TRANSOCEAN LTD. Transocean Ltd. Provides Quarterly Fleet Status Report
STEINHAUSEN, Switzerland-October 13, 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:
- Deepwater Conqueror - Awarded a two-year contract in the U.S. Gulf of Mexico at $440,000 per day.
- Deepwater Asgard - Awarded a one-well contract in the U.S. Gulf of Mexico at $395,000 per day plus a one-well option.
- Deepwater Asgard - Awarded a one-year contract in the U.S. Gulf of Mexico at $440,000 per day.
- Petrobras 10000 - Awarded a 5.8-year contract in Brazil at $399,000 per day escalating annually to $462,000 per day.
- Development Driller III - Awarded a one-well contract in Suriname at $345,000 per day plus two one-well options.
- Transocean Norge - Awarded a 17-well contract in Norway at dayrates between $350,000 and $430,000.
- Dhirubhai Deepwater KG1 - Customer exercised a one-well option in India at $330,000 per day.
- Paul B Loyd Jr - Customer exercised two 100-day options in the U.K. at $175,000 per day.
- Transocean Spitsbergen - Customer exercised a one-well option in Norway at $316,000 per day.
The aggregate incremental backlog associated with these fixtures is approximately $1.6 billion. As of October 13, the company's total backlog is approximately $7.3 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
+1 713-232-7214
Media Contact:
Pam Easton
+1 713-232-7647
Updated: October 13, 2022
Revisions Noted in Bold
Dynamically positioned "DP"
Yr. (1) | Dayrate on | Dayrate on | |||||||||||
Water | Drilling | Estimated | Estimated | Current | Previous | ||||||||
Footnote | Floater | Entered | Depth | Depth | Contract | Expiration | Contract (3) | Contract (3) | |||||
Rig Type/Name | References | Type | DP | Service | (Feet) | (Feet) | Location | Customer | Start Date (2) | Date (2) | (Dollars) | (Dollars) | Additional Comments |
Rigs Under Construction (2) | |||||||||||||
Deepwater Titan | (6), (15) | ship | ∗ | TBA | 12,000 | 40,000 | USGOM | Chevron | Q2 2023 | Q2 2028 | 455,000 | N/A | |
Deepwater Atlas | (8), (9), (15), (27) | ship | ∗ | TBA | 12,000 | 40,000 | USGOM | Beacon | Oct-22 | Jul-23 | 315,000 | N/A | Exludes additional services |
(9), (28) | Jul-23 | Oct-23 | N/A | 20,000 psi BOP installation | |||||||||
(8), (9) | Oct-23 | Jul-24 | 455,000 | N/A | Exludes additional services | ||||||||
Ultra-Deepwater (27) | |||||||||||||
Deepwater Poseidon | (6) | ship | ∗ | 2018 | 12,000 | 40,000 | USGOM | Shell | Sep-18 | Feb-28 | 478,000 | N/A | |
Deepwater Pontus | (6) | ship | ∗ | 2017 | 12,000 | 40,000 | USGOM | Shell | Oct-17 | Oct-27 | 476,000 | N/A | |
Deepwater Conqueror | (6), (8), (23) | ship | ∗ | 2016 | 12,000 | 40,000 | USGOM | Chevron | Jun-22 | Feb-23 | 335,000 | 335,000 | Excludes additional services |
(24) | USGOM | Not Disclosed | Mar-23 | Feb-25 | 440,000 | 335,000 | Excludes additional services | ||||||
