Transocean Ltd. Provides Fleet Update Summary
ZUG, SWITZERLAND, Feb. 14, 2013--Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days associated with continuing operations since January 17, 2013. The value of new contracts or extensions since the January 17, 2013 fleet status report is approximately $530 million.
Estimated 2013 out of service time increased by a net 136 days, including 90 days associated with rig maintenance on the Cajun Express and 75 days due to shipyard acceleration into 2013 from 2014 on the GSF Galaxy I.
Highlights are as follows:
Sedco 712 - Awarded a three-year contract for work in the U.K. sector of the North Sea at a dayrate of $380,000 ($416 million contract backlog).
Sedneth 701 - Customer exercised a one-year un-priced option for work offshore Nigeria at a dayrate of $311,000 ($114 million contract backlog).
GSF Explorer is currently idle.
A preliminary review of anticipated projects scheduled to commence in 2014 indicates approximately 2,131 days of scheduled out of service time for Transocean's fleet comprising approximately 1,534 days for High-Specification Floaters, 440 days for Midwater Floaters, and 157 days for High-Specification Jackups. The sequential increase in out of service days for the High Specification Floaters reflects, primarily, scheduled shipyards in conjunction with required maintenance and periodic surveys. An updated and more detailed view of out of service time by rig will be provided in the July fleet status report.
The report 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. 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.
Transocean owns or has partial ownership interests in, and operates a fleet of, 82 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters and nine High-Specification Jackups. In addition, we have six Ultra-Deepwater Drillships and three High-Specification Jackups under construction.
For more information about Transocean, please visit the website www.deepwater.com.