2013-04-18 22:16:04 -
ZUG, SWITZERLAND-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a
comprehensive Fleet Status Report, which provides the current status and
contract information for the company's entire fleet of offshore drilling rigs.
The value of new contracts or extensions since the March 14, 2013 fleet update
summary is approximately $1.2 billion.
The newbuild, ultra-deepwater drillship, Deepwater Asgard, was awarded a three-
year contract with a major integrated international oil company for work
offshore Indonesia at a dayrate of $600,000. The contract is expected to
commence in the first quarter of 2014 following shipyard delivery and customer
acceptance and will contribute an estimated backlog of $657 million, excluding
mobilization. The Deepwater Asgard, currently under construction at the DSME
shipyard in Korea, will be capable of operating in water depths up to 12,000
drilling wells up to 40,000 feet deep. With this award, all of the
company's newbuild rigs are under contract.
Highlights are as follows:
* Cajun Express - Awarded a one-year contract for work offshore Morocco and
Senegal. The dayrate for Morocco is $600,000 ($219 million estimated
contract backlog). The rig's prior dayrate was $520,000.
* Transocean Arctic - Customer exercised a five-well option for work in the
Norwegian sector of the North Sea at a dayrate of $422,000 ($127 million
* Transocean Prospect - Customer exercised a six-month option for work in the
U.K. sector of the North Sea at a dayrate of $425,000 ($77 million contract
* GSF Magellan - Awarded a one-year contract extension for work offshore
Nigeria at a dayrate of $168,000 ($61 million contract backlog). The rig's
prior dayrate was $160,000.
* On March 26, 2013, the newbuild high-specification jackup, Transocean Siam
Driller, commenced its five-year contract for work offshore Thailand.
* Estimated 2013 out of service time decreased by a net 6 days.
* The company sold the standard jackup, Interocean III, which was previously
held for sale. The details of the transaction have not been disclosed.
The report can be accessed at www.deepwater.com by clicking on the Fleet Status
Report link found in the toolbar.
The statements described in this press release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-
looking statements which could be made include, but are not limited to,
estimated duration of customer contracts, contract dayrate amounts, future
contract commencement dates and locations, planned shipyard projects and other
out of service time, and sales of drilling units. 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, including those discussed in the company's most
recent Form 10-K for the year ended December 31, 2012 and in the company's other
filings with the SEC, which are available free of charge on the SEC's website at
www.sec.gov. Should one or more of these risks or uncertainties materialize (or
the other consequences of such a development worsen), or should underlying
assumptions prove incorrect, actual results may vary materially from those
indicated or expressed or implied by such forward-looking statements. All
subsequent written and oral forward-looking statements attributable to the
company or to persons acting on our behalf are expressly qualified in their
entirety by reference to these risks and uncertainties. You should not place
undue reliance on forward-looking statements. Each forward-looking statement
speaks only as of the date of the particular statement, and we undertake no
obligation to publicly update or revise any forward-looking statements. All non-
GAAP financial measure reconciliations to the most comparative GAAP measure are
displayed in quantitative schedules on the company's web site at
Transocean is a leading international provider of offshore contract drilling
services for oil and gas wells. 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.
Transocean owns or has partial ownership interests in, and operates a fleet of,
83 mobile offshore drilling units consisting of 48 High-Specification Floaters
(Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater
Floaters and 10 High-Specification Jackups. In addition, we have six Ultra-
Deepwater Drillships and two High-Specification Jackups under construction.
For more information about Transocean, please visit the website
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Source: Transocean Ltd via Thomson Reuters ONE