Transocean Ltd. provides fleet update summary

Published Jun 24, 2015
Transocean Ltd.

Transocean Ltd. issued a monthly Fleet Update Summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the May 18, 2015 Fleet Update Summary. The total value of new contracts since the last report is approximately $109 million.

The report includes the following:

Transocean Andaman - Awarded a one year contract extension offshore Thailand at a dayrate of $115,000 ($42 million estimated backlog). Deepwater Champion - Awarded a three month contract extension in the U.S. Gulf of Mexico at a dayrate of $395,000 ($36 million estimated backlog). GSF Galaxy II - Awarded a one well contract extension in the U.K. sector of the North Sea at a dayrate of $190,000 ($17 million estimated backlog). Sedco Express - Awarded a 45 day contract offshore Nigeria at a dayrate of $300,000 ($14 million estimated backlog). The company has amended its construction contracts with Sembcorp Marine's subsidiary, Jurong Shipyard, to delay the delivery of its two newbuild, ultra-deepwater drillships by 24 months. The two drillships are now expected to be delivered in the second quarter of 2019 and the first quarter of 2020, respectively. The GSF Monarch and Transocean Spitsbergen are idle. The Spitsbergen's well program concluded 45 days early due to efficient performance of the rig; the contract provides for a payment to the company in the event of an early termination. The GSF C.R. Luigs is stacked; the rig was previously idle. Estimated 2015 out-of-service time increased by a net 45 days.

Tags: Transocean Ltd.


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