Transocean Ltd. Announces Two-Year Contract for Ultra-Deepwater Drillship Deepwater Invictus
October 17 2017 - 4:19PM
Transocean Ltd. (NYSE:RIG) announced today that the ultra-deepwater
drillship Deepwater Invictus was awarded a two-year contract plus
three one-year priced options with a subsidiary of BHP Billiton.
The backlog associated with the firm contract is approximately $106
million. The contract is expected to commence in the second quarter
of 2018.
“We are extremely pleased to continue working with BHP,” said
President and Chief Executive Officer Jeremy Thigpen. “Since we
welcomed the Invictus into our fleet in 2014, the combination of
BHP, Transocean and the Invictus has delivered industry-leading
performance; and, we look forward to extending our productive
relationship through this multi-year contract.”
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 38 mobile offshore drilling units consisting of
25 ultra-deepwater floaters, seven harsh environment floaters, two
deepwater floaters and four midwater floaters. In addition,
Transocean has four ultra-deepwater drillships under construction
or under contract to be constructed. The company also operates
two high-specification jackups that were under drilling
contracts when the rigs were sold, and the company continues to
operate these jackups until completion or novation of the drilling
contracts.
For more information about Transocean, please visit:
www.deepwater.com.
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 benefits, 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, 2016, 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
Diane Vento +1 713-232-8015
Media
Contact: Pam Easton +1
713-232-7647
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