Deepwater Proteus | (6) | ship | ∗ | 2016 | 12,000 | 40,000 | USGOM | Shell | Aug-16 | May-26 | 481,000 | N/A | |
Deepwater Thalassa | (6) | ship | ∗ | 2016 | 12,000 | 40,000 | USGOM | Shell | Jul-16 | Feb-26 | 480,000 | N/A | |
Ocean Rig Apollo | ship | ∗ | 2015 | 12,000 | 40,000 | Stacked May-16 | |||||||
Deepwater Asgard | ship | ∗ | 2014 | 12,000 | 40,000 | USGOM | Not Disclosed | Jun-22 | Oct-22 | 395,000 | 295,000 | ||
Murphy Oil Corporation | Nov-22 | Jan-23 | 395,000 | 395,000 | |||||||||
(25) | Not Disclosed | Feb-23 | Jan-24 | 440,000 | 395,000 | Excludes additional services | |||||||
Deepwater Invictus | (6) | ship | ∗ | 2014 | 12,000 | 40,000 | USGOM | Woodside | Jul-22 | Oct-22 | 305,000 | 295,000 | |
Oct-22 | Mar-23 | 375,000 | 305,000 | ||||||||||
Ocean Rig Athena | ship | ∗ | 2014 | 12,000 | 40,000 | Stacked Mar-17 | |||||||
Deepwater Skyros | (8), (13) | ship | ∗ | 2013 | 12,000 | 40,000 | Angola | TotalEnergies | Dec-21 | Dec-22 | 195,000 | 573,000 | |
(8) | Angola | TotalEnergies | Jan-23 | Jul-24 | 310,000 | 195,000 | |||||||
Ocean Rig Mylos | ship | ∗ | 2013 | 12,000 | 40,000 | Stacked Sep-16 | |||||||
Deepwater Corcovado | (7), (8) | ship | ∗ | 2011 | 10,000 | 35,000 | Brazil | Petrobras | Dec-19 | Jul-23 | 198,000 | N/A | |
Deepwater Mykonos | (7), (8) | ship | ∗ | 2011 | 10,000 | 35,000 | Brazil | Petrobras | Nov-19 | Aug-23 | 218,000 | N/A | |
(7), (8) | Brazil | Petrobras | Aug-23 | Oct-24 | 364,000 | 218,000 | |||||||
Ocean Rig Olympia | ship | ∗ | 2011 | 10,000 | 35,000 | Stacked Apr-16 | |||||||
Deepwater Orion | ship | ∗ | 2011 | 10,000 | 35,000 | Idle Oct-19 | |||||||
Deepwater Champion | ship | ∗ | 2011 | 12,000 | 40,000 | Stacked Feb-16 | |||||||
Discoverer Inspiration | ship | ∗ | 2010 | 12,000 | 40,000 | USGOM | Hess | Dec-21 | Mar-23 | 215,000 | N/A | ||
USGOM | EnVen Energy | Mar-23 | Apr-23 | 290,000 | 215,000 | ||||||||
USGOM | EnVen Energy | Apr-23 | May-23 | 300,000 | 290,000 | ||||||||
Discoverer India | ship | ∗ | 2010 | 12,000 | 40,000 | Stacked Jul-20 | |||||||
Dhirubhai Deepwater KG2 | ship | ∗ | 2010 | 12,000 | 35,000 | Idle Jan-22 | |||||||
Discoverer Luanda | ship | ∗ | 2010 | 7,500 | 40,000 | Stacked Feb-18 | |||||||
Discoverer Americas | ship | ∗ | 2009 | 12,000 | 40,000 | Stacked Apr-16 | |||||||
Discoverer Clear Leader | ship | ∗ | 2009 | 12,000 | 40,000 | Stacked Jun-19 | |||||||
Petrobras 10000 | (6), (7), (16) | ship | ∗ | 2009 | 12,000 | 37,500 | Brazil | Petrobras | Mar-22 | Mar-23 | 315,000 | N/A | |
(6), (7), (16) | Brazil | Petrobras | Mar-23 | Oct-23 | 322,000 | N/A | |||||||
(6), (7), (16) | Brazil | Petrobras | Oct-23 | Oct-24 | 399,000 | N/A | |||||||
(6), (7), (16) | Brazil | Petrobras | Oct-24 | Oct-25 | 411,000 | N/A | |||||||
(6), (7), (16) | Brazil | Petrobras | Oct-25 | Oct-26 | 423,000 | N/A | |||||||
(6), (7), (16) | Brazil | Petrobras | Oct-26 | Oct-27 | 436,000 | N/A | |||||||
