Transocean rig contracts worth $209 mln

Transocean Ltd. has issued a comprehensive Fleet Status Report which provides the current status and contract information for the company’s entire fleet of offshore drilling rigs.

The total value of new contracts since the March 17, 2014 Fleet Update Summary is approximately $209 million.

Other items include:

– Transocean Marianas – Awarded a four-well contract offshore South Africa at a dayrate of $370,000 ($118 million estimated backlog). The rig was previously idle;

–  Transocean Arctic – Awarded a two-well contract in the Norwegian sector of the North Sea at a dayrate of $519,000 ($83 million estimated backlog). The rig’s prior dayrate was $419,000;

– Sedneth 701 – The rig sustained damage from a galley fire. The company has decided to divest the rig and has classified it as held for sale. Discussions are underway with the customer to transfer the remaining contract backlog to an alternative rig.

Estimated planned 2015 out-of-service time is provided on a rig-by-rig basis. A preliminary review of anticipated projects indicates approximately 1,306 days of planned out-of-service time in 2015, compared with 1,845 days in 2014. Total out-of-service days are aggregated by asset class in the Fleet Status Report.

Since the prior report, estimated 2014 out-of-service time increased by a net 105 days, including 59 days associated with contract preparation on the Transocean Marianas.

Read the entire report here.

Press Release, April 17, 2014

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