Transocean : Fleet Status Report

Transocean Ltd. Provides Quarterly Fleet Status Report

STEINHAUSEN, Switzerland-April 25, 2022-Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs.

This quarter's report includes the following updates:

•  Development Driller III - Awarded a one-well contract in Colombia at $331,000 per day.

•  Deepwater Inspiration - Customer exercised a one-well option in the U.S. Gulf of Mexico at $300,000 per day.

•  Transocean Spitsbergen - Customer exercised a one-well option in Norway at $305,000 per day.

The aggregate incremental backlog associated with these fixtures is approximately $87.2 million. As of April 25, the company's total backlog is approximately $6.1 billion.

The report can be accessed 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-deepwater and harsh environment drilling services and 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, 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing 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 could 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 fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the success of our business following prior acquisitions, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, such as COVID-19, 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, 2021, 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 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 contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

Analyst Contacts:

Alison Johnson [phone]

Media Contact: Pam Easton [phone]

Updated: April 25, 2022 Revisions Noted in Bold Dynamically positioned "DP" 

Dayrate on

Yr. (1)

Rig Type/NameFootnote References

Floater Type

DP

Entered Service

Water Depth

Drilling Depth

Estimated

(Feet)

(Feet)Location

Customer

Contract Start Date (2)

Estimated Expiration

Current Contract (3)Dayrate on Previous Contract (3)

Date (2)

(Dollars)

(Dollars)

Additional Comments

(8) (6), (15)

Deepwater Titan Ultra-Deepwater (27)

ship ship ship ship ship ship ship ship ship



TBA 2018 2017 2016 2016 2016 2015 2014 2014

12,000

40,000

USGOM

Chevron

Q1 2023

Q1 2028

315,000 185,000 455,000 455,000

N/A N/A N/A N/A

Deepwater Poseidon Deepwater Pontus Deepwater Conqueror

Deepwater Proteus Deepwater Thalassa Ocean Rig Apollo Deepwater Asgard

Deepwater Invictus

Ocean Rig Athena Deepwater Skyros Ocean Rig Mylos Deepwater Corcovado Deepwater Mykonos Ocean Rig Olympia Deepwater Orion Deepwater Champion Discoverer InspirationDiscoverer India Dhirubhai Deepwater KG2 Discoverer Luanda Discoverer Americas Discoverer Clear Leader Petrobras 10000

Dhirubhai Deepwater KG1 Development Driller III

GSF Development Driller I Deepwater Nautilus

      

• 12,000 40,000

• 12,000 40,000

• 12,000 40,000

• 12,000 40,000

• 12,000 40,000

• 12,000 40,000

• 12,000 40,000

  

• 12,000 40,000

  ship ship ship ship ship ship ship ship ship

          

  2014

• 12,000 40,000

  2013

• 12,000 40,000

  2013

• 12,000 40,000

  2011

• 10,000 35,000

  2011

• 10,000 35,000

  2011

• 10,000 35,000

  2011

• 10,000 35,000

  2011

• 12,000 40,000

  2010

• 12,000 40,000

  ship ship ship ship ship ship ship semi semi semi

          

