Transocean Ltd. Provides Fleet Status Report
ZUG, SWITZERLAND, Apr. 18, 2013--Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a comprehensive Fleet Status Report, which provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The value of new contracts or extensions since the March 14, 2013 fleet update summary is approximately $1.2 billion.
The newbuild, ultra-deepwater drillship, Deepwater Asgard, was awarded a three-year contract with a major integrated international oil company for work offshore Indonesia at a dayrate of $600,000. The contract is expected to commence in the first quarter of 2014 following shipyard delivery and customer acceptance and will contribute an estimated backlog of $657 million, excluding mobilization. The Deepwater Asgard, currently under construction at the DSME shipyard in Korea, will be capable of operating in water depths up to 12,000 feet and drilling wells up to 40,000 feet deep. With this award, all of the company's newbuild rigs are under contract.
Highlights are as follows:
Cajun Express - Awarded a one-year contract for work offshore Morocco and Senegal. The dayrate for Morocco is $600,000 ($219 million estimated contract backlog). The rig's prior dayrate was $520,000.
Transocean Arctic - Customer exercised a five-well option for work in the Norwegian sector of the North Sea at a dayrate of $422,000 ($127 million contract backlog).
Transocean Prospect - Customer exercised a six-month option for work in the U.K. sector of the North Sea at a dayrate of $425,000 ($77 million contract backlog).
GSF Magellan - Awarded a one-year contract extension for work offshore Nigeria at a dayrate of $168,000 ($61 million contract backlog). The rig's prior dayrate was $160,000.
On March 26, 2013, the newbuild high-specification jackup, Transocean Siam Driller, commenced its five-year contract for work offshore Thailand.
Estimated 2013 out of service time decreased by a net 6 days.
The company sold the standard jackup, Interocean III, which was previously held for sale. The details of the transaction have not been disclosed.
The report can be accessed at www.deepwater.com by clicking on the Fleet Status Report link found in the toolbar.
The statements described in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements which could be made include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out of service time, and sales of drilling units. 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, including those discussed in the company's most recent Form 10-K for the year ended December 31, 2012 and in the company's other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. Should one or more of these risks or uncertainties materialize (or the other consequences of such a development worsen), or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to the company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company's web site at www.deepwater.com.
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, 83 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters and 10 High-Specification Jackups. In addition, we have six Ultra-Deepwater Drillships and two High-Specification Jackups under construction.
For more information about Transocean, please visit the website www.deepwater.com.