Transocean Ltd. Provides Fleet Status Report

Marketwired

ZUG, SWITZERLAND--(Marketwire - Oct 17, 2012) - Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a comprehensive Fleet Status Report which provides current status and contract information for the company's entire fleet of offshore drilling rigs. Since the September fleet update, backlog associated with new contracts or extensions is approximately $8.1 billion, including $7.6 billion associated with the four newbuild ultra-deepwater drillships announced on September 28, 2012.

Including rigs classified as discontinued operations, estimated out of service time for 2012 increased by a net 138 days, which includes approximately 80 days associated with certification of well control equipment in anticipation of potential contracts and 46 days due to a shipyard acceleration into 2012 from 2013. Estimated out of service time for 2013 decreased by a net 290 days, which was primarily due to changes in shipyard schedules.

Other highlights are as follows:

  • Sedco Express - Awarded a 20-month contract for work offshore Nigeria at a dayrate of $600,000 ($360 million contract backlog). The rig's prior dayrate was $500,000.
  • GSF Constellation II - Awarded a 30-month contract for work offshore Gabon at a dayrate of $160,000 ($146 million contract backlog). The rig's prior dayrate was $109,000.
  • Transocean Amirante - Customer exercised a 180-day option for work offshore Egypt at a dayrate of $305,000 ($55 million contract backlog). The rig's prior dayrate was $275,000.
  • The company has sold the GSF Rig 103, 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.

Forward-Looking Statements

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.

About Transocean

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, 115 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters, nine High-Specification Jackups, 32 Standard Jackups and one swamp barge. Included in the 115 drilling units, the company has 32 Standard Jackups and one swamp barge classified as discontinued operations. In addition, we have six Ultra-Deepwater Drillships and three High-Specification Jackups under construction.

For more information about Transocean, please visit our website at www.deepwater.com.

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