2022-10-13 | NYSE:RIG | press release
STEINHAUSEN, Switzerland, Oct. 13, 2022 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) today released a quarterly Fleet Status Report providing the current status and contractual information for the Company’s offshore drilling fleet.
This quarter’s report includes the following updates:
- Conqueror of the Deep Sea – Earned a two-year contract in the US Gulf of Mexico for $440,000 a day.
- Deepwater Asgard – Awarded a one-well contract in the US Gulf of Mexico at $395,000 per day plus a one-well option.
- Deepwater Asgard – Earned a one-year contract in the US Gulf of Mexico for $440,000 a day.
- Petrobras 10000 – Awarded a 5.8-year contract in Brazil at $399,000 per day, increasing annually to $462,000 per day.
- Development Drill III – Awarded a one-well contract in Suriname at $345,000 per day plus two one-well options.
- Transocean Norway – Awarded a contract for 17 wells in Norway at daily rates ranging from $350,000 to $430,000.
- Dhirubhai Deepwater KG1 – The client exercised a one-well option in India at a cost of $330,000 per day.
- Paul B Loyd Jr – The client exercised two 100-day options in the UK at a cost of $175,000 per day.
- Transoceanic Svalbard – The client exercised a one-well option in Norway at a price of $316,000 per day.
The total incremental backlog associated with these devices is approximately $1.6 billion. As of October 13, the company’s backlog totals approximately $7.3 billion.
The report is available on the company’s website: www.deepwater.com.
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 ultra-deep sea and harsh environment drilling services and operates one of the most diverse offshore drilling fleets in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is building two ultra-deepwater drillships.
Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may 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 projected in these forward-looking statements. Factors that could cause actual results to differ materially include, among others, the estimated length of customer contracts, contract per diem rates, future contract start dates and locations, proposed shipyard projects and other downtime, drilling unit sales, timing of the Company’s newbuild deliveries, operational hazards and delays, risks associated with international activities, actions by customers and other third parties, fluctuations in current and future oil and gas prices, global and regional supply and demand for oil and gas, intent to scrap certain rigs, success of our business following previous acquisitions, the impact of the spread of and mitigation efforts by governments, companies and individuals related to infectious diseases such as COVID-19 and other factors, including these and other risks discussed in the most recent annual report the company’s Form 10-K for the year ended December 31, 20 21 and 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 differ materially from those expressed or implied by such forward-looking statements. All of the following written and oral forward-looking statements, whether attributable to the Company or persons acting on our behalf, are expressly qualified in their entirety by the discussion of these risks and uncertainties. You should not place undue reliance on forward-looking statements. Any forward-looking statement speaks only as of the date of that statement, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances that occur or become known to us after the date of this release, except as required by law something else is required. All non-GAAP financial measure reconciliations with the most comparable GAAP measure are presented in quantitative statements 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 purchase securities and do not constitute an offer prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing in this document is, or should be construed as, a promise or representation as to Transocean’s future performance.
Analyst contacts:
Alison Johnson
+1 713-232-7214
Media contact:
Pam Easton
+1 713-232-7647