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| Chiles Offshore LLC |
| 11200 Richmond Avenue, Suite 490, Houston, TX 77082 * (713) 339-3777 |
| Business Description | The Company operates three of the seven existing ultra-premium jackup drilling rigs, all of which currently operate in the U.S. Gulf of Mexico. The Company owns two of these rigs and operate the third under a bareboat charter. |
| Offering Information Company has | |||
| Trading As | COD (AMEX) | Industry | Natural Resource (SIC 1381) |
| Type of Stock Offered | Common Shares | Filing Date | 6/15/00 |
| Domestic Shares Offered | 7,800,000 | Offer Date | 9/18/00 |
| Foreign Shares Offered | 0 | Filing Range | $17.00 - $19.00 |
| Company Shares | 7,800,000 | Offer Price | $19.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.280 |
| Gross Proceeds | $148,200,000 | Selling | $0.760 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 16,231,257 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| ING Baring Furman Selz | Co-manager | (212) 309-8200 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Wasserstein Perella Securities | Co-manager | (212) 969-2611 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | 3/31/99 | 3/31/00 | ||
| Revenues | - | - | 0.000 | 0.000 | 7.651 | 0.000 | 8.346 |
| Income from Oper. | - | - | -0.382 | -0.823 | -0.585 | -0.205 | 2.803 |
| Net Income | - | - | -0.309 | 0.173 | -3.963 | 0.295 | -1.570 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | 33.58 | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | 1.93 | 0.58 | 0.93 | ||||
| Cash Flow - Inv. | -82.14 | -25.82 | -0.50 | ||||
| Cash Flow - Fin. | 1.89 | -0.19 | 4.56 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 203.96 | Current Assets | 10.02 | Current Ratio | 0.80 |
| Total Liab. | 129.55 | Current Liab. | 12.55 | Debt Ratio | 63.52% |
| Total Equity | 74.41 | Working Cap. | -2.54 | Debt to Equity Ratio | 1.74 |
| Cash | 4.25 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to purchase and retire all of our currently outstanding senior notes, and to fund a portion of the cost to further expand our fleet and for other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Weil, Gotshal & Manges |
| Bank's Law Firm | Andrews & Kurth |
| Registrar/Transfer Agent | Harris Trust & Savings Bank |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Seacor Smit Inc. | 55.40 | |
| Keppel Corporation Limited | 10.00 | |
| COI, LLC | 8.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||