Transocean Ltd. Provides Fleet Status Report
ZUG, SWITZERLAND, Apr 18, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a comprehensive Fleet Status Report which provides current status and contract information for the company's entire fleet of offshore drilling rigs. Backlog associated with new contracts or extensions since the fleet update summary in March 2012 is approximately $220 million. Planned 2012 out of service time increased by a net 391 days, which is expected to be incurred primarily in the second quarter of 2012, and includes 306 days (78 percent) associated with preparing rigs for new or potential contracts.
Highlights are as follows:
-- GSF High Island VII - Awarded a one-year contract for work offshore Nigeria at a dayrate of $137,000 ($50 million contract backlog). The rig's prior dayrate was $125,000. -- GSF Adriatic IX - Awarded a one-year contract extension for work offshore Nigeria at a dayrate of $137,000 ($50 million contract backlog). The rig's prior dayrate was $100,000. -- GSF Galaxy I reactivation - Awarded a one-year contract for accommodation work in the U.K. sector of the North Sea at a dayrate of $133,000 ($48 million contract backlog). The rig was previously stacked. -- Transocean Prospect - Customer exercised a six-month option for work in the U.K. sector of the North Sea at a dayrate of $252,000 ($45 million contract backlog). The rig's prior dayrate was $246,000. -- GSF Key Hawaii - Customer exercised options, estimated at 200 days, for work offshore Vietnam at a dayrate of $131,000 ($26 million contract backlog). The rig's prior dayrate was $116,000. -- Consistent with the company's asset strategy, in 2012, the following stacked rigs have been sold: GSF Rig 136 and Transocean Shelf Explorer. Transaction details have not been disclosed. The Transocean Nordic, Roger W. Mowell, Trident 17 and GSF Adriatic II, all of which were stacked, are currently held for sale. -- Deepwater Expedition, GSF Galaxy I, C.E. Thornton, F.G. McClintock, Trident XIV and Transocean Rather are among the rigs preparing for new or potential contracts during 2012 planned out of service time. -- Well Control Recertification - The company has now obtained third party certification of well control equipment on 30 of its 63 active floaters, including 18 of its 27 ultra-deepwater rigs.
The fleet status report 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 129 mobile offshore drilling units consisting of 50 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 44 Standard Jackups and one swamp barge. In addition, we have two Ultra-Deepwater Drillships and four 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. We believe we operate 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.