(6), (7), (16) | Brazil | Petrobras | Oct-27 | Oct-28 | 449,000 | N/A | |||||||
(6), (7), (16) | Brazil | Petrobras | Oct-28 | Jul-29 | 462,000 | N/A | |||||||
Dhirubhai Deepwater KG1 | (14), (17) | ship | ∗ | 2009 | 12,000 | 35,000 | India | Reliance | Sep-22 | Nov-22 | 227,000 | 250,000 | |
(19) | India | Reliance | Nov-22 | Dec-22 | 330,000 | 227,000 | |||||||
(14) | India | Reliance | Dec-22 | Aug-23 | 227,000 | 330,000 | |||||||
India | Reliance | Aug-23 | Oct-23 | 330,000 | 227,000 | ||||||||
Development Driller III | (8) | semi | ∗ | 2009 | 7,500 | 37,500 | Suriname | TotalEnergies | Jan-23 | Mar-23 | 345,000 | 331,000 | Excludes additional services |
GSF Development Driller I | semi | ∗ | 2005 | 7,500 | 37,500 | Stacked Nov-20 | |||||||
Deepwater Nautilus | semi | 2000 | 8,000 | 30,000 | Idle Oct-22 | ||||||||
Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | ||||||||||
Estimated Average Contract Dayrates (5) | $332,000 | $345,000 | $361,000 | $401,000 |
Yr. (1) | Dayrate on | Dayrate on | |||||||||||
Water | Drilling | Estimated | Estimated | Current | Previous | ||||||||
Footnote | Floater | Entered | Depth | Depth | Contract | Expiration | Contract (3) | Contract (3) | |||||
Rig Type/Name | References | Type | DP | Service | (Feet) | (Feet) | Location | Customer | Start Date (2) | Date (2) | (Dollars) | (Dollars) | Additional Comments |
Harsh Environment (10) | |||||||||||||
Transocean Norge | (12) | semi | ∗ | 2019 | 10,000 | 40,000 | Norway | ConocoPhillips | Mar-22 | Aug-22 | 280,000 | N/A | |
(7), (8), (12), (18) | Norway | Wintershall DEA/OMV | May-23 | Dec-23 | 347,000 | 280,000 | Incremental term up to 863 days at | ||||||
dayrates of $370,000 to $430,000 is | |||||||||||||
subject to certain approvals | |||||||||||||
Transocean Enabler | (6), (7), (8) | semi | ∗ | 2016 | 1,640 | 28,000 | Norway | Equinor | Jul-22 | Jul-23 | 422,000 | N/A | |
(6), (7), (8) | Norway | Equinor | Jul-23 | Mar-24 | 413,000 | N/A | |||||||
Transocean Encourage | (6), (7), (8) | semi | ∗ | 2016 | 1,640 | 28,000 | Norway | Equinor | Mar-22 | Mar-23 | 419,000 | N/A | |
(6), (7), (8) | Norway | Equinor | Mar-23 | Nov-23 | 409,000 | N/A | |||||||
Transocean Endurance | (6), (8) | semi | ∗ | 2015 | 1,640 | 28,000 | Norway | Equinor | Dec-21 | Dec-22 | 488,000 | N/A | |
(6), (8) | Norway | Equinor | Dec-22 | Jun-23 | 477,000 | N/A | |||||||
Transocean Equinox | (6), (8), (26) | semi | ∗ | 2015 | 1,640 | 28,000 | Idle Oct-22 | ||||||
Transocean Spitsbergen | (6), (7), (8) | semi | ∗ | 2010 | 10,000 | 30,000 | Norway | Equinor | Apr-22 | Oct-22 | 288,000 | N/A | Excludes additional services |
(4), (6), (7), (8) | Norway | Equinor | Nov-22 | Dec-22 | 304,000 | N/A | Excludes additional services | ||||||
(4), (6), (7), (8) | Norway | Equinor | Dec-22 | Jun-23 | 307,000 | N/A | Excludes additional services | ||||||
