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 |
Deepwater Asgard | Beacon | USGOM | 74 | $ | 240,000 | $ | 17,760,000 | Jan. 2020 |
TOTAL ADDED | $ | 352,986,000 |
Source: Transocean
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