Transocean Ltd. Provides Fleet Status Report
July 21 2016 - 5:08PM
ZUG, SWITZERLAND-July 21, 2016-Transocean Ltd.
(NYSE: RIG) today issued a Fleet Status Report that provides the
current status of and contract information for the company's fleet
of offshore drilling rigs.
In May, the newbuild ultra-deepwater drillship Deepwater Proteus commenced operations on its 10-year
contract in the U.S. Gulf of Mexico at a current dayrate of
$498,000. In accordance with the drilling contract, this dayrate
reflects adjustments for reduced operating costs.
The report also includes the following:
- Jack Bates - Awarded a two
year contract offshore India at a dayrate of $127,000 ($93 million
estimated backlog).
- Transocean Spitsbergen -
Awarded a one well contract in the U.K. sector of the North Sea at
an undisclosed dayrate. Additionally, the rig was awarded a one
well contract in the Norwegian North Sea at an undisclosed
dayrate.
- Sedco 704 - Awarded a one
well contract in the U.K. sector of the North Sea at an undisclosed
dayrate.
- Estimated 2016 out of service days increased by a
net 155 days due primarily to contract preparation and mobilization
associated with the Jack Bates and Actinia, and mobilizing the M.G.
Hulme, Jr. and Rig 140 to new
contracts.
- The deepwater floater Sedco
702 is classified as held for sale. The rig will be recycled in
an environmentally responsible manner.
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, 60 mobile offshore drilling units consisting of 29
ultra-deepwater floaters, seven harsh-environment floaters, four
deepwater floaters, 10 midwater floaters, and 10 high-specification
jackups. In addition, the company has five ultra-deepwater
drillships and five high-specification jackups under construction
or under contract to be constructed.
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 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,
2015, 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
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#2030087
Transocean (NYSE:RIG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Transocean (NYSE:RIG)
Historical Stock Chart
From Apr 2023 to Apr 2024