Transocean Ltd. Announces $352.9 Million in New Rig Contracts, Options Exercised By Customers

Transocean Ltd. announced today that as the offshore drilling market continues to improve, the company is observing an increase in contract opportunities for its ultra-deepwater and harsh environment drilling services.

“Customer demand for the highest specification ultra-deepwater floaters now equals or exceeds the number of marketable rigs currently available in many areas,” said Transocean President and Chief Executive Officer Jeremy Thigpen. “As a result, new contracts more consistently reflect materially increased dayrates, which will generate significantly improved cash flow.”

Since its last Fleet Status Report issued in October 2019, the company has secured an additional $352.9 million of contract backlog from new contracts and extensions to existing contracts, as follows:

Rig Name
Customer
Location
Duration/
Days
Dayrate
Backlog
Estimate
Contract
Date

New Contracts

Leiv Eiriksson
ConocoPhillips
Norway
125
$
235,000
$
29,375,000
Nov. 2019

Discoverer Inspiration
Talos
USGOM
120
$
210,000
$
25,200,000
Dec. 2019

Deepwater Asgard
Beacon
USGOM
200
$
220,000
$
44,000,000
Dec. 2019

Development Driller III
Undisclosed
Trinidad
365
$
250,000
$
91,250,000
Dec. 2019

Dhirubhai Deepwater KG2
Woodside
Myanmar
180
$
250,000
$
45,000,000
Jan. 2020

Exercised Options

Deepwater Invictus
BHP
USGOM
365
$
155,000
$
56,575,000
Oct. 2017

Transocean Norge (Opt. 1)
Equinor
Norway
32
$
291,000
$
9,313,000
Sept. 2018

Transocean Norge (Opt. 2)
Equinor
Norway
32
$
291,000
$
9,313,000
Sept. 2018

Deepwater Nautilus
Petronas
Malaysia
180
$
140,000
$
25,200,000
Mar. 2019