Transocean Issues Fleet Update Summary for Beginning of July, Total Value of New Pacts ~$2.5B

Transocean Issues Fleet Update Summary for Beginning of July, Total Value of New Pacts ~$2.5B

Transocean Ltd. (NYSE: RIG) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts and changes in estimated planned out-of-service time of 15 or more days since July 17, 2013.  The total value of new contracts since the July 17, 2013 fleet status report is approximately $ 2.5 billion.

Estimated 2013 planned out-of-service time decreased by a net 172 days; estimated 2014 planned out-of-service time increased by a net 119 days.

Other highlights that confirm the company’s new contracts announced on its recent second quarter 2013 results conference call are as follows:

* Discoverer Inspiration – Awarded a five year contract extension for work in the U.S. Gulf of Mexico at a dayrate of $ 585,000 ($ 1.1 billion estimated backlog).  The rig’s prior dayrate was $ 521,000. 

* Discoverer Clear Leader – Awarded a four year contract extension for work in the U.S. Gulf of Mexico at a dayrate of $ 590,000 ($ 861 million estimated backlog).  The rig’s prior dayrate was $ 566,000. 

* GSF Galaxy I- Awarded a three year contract for work in the U.K. sector of the North Sea at an initial dayrate of $ 215,000 ($ 244 million estimated backlog).  The rig’s prior dayrate was $ 133,000 as an accommodation unit. 

* Transocean Barents- Awarded a one year contract for work in the Norwegian sector of the North Sea at a dayrate of $ 601,000 ($ 219 million estimated backlog). The rig’s prior dayrate was $ 580,000. 

* Henry Goodrich- Awarded a nine-month contract for work offshore Eastern Canada at a dayrate of $ 476,000 ($ 129 million estimated backlog).  The rig’s prior dayrate was $ 347,000. 

* The company sold the deepwater floater, Transocean Richardson, which was previously stacked. The details of the transaction have not been disclosed. 

* Transocean Amirante is currently idle. 


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