordamageDebrisremoval,IndemnityAgreementsFollowinganaccident,managementhasthreequestions:,Whathappened?Whatdoesthecontractsay?Dowehaveinsurance?,Whatisanindemnityagreement?,Americansystemofliabilityisfault-basedContract-basedallocationvs.fault-basedallocationIndemnityagreementisonlyasgoodasthefinancialresourcesofpartywhogivesitandthatpartysinsurerPreparemanagementforthepossibilityofaharshresultIfused,theindemnifyingparty,itsinsurersandeventuallythecourtswillcloselyscrutinizetheindemnityagreementCarefullyread,reviewandre-reviewindemnitylanguageKnowthelaw,WHYALLOCATERISK?,Tailorrisktoinsurancecoverage,butyoushouldprotectyourcoverage,loss-historyandinsurerAvoidinsuringthesamerisktwicePossibilityofacquiringinsuranceforanassumedbutuninsuredriskPreservecustomerrelationshipsAvoidcompany-breakingrisksAvoidbiasedcourtsandunpredictablejuryverdictsAvoidlitigationexpensesMarketconditionsmaydictateriskallocationTakeadvantageofunsuspectingpartyAssumerisksthatyoucancontrolthroughoperationsandavoidrisksthatyoucannotcontrolAllocationofriskshouldreflectvalueofcontractedservices,RiskAllocationinOffshoreDrillingContracts,A.InjuryandDeath,IndustryNorm:knock-for-knockOilcosIndemnity:OilcoshallberesponsibleforandholdharmlessandindemnifytheDrillcoGroupfromandagainstallclaims,demandsandcausesofactionofeverykindandcharacteronaccountofinjury,illnessordeathofOilcosemployees,subcontractorsorinvitees.DrillcosIndemnity:DrillcoshallberesponsibleforandholdharmlessandindemnifytheOilcoGroupfromandaginstallclaims,demandsandcausesofacitonofeverykindandcharacteronaccountofinjury,illnessordeathofDrillcosemployees,subcontractorsorinvitees.DrillcoassumesvastmajorityofpersonalinjuryriskbecauseDrillcohasmorepersonnelonrig.,A.InjuryandDeath:Knock-for-knockB.PropertyDamage,IndustryNorm:Qualifiedknock-for-knockOilcosIndemnity:OilcoshallberesponsibleforandholdharmlessandindemnifytheDrillcoGroupfromandagainstdamagetoorlossofthepropertyandequipmentofOilco,itsparent,subsidiaryandaffiliatedcompanies,itspartnersandco-venturers,andtheirrespectivesubcontractors.DrillcosIndemnity:DrillcoshallberesponsibleforandholdharmlessandindemnifytheOilcoGroupfromandagainstdamagetoorlossofthepropertyandequipmentofDrillco,itsparent,subsidiaryandaffiliatedcompanies,andtheirrespectivesubcontractors;provided,however,thatOilcoshallreimburseDrillco75%oftherepairorreplacementcostfordamagetoorlossofanydrillpipe,drillcollarsorotherin-holeequipmentwhensuchequipmentisbeingusedintheholebelowtherotarytable.,A.InjuryandDeath:Knock-for-knockB.PropertyDamage:Qualifiedknock-for-knockC.Third-partydamage,IndustryNorm:Notaddressedincontractsoliabilityisallocatedonafaultbasis,A.InjuryandDeath:Knock-for-knockB.PropertyDamage:Qualifiedknock-for-knockThird-partydamage:Fault-basedLossofHole,IndustryNorm:Oilcoassumesriskwithafault-basedredrillingdiscountIndemnity:IntheeventoflossordamagetotheholeOilcoshallberesponsibleforandholdharmlessandindemnifytheDrillcoGroupfromsuchdamagetoorlossofthehole;providedthatintheeventsuchlossordamageiscausedbyDrillcosgrossnegligenceorwillfulmisconduct,DrillcoshalluponOilcosrequestandasOilcosexclusiveremedyforsuchlossordamage,repairthedamagedportionorredrilltothedepthatwhichthelossordamageoccurredat85%ofthedayrate.,A.InjuryandDeath:Knock-for-knockB.PropertyDamage:Qualifiedknock-for-knockThird-partydamage:Fault-basedLossofHole:OilcoassumesWellControlCosts,IndustryNorm:OilcoassumesriskIndemnity:OilcoshallberesponsibleforandholdharmlessandindemnifytheDrillcoGroupforthecostofregainingcontrolofanywildwell.,A.InjuryandDeath:Knock-for-knockB.PropertyDamage:Qualifiedknock-for-knockThird-partydamage:Fault-basedLossofHole:OilcoassumesWellControlCosts:OilcoassumesReservoirLossorDamage,IndustryNorm:OilcoassumesriskwithoutqualificationIndemnity:OilcoshallberesponsibleforandholdharmlessandindemnifytheDrillcoGroupfromandagainstallclaimsonaccountofinjuryto,destructionof,orlossorimpairmentofanypropertyrightinortooil,gasorothermineralsubstanceandforanylossordamagetoanyformation,strataorreservoirbeneaththeseabed.,A.InjuryandDeath:Knock-for-knockB.PropertyDamage:Qualifiedknock-for-knockC.Third-partydamage:Fault-basedD.LossofHole:OilcoassumesE.WellControlCosts:OilcoassumesF.ReservoirLossorDamage:OilcoassumesG.Pollution,IndustryNorm:Drillcoassumespollutionemanatingfromrig,andOilcoassumeswellborepollutionwithqualification.DrillcosIndemnity:DrillcoshallberesponsibleforandholdharmlessandindemnifytheOilcoGroupforcontrolandremovalofpollutionorcontaminationwhichoriginatesabovethesurfaceofthewaterfromspillsoffuels,lubricants,motoroils,paints,solventsandgarbagewhollyinContractorspossessionandcontrolanddirectlyassociatedwithContractorsequipmentandfacilities.OilcosIndemnity:OilcoshallberesponsibleforandholdharmlessandindemnifytheDrillcoGroupforcontrolandremovalofallpollutionorcontaminationotherthanthatassumedby