Transocean Ltd. Provides Quarterly Fleet Status Report
February 09 2017 - 4:20PM
ZUG, SWITZERLAND-February 9, 2017-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 February 9, 2017,
the company's contract backlog was $11.3 billion.
On December 31, 2016, the newbuild ultra-deepwater drillship
Deepwater Conqueror commenced operations on
its 5-year contract in the U.S. Gulf of Mexico at a dayrate of
$589,000.
The customer has elected to exercise its contractual option to
terminate the contract for the ultra-deepwater drillship Deepwater Asgard effective January 2017. The company
will be compensated for the early termination through a lump-sum
payment of approximately $79 million, which is based on the
operating dayrate less the operating cost per day.
The report also includes the following:
- Dhirubhai Deepwater KG2 -
Awarded a three well contract offshore Myanmar.
- Transocean Spitsbergen - The
customer exercised a one well option.
- Paul B. Loyd, Jr. - Awarded
a contract extension of approximately 30 days.
- Estimated 2017 out of service days increased by
24 days due to contract preparation and mobilization associated
with the Dhirubhai Deepwater KG2.
- The floaters M.G. Hulme, Jr.
and GSF Rig 140 were classified as held for
sale. The rigs 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 56 mobile offshore drilling units consisting of 30
ultra-deepwater floaters, seven harsh-environment floaters, three
deepwater floaters, six midwater floaters and 10 high-specification
jackups. In addition, the company has four 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, 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, 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 Corporate Solutions on behalf
of Nasdaq 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
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