Transocean Ltd. Provides Quarterly Fleet Status Report
February 11 2019 - 6:33AM
Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status
Report that provides the current status of, and contract
information for, the company’s fleet of offshore drilling rigs.
Since its last Fleet Status Report, Transocean
closed the acquisition of Ocean Rig UDW, Inc. on December 5, 2018.
The transaction adds eight high-specification ultra-deepwater
drillships and two harsh environment semisubmersibles to the
Transocean fleet. In addition, the acquisition includes two
high-specification ultra-deepwater drillships currently under
construction at the Geoje Samsung shipyard in South Korea.
Transocean added approximately $907 million in
contract backlog since its last report, bringing the company’s
backlog to $12.2 billion.
Among the contract additions, Transocean signed
a rig design and construction management contract, as well as a
five-year drilling contract, with Chevron USA, Inc. for one of
Transocean’s two dynamically positioned ultra-deepwater drillships
under construction at the Jurong shipyard in Singapore. The
drilling contract has an estimated backlog of $830 million,
excluding mobilization and reimbursables. The rig will be the first
ultra-deepwater floater rated for 20,000 psi operations and is
expected to commence operations in the Gulf of Mexico in the second
half of 2021.
This quarter’s report also includes the
following new contracts:
- Dhirubhai Deepwater KG2 – Awarded a four-well contract offshore
Australia via a term swap with the GSF Development Driller I. It
was also awarded one four-well option;
- Leiv Eriksson – Customer exercised a one-well option in the
Norwegian North Sea;
- Transocean Arctic – Customer exercised two one-well options in
the Norwegian North Sea and the rig was awarded a two-well contract
with another customer in the Norwegian North Sea;
- Discoverer India – Customer exercised two one-well options
offshore Ivory Coast; and
- Transocean 712 – Customer exercised a one-well option offshore
U.K. North Sea.
Additionally, the company intends to scrap the
Ocean Rig Paros in an environmentally responsible manner; the rig
is classified as held for sale.
The report can be accessed on the company’s
website: www.deepwater.com.
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 49 mobile offshore drilling
units consisting of 31 ultra-deepwater floaters, 14 harsh
environment floaters, and four midwater floaters. In addition,
Transocean is constructing four ultra-deepwater drillships; and one
harsh environment semisubmersible in which the company has a
one-third interest.
Forward-Looking Statements
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, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements contain words such as "possible,"
"intend," "will," "if," "expect," or other similar expressions.
Forward-looking statements are based on management’s current
expectations and assumptions, and are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. As a result, actual results could differ
materially from those indicated in these forward-looking
statements. Factors that could cause actual results to differ
materially 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, sales of drilling units, timing of the
company’s newbuild deliveries, operating hazards and delays, risks
associated with international operations, actions by customers and
other third parties, the future prices of oil and gas, the
intention to scrap certain drilling rigs, the success of our
business following the acquisitions of Songa Offshore SE and Ocean
Rig UDW Inc., and other factors, including those and other risks
discussed in the company's most recent Annual Report on Form 10-K
for the year ended December 31, 2017, 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 to reflect events or circumstances that occur, or which
we become aware of, after the date hereof, except as otherwise may
be required by law. 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, do
not constitute an offer to sell, or a solicitation of an offer to
buy, any securities, and do not constitute an offering prospectus
within the meaning of article 652a or article 1156 of the Swiss
Code of Obligations. Investors must rely on their own evaluation of
Transocean 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.
Analyst Contacts:Bradley
Alexander+1 713-232-7515
Lexington May+1 832-587-6515
Media Contact:Pam Easton+1
713-232-7647
Transocean (NYSE:RIG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Transocean (NYSE:RIG)
Historical Stock Chart
From Sep 2023 to Sep 2024