December 28, 2018 / 11:39 AM / 6 months ago

BRIEF-Transocean Ltd. Announces 5-Year $830 Million USD Drilling Contract For Newbuild Ultra-Deepwater Drillship

Dec 28 (Reuters) - Transocean Ltd:

* TRANSOCEAN LTD. ANNOUNCES 5-YEAR $830 MILLION USD DRILLING CONTRACT FOR NEWBUILD ULTRA-DEEPWATER DRILLSHIP

* TRANSOCEAN LTD - RIG IS EXPECTED TO COMMENCE OPERATIONS IN GULF OF MEXICO IN SECOND HALF OF 2021

* TRANSOCEAN - IN EVENT OF TERMINATION FOR CONVENIENCE BY CUSTOMER, TRANSOCEAN WILL BE COMPENSATED FOR INCREMENTAL 20,000 PSI SUBSEA INVESTMENT IN RIG

* TRANSOCEAN LTD - ADDITIONALLY, A TERMINATION FOR CONVENIENCE OCCURRING AFTER APRIL 2020, WOULD RESULT IN A “SUBSTANTIAL” TERMINATION FEE Source text for Eikon: Further company coverage:

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