Transocean Ltd. Provides Fleet Update Summary
June 22 2015 - 3:22PM
ZUG, SWITZERLAND-June 22, 2015-Transocean Ltd.
(NYSE: RIG) (SIX: RIGN) today 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.
The company has classified the GSF Celtic Sea and the Transocean
Amirante as held for sale. The Amirante
will be recycled in an environmentally responsible manner; the
Celtic Sea will either be sold for use in a
non-drilling capacity or recycled. To date, excluding the Celtic Sea, Transocean has indicated its intent to
scrap a total of 20 floaters.
The report can be accessed on the company's website at
www.deepwater.com.
Forward-Looking Statements
The statements described in this press release that are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements contain words
such as "possible," "intend," "will," "if," "expect" or other
similar expressions. Forward-looking statements are based on
management's current expectations and assumptions, and are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. As a result, actual results could differ
materially from those indicated in these forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to, 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, timing of the
company's newbuild deliveries, operating hazards and delays, risks
associated with international operations, actions by customers and
other third parties, the future prices of oil and gas, the
intention to scrap certain drilling rigs and other factors,
including those and other risks discussed in the company's most
recent Annual Report on Form 10-K for the year ended December 31,
2014, and in the company's other filings with the SEC, which are
available free of charge on the SEC's website at www.sec.gov.
Should one or more of these risks or uncertainties materialize (or
the other consequences of such a development worsen), or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or expressed or implied by such
forward-looking statements. All subsequent written and oral
forward-looking statements attributable to the company or to
persons acting on our behalf are expressly qualified in their
entirety by reference to these risks and uncertainties. You should
not place undue reliance on forward-looking statements. Each
forward-looking statement speaks only as of the date of the
particular statement, and we undertake no obligation to publicly
update or revise any forward-looking statements to reflect events
or circumstances that occur, or which we become aware of, after the
date hereof, except as otherwise may be required by law. All
non-GAAP financial measure reconciliations to the most comparative
GAAP measure are displayed in quantitative schedules on the
company's website at www.deepwater.com.
This press release, or referenced documents, do not constitute an
offer to sell, or a solicitation of an offer to buy, any
securities, and do not constitute an offering prospectus within the
meaning of article 652a or article 1156 of the Swiss Code of
Obligations or a listing prospectus within the meaning of the
listing rules of the SIX Swiss Exchange. Investors must rely on
their own evaluation of Transocean and its securities, including
the merits and risks involved. Nothing contained herein is, or
shall be relied on as, a promise or representation as to the future
performance of Transocean.
About Transocean
Transocean is a leading international
provider of offshore contract drilling services for oil and gas
wells. The company specializes in technically demanding sectors of
the global offshore drilling business with a particular focus on
deepwater and harsh environment drilling services, and believes
that it operates one of the most versatile offshore drilling fleets
in the world.
Transocean owns or has partial ownership interests in, and operates
a fleet of, 63 mobile offshore drilling units consisting of 27
ultra-deepwater floaters, six deepwater floaters, seven
harsh-environment semisubmersibles, 13 midwater semisubmersibles,
and 10 high-specification jackups. In addition, the company has
seven ultra-deepwater drillships and five high-specification
jackups under construction.
For more information about Transocean, please visit:
www.deepwater.com.
Analyst Contacts:
Thad
Vayda
+1 713-232-7551
Diane Vento
+1 713-232-8015
Media Contact:
Pam Easton
+1 713-232-7647
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Transocean Ltd via Globenewswire
HUG#1930439
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