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related topics |
{cost, contract, operation} |
{operation, natural, condition} |
{tax, income, asset} |
{cost, regulation, environmental} |
{operation, international, foreign} |
{gas, price, oil} |
{customer, product, revenue} |
{debt, indebtedness, cash} |
{condition, economic, financial} |
{personnel, key, retain} |
{competitive, industry, competition} |
{stock, price, share} |
{financial, litigation, operation} |
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The continuing global financial crisis and worldwide economic downturn has had, and may continue to have, a negative impact on our business and financial condition.
Our industry is highly competitive and cyclical, with intense price competition.
We can provide no assurance that our current backlog of contract drilling revenue will be ultimately realized.
We rely heavily on a relatively small number of customers and the loss of a significant customer and/or a dispute that leads to the loss of a customer could have a material adverse impact on our financial results.
The terms of our drilling contracts may limit our ability to attain profitability in a declining market or to benefit from increasing dayrates in an improving market.
Contracts for our drilling units are generally fixed dayrate contracts, and increases in our operating costs could adversely affect our profitability on those contracts.
Our drilling contracts may be terminated due to events beyond our control.
Our business involves numerous operating hazards, and we are not fully insured against all of them.
We have elected to self-insure for physical damage to rigs and equipment caused by named windstorms in the U.S. Gulf of Mexico.
A significant portion of our operations are conducted outside the United States and involve additional risks not associated with domestic operations.
Our drilling contracts offshore Mexico expose us to greater risks than we normally assume.
Fluctuations in exchange rates and nonconvertibility of currencies could result in losses to us.
Changes in laws, effective income tax rates or adverse outcomes resulting from examination of our tax returns could adversely affect our financial results.
We may be required to accrue additional tax liability on certain of our foreign earnings.
Future acts of terrorism and other political and military events could adversely affect the markets for our drilling services.
Public health threats could have a material adverse effect on our operations and financial results
We may be subject to litigation that could have an adverse effect on us.
Governmental laws and regulations may add to our costs or limit our drilling activity.
Compliance with or breach of environmental laws can be costly and could limit our operations.
Failure to obtain and retain highly skilled personnel could hurt our operations.
Although we have paid special cash dividends in the past, we may not pay special cash dividends in the future and we can give no assurance as to the amount or timing of the payment of any future special cash dividends.
Rig conversions, upgrades or new-builds may be subject to delays and cost overruns.
Our debt levels may limit our liquidity and flexibility in obtaining additional financing and in pursuing other business opportunities.
Full 10-K form ▸
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