(4), (6), (7), (8) | Norway | Equinor | Jun-23 | Sep-23 | 317,000 | N/A | Excludes additional services | ||||||
(6), (7), (8) | Norway | Equinor | Sep-23 | Mar-25 | 339,000 | N/A | Excludes additional services | ||||||
Transocean Barents | (4), (7), (8) | semi | ∗ | 2009 | 10,000 | 30,000 | Norway | Shell | Jan-22 | Oct-22 | 282,000 | N/A | |
Paul B. Loyd, Jr. | semi | 1990 | 2,000 | 25,000 | UKNS | Serica Energy PLC | Jun-22 | Nov-22 | 160,000 | N/A | |||
(6), (7), (8), (20) | Harbour Energy | Dec-22 | Mar-23 | 175,000 | 160,000 | ||||||||
(6), (7), (8), (20) | Harbour Energy | Mar-23 | Jun-23 | 175,000 | 175,000 | ||||||||
(6), (7), (8) | Harbour Energy | Jun-23 | Sep-23 | 175,000 | 175,000 | ||||||||
Transocean Leader | semi | 1987/1997 | 4,500 | 25,000 | Stacked Jul-20 | ||||||||
Henry Goodrich | semi | 1985/2007 | 5,000 | 30,000 | Stacked Mar-20 | ||||||||
Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | ||||||||||
Estimated Average Contract Dayrates (5) | $357,000 | $360,000 | $358,000 | $333,000 | |||||||||
Fixed-Price Options - See Footnote 10 | |||||||||||||
Ultra-Deepwater | |||||||||||||
Deepwater Asgard | ship | ∗ | 2014 | 12,000 | 40,000 | USGOM | Murphy Oil Corporation | Jan-23 | Feb-23 | 395,000 | |||
Deepwater Mykonos | (7), (8), (21) | ship | ∗ | 2011 | 10,000 | 35,000 | Brazil | Petrobras | Oct-24 | Jan-25 | 364,000 | ||
Development Driller III | (8) | semi | ∗ | 2009 | 7,500 | 37,500 | Suriname | TotalEnergies | Apr-23 | Jun-23 | 360,000 | ||
(8) | Suriname | TotalEnergies | Jun-23 | Sep-23 | 370,000 | ||||||||
Harsh Environment | |||||||||||||
Transocean Norge | (7), (8), (12), (22) | semi | ∗ | 2019 | 10,000 | 40,000 | Norway | Wintershall DEA / OMV | Jun-24 | Jan-25 | |||
(7), (8), (12), (22) | Jun-25 | Dec-25 | |||||||||||
Transocean Enabler | (6), (7), (8), (11) | semi | ∗ | 2016 | 1,640 | 28,000 | Norway | Equinor | Mar-24 | Mar-27 | 413,000 | N/A | |
(6), (7), (8), (11) | Norway | Equinor | Mar-27 | Mar-30 | 413,000 | N/A | |||||||
(6), (7), (8) | Norway | Equinor | Mar-30 | Mar-33 | 413,000 | N/A | |||||||
(6), (7), (8) | Norway | Equinor | Mar-33 | Mar-36 | 413,000 | N/A | |||||||
Transocean Encourage | (6), (7), (8), (11) | semi | ∗ | 2016 | 1,640 | 28,000 | Norway | Equinor | Nov-23 | Nov-26 | 420,000 | N/A | |
(6), (7), (8), (11) | Norway | Equinor | Nov-26 | Nov-29 | 420,000 | N/A | |||||||
(6), (7), (8) | Norway | Equinor | Nov-29 | Nov-32 | 420,000 | N/A | |||||||
(6), (7), (8) | Norway | Equinor | Nov-32 | Nov-35 | 420,000 | N/A | |||||||
Transocean Spitsbergen | (4), (6), (7), (8) | semi | ∗ | 2010 | 10,000 | 30,000 | Norway | Equinor | Mar-25 | Aug-25 | 379,000 | N/A | |
Paul B. Loyd, Jr. | (7), (8) | semi | 1990 | 2,000 | 25,000 | UKNS | Harbour Energy | Sep-23 | Jun-24 | 175,000 |
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Transocean Ltd. published this content on 13 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2022 21:01:06 UTC.
