Transocean’s new drillship starts ten-year contract with Shell

Transocean-owned newbuild ultra-deepwater drillship Deepwater Pontus has started operations for Shell in the U.S. Gulf of Mexico. 

Transocean said in its fleet status report on Thursday that the Deepwater Pontus drillship began its ten-year contract with Shell in late October. The drillship is operating under a $519,000 dayrate and the contract end date is set for October 2027.

To remind, South Korea’s Daewoo Shipbuilding & Marine Engineering delivered the DSME 12000 ultra-deepwater drillship to Transocean back in July.

According to its report on Thursday, Transocean also agreed with SembCorp Marine’s subsidiary, Jurong Shipyard, to enhance the two newbuild drillships by increasing the hook load capacity to three million pounds.

With the upgrade, the company further delayed the delivery dates on each rig. The drillships are expected to be delivered in the second and fourth quarter of 2020.

The offshore contractor also said in its report that its contract backlog currently stands at $9.4 billion.

Offshore Energy Today previously reported on three Transocean rigs getting new contracts. Transocean has not confirmed these contract awards in fleet status report. The three rigs in question are the Deepwater Nautilus, Deepwater Invictus, and Paul B. Loyd, Jr.

As a reminder, an undisclosed charterer hired the 2000-built semi-sub Deepwater Nautilus on August 8 for work in southeast Asia. The drilling rig was hired for a four-month deal from November 1 to February 28, 2018.

Furthermore, the Deepwater Invictus drillship won a $106 million contract with BHP Billiton and will work for the company in the U.S. Gulf of Mexico from April 2018 until April 2020.

Finally, Paul B. Loyd, Jr. semi-submersible drilling rig was awarded two contracts, both in the UK North Sea. The first is with Hurricane Energy to complete the previously drilled Lancaster 205/21a-6 and 205/21a-7Z horizontal production wells.

The contract with Hurricane has three one-well priced options and will last from March to May 2018.

The second contract for the semi-sub is with Zennor Petroleum for two-wells plus two one-well priced options from May to October 2018.

 

Three rigs idled, one deal shortened

 

After the Deepwater Asgard drillship completed its contract in the U.S. Gulf of Mexico with Deep Gulf Energy, the rig went idle while the contract for the drillship Discoverer Clear Leader with Chevron was shortened by almost a year.

Namely, the end date for the contract with Chevron was moved from October 2018 to November 2017 and the dayrate was reduced from $575,000 to $570,000.

Two more rigs were idled in October, namely, the 2010-built Dhirubhai Deepwater KG2 and the 2009-built Development Driller III. According to Transocean’s previous fleet status report, the KG 2 was supposed to work for Australia’s Woodside offshore Myanmar until December 2017.

The Development Driller III was idled after completing a deal with an undisclosed client in September.

Offshore Energy Today Staff

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