Transocean Ltd. Provides Fleet Update Summary

Thu Jun 14, 2012 4:15pm EDT

* Reuters is not responsible for the content in this press release.

Transocean Ltd. / Transocean Ltd. Provides Fleet Update Summary . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

ZUG, SWITZERLAND--(Marketwire - June 14, 2012) - Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days since the May 17, 2012 update. Since the May update, backlog associated with new contracts or extensions is approximately $2.5 billion and planned 2012 out of service time decreased by a net 19 days.

Highlights are as follows:

  • Deepwater Nautilus - Awarded a five-year contract extension for work in the U.S. Gulf of Mexico at a dayrate of $525,000 ($958 million contract backlog). The rig's prior three-year contract dayrate was $551,000.
  • Sedco 702 - Awarded a three-year contract extension at a dayrate of $461,000 ($505 million contract backlog). The rig's prior dayrate was $357,000.
  • Paul B. Loyd, Jr. - The customer exercised an option at a dayrate of $345,000 and signed a follow-on 545-day contract for work in the U.K. sector of the North Sea at a dayrate of $440,000 ($281 million combined contract backlog).
  • Sedco 704 - Awarded a two-year contract for work in the U.K. sector of the North Sea at a dayrate of $355,000 ($259 million contract backlog). The rig's prior dayrate was $280,000.
  • Sedco 711 - Awarded a two-year contract extension for work in the U.K. sector of the North Sea at a dayrate of $350,000 ($256 million contract backlog). The rig's prior dayrate was $275,000.
  • Trident XIV - Awarded a two-year contract for work offshore Angola at a dayrate of $116,000 ($85 million contract backlog). The rig's prior dayrate was $102,000.
  • Effective May 31, 2012, the company owns 100 percent of the Dhirubhai Deepwater KG1 and Dhirubhai Deepwater KG2. Previously, the rigs were owned by a joint venture in which the company owned a 50 percent interest.
  • The company has sold the GSF Adriatic II, which was previously held for sale. The details of the transaction have not been disclosed.

The fleet update summary can be accessed at www.deepwater.com by clicking on the Fleet Status Report link found in the toolbar.

Forward-Looking Statements

Statements regarding the 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, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. We own or have partial ownership interests in and operate a fleet of 130 mobile offshore drilling units consisting of 50 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, 10 High-Specification Jackups, 44 Standard Jackups and one swamp barge. In addition, we have two Ultra-Deepwater Drillships and four High-Specification Jackups under construction. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services. We believe we operate one of the most versatile offshore drilling fleets in the world.

For more information about Transocean, please visit the website at www.deepwater.com.

Analyst Contacts:
Thad Vayda
+1 713-232-7551

Diane Vento
+1 713-232-8015

Media Contact:
Guy A. Cantwell
+1 713-232-7647




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Transocean Ltd. via Thomson Reuters ONE

HUG#1619868

--- End of Message ---

Transocean Ltd.
Chemin de Blandonnet 10 Vernier Switzerland

ISIN: CH0048265513;


Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.