Transocean Ltd: Transocean Ltd. Provides Fleet Update Summary
ZUG, SWITZERLAND-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 since August 19, 2013. The total value of new contracts since
the August 19, 2013 fleet update summary is approximately $64 million.
Estimated 2013 planned out-of-service time increased by a net one day;
estimated 2014 planned out-of-service time decreased by a net 134 days.
Other items include:
*Transocean Legend - Awarded a two-well contract for work offshore
Australia at a dayrate of $425,000 ($64 million estimated backlog). The
rig's prior dayrate was $293,000.
*Sedco 710 - As mutually agreed between the company and the customer,
effective September 5, 2013 the contract was suspended on the deepwater
floater Sedco 710. The company is currently in discussions with the
customer regarding the remaining contract backlog on the rig. The rig
will be stacked.
*The deepwater floater, Transocean Rather, is stacked.
*The midwater floater, Falcon 100, is held for sale.
*The company sold two standard jackups, Trident 4 and Trident 6, which
were previously held for sale. The details of the transactions have not
The report can be accessed at www.deepwater.com by selecting the Fleet Status
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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, 80 mobile offshore drilling units consisting of 46 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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applicable laws; and
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information contained therein.
Source: Transocean Ltd via Thomson Reuters ONE
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