Transocean Ltd. Provides Fleet Update Summary
ZUG, SWITZERLAND, Mar 15, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleetupdate summary which includes newly signed contracts, significantchanges to existing contracts, and changes in estimated planned outof service time of 15 days or longer for all rig classificationssince the previously issued comprehensive fleet status report orfleet update summary. Significant highlights include the following:
-- Deepwater Expedition - Awarded a two-year contract with an undisclosed customer commencing December 2012 at an initial dayrate of $650,000 ($475 million contract backlog). Additionally, the contract includes three priced eight-month option periods.-- Discoverer Seven Seas - Awarded a three-well contract (approximately 180 days) for work offshore Indonesia at a dayrate of $445,000 ($80 million contract backlog). The rig's prior dayrate was $295,000.-- GSF Arctic III - Awarded a three-month contract extension in the U.K. sector of the North Sea at a dayrate of $315,000 ($28 million contract backlog). The rig's prior dayrate was $280,000.-- Planned 2012 out of service time increased by a net 284 days, including 140 days associated with preparing the Deepwater Expedition, Discoverer Seven Seas, and Trident XIV for new or anticipated contracts.-- As previously disclosed, the Deepwater Millennium and the GSF Grand Banks shipyards were completed and the rigs are currently operating. In addition, since the previous fleet update summary, the GSF Rig 140 has left the shipyard and is en route to India.
The fleet update summary can be accessed at www.deepwater.com byclicking 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 andlocations, planned shipyard projects and other out of service time,as well as any other statements that are not historical facts in thereport, are forward-looking statements that involve certain risks,uncertainties and assumptions. These include but are not limited tooperating hazards and delays, risks associated with internationaloperations, actions by customers and other third parties, the futureprices of oil and gas and other factors detailed in the company'smost recent Form 10-K and other filings with the Securities andExchange Commission. Should one or more of these risks oruncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from those indicated.
Transocean is a leading international provider of offshore contractdrilling services for oil and gas wells. Transocean owns or haspartial ownership interests in and operates a fleet of 132 mobileoffshore drilling units consisting of 50 High-Specification Floaters(Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersiblesand drillships), 25 Midwater Floaters, nine High-SpecificationJackups, 47 Standard Jackups and one swamp barge. In addition, wehave two Ultra-Deepwater Drillships and four High-SpecificationJackups under construction. Transocean specializes in technicallydemanding sectors of the global offshore drilling business with aparticular focus on deepwater and harsh environment drillingservices. We believe we operate one of the most versatile offshoredrilling fleets in the world.
For more information about Transocean, please visit the website atwww.deepwater.com.
SOURCE: Transocean Ltd.