Transocean Ltd. Provides Fleet Update Summary
ZUG, SWITZERLAND -- (Marketwire) -- 08/15/12 -- Transocean Ltd. (RIG) (SIX: RIGN) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days since July 18, 2012. Backlog associated with new contracts or extensions since the July 18, 2012 fleet status report is approximately $600 million. Estimated out of service time for 2012 increased by a net 29 days; 2013 decreased by a net 61 days.
Highlights are as follows:
- Sedco 714 - Awarded a one-year contract extension for work in the U.K. sector of the North Sea at a dayrate of $395,000 ($144 million contract backlog). The rig's prior dayrate was $253,000.
- Transocean John Shaw - Awarded a one-year contract extension for work in the U.K. sector of the North Sea at a dayrate of $360,000 ($131 million contract backlog). The rig's prior dayrate was $318,000.
- Sedneth 701 - Awarded a one-year contract for work offshore Nigeria at a dayrate of $311,000 ($114 million contract backlog). The rig's prior contract dayrate was $275,000.
- GSF Key Manhattan - Awarded a two-year contract extension for work offshore Italy at a dayrate of $134,000 ($97 million contract backlog). The rig's prior dayrate was $137,000.
- GSF Galaxy II - Awarded a three-well contract extension for work in the U.K. sector of the North Sea at a dayrate of $210,000 for the first well and $220,000 per day for the remaining wells ($76 million contract backlog). The rig's prior contract dayrate was $190,000.
- Discoverer 534 is currently held for sale. The rig was previously stacked.
The fleet update summary can be accessed at www.deepwater.com by clicking on the Fleet Status Report link found in the toolbar.
Statements regarding the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out of service time, sales of drilling units, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. We own or have partial ownership interests in and operate a fleet of 128 mobile offshore drilling units consisting of 49 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, 10 High-Specification Jackups, 43 Standard Jackups and one swamp barge. In addition, we have two Ultra-Deepwater Drillships and three High-Specification Jackups under construction. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.
For more information about Transocean, please visit the website at www.deepwater.com.
Source: Transocean Ltd.