Transocean Ltd. Provides Quarterly Fleet Status Report
July 15 2020 - 4:22PM
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.
As of July 15, the company’s total backlog is
approximately $8.9 billion.
This quarter’s report includes the following
updates:
- Paul B. Loyd Jr. – Customer terminated its current drilling
contract in the U.K.
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
ultra-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 39 mobile offshore drilling units consisting of
27 ultra-deepwater floaters and 12 harsh environment floaters. In
addition, Transocean is constructing two ultra-deepwater
drillships.
Forward-Looking Statements
The statements described herein 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 could 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 fluctuations of current and future prices
of oil and gas, the global and regional supply and demand for oil
and gas, the intention to scrap certain drilling rigs, the success
of our business following prior acquisitions, the effects of the
spread of and mitigation efforts by governments, businesses and
individuals related to contagious illnesses such as COVID-19, 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, 2019, 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
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