  2010

• 12,000 40,000

  2010

• 12,000 35,000

  2010

• 7,500 40,000

  2009

• 12,000 40,000

  2009

• 12,000 40,000

  2009 2009 2009 2005 2000

• 12,000 37,500

• 12,000 35,000

• 7,500 37,500

• 7,500 37,500

• 8,000 30,000

USGOM USGOM USGOM USGOM USGOM USGOM

Shell

Shell Chevron Chevron

Shell Shell

USGOM USGOM USGOM

Sep-18

Oct-17

Feb-28

Oct-27

Jan-22 Jun-22

Jun-22

Aug-16

Jul-16

Dec-22 May-26 Feb-26 Stacked May-16

USGOM

473,000 473,000

N/A N/A

335,000 579,000

367,000 335,000

474,000 475,000

N/A N/A

Not Disclosed Not Disclosed

BHP

BHP

Angola

Jan-22 May-22 Oct-21 Apr-22 Jun-22

May-22

Jul-22

Apr-22

Jun-22

Sep-22

Stacked Mar-17

TotalEnergies

Brazil Brazil

Dec-21

295,000 280,000

395,000 295,000

260,000 215,000

295,000 260,000

305,000 295,000

Dec-22

Stacked Sep-16

Petrobras PetrobrasUSGOM USGOM USGOM

Hess EnVen Energy EnVen Energy

Dec-19

195,000 573,000

Nov-19

Includes MPD Services

Includes MPD Services

Aug-23

Jul-23

Stacked Apr-16

Idle Oct-19

Stacked Feb-16

Dec-21

199,000 219,000

N/A N/A

Oct-22

Oct-22

215,000

N/A

Nov-22

Nov-22

290,000 215,000

Jan-23

Stacked Jul-20

Idle Jan-22

Stacked Feb-18

Stacked Apr-16

Stacked Jun-19

Brazil Brazil India ColombiaPetrobras Petrobras Reliance Petrobras

Mar-22

300,000 290,000

Mar-23

Mar-23

319,000 326,000 215,000 331,000

N/A

Mar-22 Apr-22

Oct-23

Feb-23 Jun-22 Stacked Nov-20

N/A 173,000

N/A

Not Disclosed

Not Disclosed

Apr-22

Jun-22

145,000

N/AEstimated Average Contract Dayrates (5)Q2 2022 $312,000

Q3 2022 $328,000

Q4 2022 $334,000

Q1 2023 $355,000

Harsh Environment (10)

Transocean Norge Transocean EnablerTransocean Encourage

Transocean Endurance

Transocean Equinox

Transocean Spitsbergen

Transocean Barents Paul B. Loyd, Jr. Transocean Leader Henry Goodrich

(12) (6), (7), (8) (6), (7), (8) (6), (7), (8)

semi semi

 

2019 2016

10,000 1,640

40,000 28,000

(6), (7), (8) (6), (7), (8)

Norway Norway Norway Norway

ConocoPhillips

Equinor Equinor Equinor

(6), (8) (6), (8)

(6), (8), (19)

(6), (8), (19)

(4), (7), (8)semi semi

(4), (7), (8)

(7), (8)

(7), (8)semi semi semi semi

 

semi semi

 



2016 2015

2009 1990 1987/1997 1985/2007

1,640 1,640

28,000 28,000

2015 2010

1,640 10,000

28,000 30,000

• 10,000 30,000

• 2,000 25,000

• 4,500 25,000

• 5,000 30,000

Norway Norway Norway NorwayNorway Norway Norway Norway Norway

Norway UKNSEquinor Equinor Equinor EquinorEquinor Equinor Equinor Equinor Equinor

Shell Serica Energy PLC

Mar-22

Nov-21

Nov-22

Dec-21

Dec-22

Jan-22 Jun-22

Sep-22

Jul-21

Mar-22

Mar-22

Mar-23

Apr-22 Jul-22

Jul-22

Jul-23

Sep-22 Stacked Jul-20 Stacked Mar-20

Dec-22

Aug-22

Dec-22

Nov-22

Nov-23

Jan-23

Mar-24

Mar-23

Jun-23

Apr-22

Jul-22

Jul-22

Jul-23

Estimated Average Contract Dayrates (5)Q2 2022 $386,000

Q3 2022 $363,000

Q4 2022 $426,000

Q1 2023 $439,000

Fixed-Price Options - See Footnote 10
Ultra-Deepwater
Discoverer Inspiration	ship  2010 12,000 40,000 USGOM EnVen Energy Jan-23 Mar-23	310,000	N/A
Harsh Environment
Transocean Enabler	(6), (7), (8), (11) (6), (7), (8), (11) (7), (8) (7), (8)	semi  2016 1,640 28,000 Norway Norway Norway NorwayEquinor Equinor Equinor Equinor Mar-24 Mar-27 Mar-27 Mar-30 Mar-30 Mar-33 Mar-33 Mar-36 424,000 424,000 424,000 424,000 N/A N/A N/A N/A
Transocean Encourage	(6), (7), (8), (11) (6), (7), (8), (11) (7), (8) (7), (8)	semi  2016 1,640 28,000 Norway Norway Norway NorwayEquinor Equinor Equinor Equinor Nov-22 Nov-26 Nov-26 Nov-29 Nov-29 Nov-32 Nov-32 Nov-35 420,000 420,000 420,000 420,000 N/A N/A N/A N/A
Transocean Endurance	(6), (8), (11) (6), (8), (11) (6), (8) (6), (8)	semi  2015 1,640 28,000 Norway Norway Norway NorwayEquinor Equinor Equinor Equinor Jun-23 Jun-26 Jun-26 Jun-29 Jun-29 Jun-32 Jun-32 Jun-35 492,000 492,000 492,000 492,000 N/A N/A N/A N/A