Transocean Ltd. Provides Fleet Status Report
ZUG, SWITZERLAND, Jul 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. Since the June update, backlog associated with new contracts or extensions is approximately $1.5 billion and 2012 estimated out of service time increased by a net 16 days.
Highlights are as follows:
-- Discoverer Deep Seas - Awarded a three-year contract for work in the U.S. Gulf of Mexico at a dayrate of $595,000 ($652 million contract backlog). The rig's prior contract dayrate was $450,000. -- GSF Arctic III - Awarded a 17-well contract for work in the U.K. sector of the North Sea at a dayrate of $313,000 ($205 million contract backlog), consistent with the rig's recently-signed, three-month prior contract. -- GSF Jack Ryan - Customer exercised a one-year option for work offshore Nigeria at a dayrate of $425,000 ($155 million contract backlog). -- Transocean Marianas - Awarded a 280-day contract for work offshore Namibia at a dayrate of $530,000 ($148 million contract backlog). The rig's prior dayrate was $450,000. -- Transocean Searcher - Customer exercised a one-year option in the Norway North Sea at a dayrate of $386,000 ($141 million contract backlog). -- Trident 15 - Awarded a two-year contract extension for work offshore Thailand at a dayrate of $139,000 ($101 million contract backlog). The rig's prior dayrate was $100,000. -- GSF Rig 103 is currently held for sale. The rig was previously stacked.
This report also contains the company's initial forecast of planned 2013 out of service time. The estimated 2,657 days (impacting 50 rigs) comprises 824 days (31%) for High-Specification Floaters, 872 days (33%) for Midwater Floaters, and 961 days (36%) for Jackups. This compares with estimated 2012 out of service time of 3,931 days (impacting 58 rigs) consisting of 1,212 days (31%) for High-Specification Floaters, 717 days (18%) for Midwater Floaters, and 2,002 days (51%) for Jackups. Included in the 2013 forecast, the company anticipates performing extensive well control equipment work scope on 12 floaters.
These estimates are subject to change due to a variety of factors, including changes in business plans as well as customers' requirements and new contracts. It is not uncommon for unplanned or exceptional shipyards to significantly increase estimates of out of service time. Since the company cannot predict such shipyards, they are not included in the Fleet Status Report.
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 129 mobile offshore drilling units consisting of 50 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.