Transocean Inc. Names Two New Members to Its Board of Directors
HOUSTON--(BUSINESS WIRE)--Dec. 11, 2006--Transocean Inc.(NYSE:RIG) today announced that it has added two new members to itsBoard of Directors, effective December 7, 2006. Mark A. Hellersteinwas appointed as a Class III Director, and Michael E. McMahon wasappointed as a Class II Director.
Mr. Hellerstein is Chairman and Chief Executive Officer of St.Mary Land & Exploration Company, where he is scheduled to becomenon-executive Chairman on February 26, 2007. He previously served asPresident and Chief Financial Officer of St. Mary Land & ExplorationCompany.
Mr. McMahon, co-founder of Pine Brook Road Partners LLC, a NewYork-based private equity firm, previously served as ExecutiveCounselor to the Governor of Rhode Island and worked as an investmentbanker at Lehman Brothers, Salomon Brothers and J.P. Morgan. Inaddition, Mr. McMahon is a former board member of SpinnakerExploration Company, L.L.C., Triton Energy Ltd., Numar Corporation andMarine Drilling Companies.
The term of Class III Directors runs to the 2008 Annual GeneralMeeting, and the term of Class II Directors runs to the 2009 AnnualGeneral Meeting.
Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 82 mobile offshore drilling units. Thecompany's mobile offshore drilling fleet, consisting of a large numberof high-specification deepwater and harsh environment drilling units,is considered one of the most modern and versatile in the world due toits emphasis on technically demanding segments of the offshoredrilling business. The company's fleet consists of 33High-Specification Floaters (semisubmersibles and drillships), 20Other Floaters, 25 Jackups and other assets utilized in the support ofoffshore drilling activities worldwide. With a current equity marketcapitalization in excess of $23 billion, Transocean Inc.'s ordinaryshares are traded on the New York Stock Exchange under the symbol\"RIG.\"
CONTACT: Transocean Inc., Houston
Analyst Contact: Jeffrey L. Chastain, 713-232-7551
Media Contact: Guy A. Cantwell, 713-232-7647
SOURCE: Transocean Inc.