NYSE: RIG 4.61 0.41 9.76% 6:30 P.M. ET
Share Page Print Page
Back to all news articles

Transocean Ltd. Provides Fleet Status Report

July 18, 2012

ZUG, SWITZERLAND, Jul 18, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a comprehensiveFleet Status Report which provides current status and contractinformation for the company's entire fleet of offshore drilling rigs.Since the June update, backlog associated with new contracts orextensions is approximately $1.5 billion and 2012 estimated out ofservice 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 planned2013 out of service time. The estimated 2,657 days (impacting 50rigs) comprises 824 days (31%) for High-Specification Floaters, 872days (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%) forHigh-Specification Floaters, 717 days (18%) for Midwater Floaters,and 2,002 days (51%) for Jackups. Included in the 2013 forecast, thecompany anticipates performing extensive well control equipment workscope 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 orexceptional shipyards to significantly increase estimates of out ofservice time. Since the company cannot predict such shipyards, theyare not included in the Fleet Status Report.

The fleet update summary can be accessed at www.deepwater.com byclicking on the Fleet Status Report link found in the toolbar.

Forward-Looking Statements

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.

About Transocean

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, 10 High-Specification Jackups,43 Standard Jackups and one swamp barge. In addition, we have twoUltra-Deepwater Drillships and three 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, andbelieves that it operates one of the most versatile offshore drillingfleets in the world.

For more information about Transocean, please visit the website atwww.deepwater.com.

SOURCE: Transocean Ltd.