Transocean Ltd. Provides Fleet Status Report
ZUG, SWITZERLAND, Apr 18, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued acomprehensive Fleet Status Report which provides current status andcontract information for the company's entire fleet of offshoredrilling rigs. Backlog associated with new contracts or extensionssince the fleet update summary in March 2012 is approximately $220million. Planned 2012 out of service time increased by a net 391days, which is expected to be incurred primarily in the secondquarter of 2012, and includes 306 days (78 percent) associated withpreparing 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 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,sales of drilling units, as well as any other statements that are nothistorical facts in the report, are forward-looking statements thatinvolve certain risks, uncertainties and assumptions. These includebut are not limited to operating hazards and delays, risks associatedwith international operations, actions by customers and other thirdparties, the future prices of oil and gas and other factors detailedin the company's most recent Form 10-K and other filings with theSecurities and Exchange Commission. Should one or more of these risksor uncertainties 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. We own or have partialownership interests in and operate a fleet of 129 mobile offshoredrilling units consisting of 50 High-Specification Floaters(Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersiblesand drillships), 25 Midwater Floaters, nine High-SpecificationJackups, 44 Standard Jackups and one swamp barge. In addition, wehave two Ultra-Deepwater Drillships and four High-SpecificationJackups under construction. The company 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.