Transocean Ltd. Provides Fleet Status Report
April 16 2015 - 4:20PM
ZUG, SWITZERLAND-April 16, 2015-Transocean Ltd.
(NYSE: RIG) (SIX: RIGN) today issued a comprehensive Fleet Status
Report which provides the current status of and contract
information for the company's entire fleet of offshore drilling
rigs. The total value of new contracts since the March 18, 2015
Fleet Update Summary is approximately $26 million.
The report includes the following:
- Sedco Express - Awarded a 45-day contract extension offshore Nigeria
at a dayrate of $300,000 ($14 million estimated backlog).
- GSF Galaxy II - Awarded a
two month contract extension in the U.K. sector of the North Sea at
a dayrate of $190,000 ($12 million estimated backlog).
- Sedco Energy - The customer
has elected to release the rig; the contract provides for a payment
to the company in the event of an early termination.
- The Discoverer Enterprise,
Sedco Energy, Transocean Amirante, and
GSF Galaxy III are idle.
Estimated 2015 out-of-service time decreased by a net 59 days
primarily due to GSF Rig 140. The company is
currently committed to approximately 48 days of planned
out-of-service time in 2016.
The company intends to scrap the GSF Explorer
in an environmentally responsible manner; the rig is classified as
held for sale. As a result, second quarter 2015 results are
expected to include a related estimated non-cash charge of $100
million to $120 million, net of taxes. To date, Transocean has
indicated its intent to scrap a total of 19 floaters.
The report can be accessed on the company's website at
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 and Section 21E of the Securities Exchange Act of 1934.
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 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,
2014, 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 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 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.
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, 65 mobile offshore drilling units consisting of 41
high-specification floaters (ultra-deepwater, deepwater and
harsh-environment drilling rigs), 14 midwater floaters and 10
high-specification jackups. In addition, the company has seven
ultra-deepwater drillships and five high-specification jackups
under construction.
For more information about Transocean, please visit:
www.deepwater.com.
Analyst Contacts:
Thad
Vayda
+1 713-232-7551
Diane Vento
+1 713-232-8015
Media Contact:
Pam
Easton
+1 713-232-7647
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Transocean Ltd via Globenewswire
HUG#1911973
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