Transocean Ltd : Transocean Ltd. Provides Fleet Status Report
ZUG, SWITZERLAND-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 total value of new contracts since the June 13, 2013 fleet update
summary is approximately $180 million.
Estimated 2013 out-of-service time increased by a net 76 days primarily due to
work to be performed on the Sedco 704. Forecasted out-of-service time for
2014 is also provided on a rig by rig basis. Relative to preliminary guidance
provided in February, out-of-service time for 2014 decreased by a net 381 days
due to refinements in the timing and scope of projects, including the
previously disclosed acceleration of the Deepwater Millennium shipyard project
which is expected to commence later in the third quarter of 2013.
Other highlights are as follows:
*Deepwater Frontier - Contract modified to be well-based with an associated
extension into the fourth quarter of 2014. Effective March 1, 2013 the
contract dayrate increased to $534,000 from $475,000. The rate will
increase to $565,000 effective March 1, 2014 (incremental backlog of
approximately $152 million).
*Transocean Rather - Awarded a one-well contract extension for work
offshore Angola at a dayrate of $400,000 ($28 million estimated backlog).
*The C.K. Rhein, Sedco 703, and Sedco 709 are currently held for sale. The
floaters were previously stacked.
*GSF Arctic I is currently stacked.
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 website at www.deepwater.com.
This press release or referenced documents does not constitute an offer to
sell, or a solicitation of an offer to buy, any securities, and it does not
constitute an offering prospectus within the meaning of article 652a or
article 1156 of the Swiss Code of Obligations or a listing prospectus within
the meaning of the listing rules of the SIX Swiss Exchange. Investors must
rely on their own evaluation of Transocean Ltd. and its securities, including
the merits and risks involved. Nothing contained herein is, or shall be relied
on as, a promise or representation as to the future performance of 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, 81 mobile offshore drilling units consisting of 47 High-Specification
Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 23
Midwater Floaters and 11 High-Specification Jackups. In addition, we have six
Ultra-Deepwater Drillships and one High-Specification Jackup under
For more information about Transocean, please visit the website
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(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Transocean Ltd via Thomson Reuters ONE
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