Currently, Scorpion Offshore has six jackups working for various operators around the world. The extension of the Offshore Defender’s contract increases the company’s backlog to $771 million as of August 31, 2009 and brings the percentage of days contracted to 70% and 67% for calendar years 2010 and 2011 respectively. On average, this represents contract coverage in excess of two years per rig at dayrates around $170,000. The company’s seventh jackup, the Offshore Mischief, is under construction in Sharjah, U.A.E. and is currently being marketed for sale.
