Transocean Ltd. Provides Fleet Update Summary
ZUG, SWITZERLAND, Jun 14, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthlyfleet update summary which includes new contracts, significantchanges to existing contracts, and changes in estimated planned outof service time of 15 or more days since the May 17, 2012 update.Since the May update, backlog associated with new contracts orextensions is approximately $2.5 billion and planned 2012 out ofservice time decreased by a net 19 days.
Highlights are as follows:
-- Deepwater Nautilus - Awarded a five-year contract extension for work in the U.S. Gulf of Mexico at a dayrate of $525,000 ($958 million contract backlog). The rig's prior three-year contract dayrate was $551,000.-- Sedco 702 - Awarded a three-year contract extension at a dayrate of $461,000 ($505 million contract backlog). The rig's prior dayrate was $357,000.-- Paul B. Loyd, Jr. - The customer exercised an option at a dayrate of $345,000 and signed a follow-on 545-day contract for work in the U.K. sector of the North Sea at a dayrate of $440,000 ($281 million combined contract backlog).-- Sedco 704 - Awarded a two-year contract for work in the U.K. sector of the North Sea at a dayrate of $355,000 ($259 million contract backlog). The rig's prior dayrate was $280,000.-- Sedco 711 - Awarded a two-year contract extension for work in the U.K. sector of the North Sea at a dayrate of $350,000 ($256 million contract backlog). The rig's prior dayrate was $275,000.-- Trident XIV - Awarded a two-year contract for work offshore Angola at a dayrate of $116,000 ($85 million contract backlog). The rig's prior dayrate was $102,000.-- Effective May 31, 2012, the company owns 100 percent of the Dhirubhai Deepwater KG1 and Dhirubhai Deepwater KG2. Previously, the rigs were owned by a joint venture in which the company owned a 50 percent interest.-- The company has sold the GSF Adriatic II, which was previously held for sale. The details of the transaction have not been disclosed.
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,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 130 mobile offshoredrilling units consisting of 50 High-Specification Floaters(Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersiblesand drillships), 25 Midwater Floaters, 10 High-Specification Jackups,44 Standard Jackups and one swamp barge. In addition, we have twoUltra-Deepwater Drillships and four High-Specification Jackups underconstruction. The company specializes in technically demandingsectors of the global offshore drilling business with a particularfocus on deepwater and harsh environment drilling services. Webelieve we operate one of the most versatile offshore drilling fleetsin the world.
For more information about Transocean, please visit the website atwww.deepwater.com.
SOURCE: Transocean Ltd.