Transocean Ltd. Announces Customer Early Terminates The Discoverer Deep Seas
08 February 2016 - 4:57PM
ZUG, SWITZERLAND-February 8, 2016-Transocean Ltd.
(NYSE: RIG) (SIX: RIGN) announced today that Murphy Exploration
& Production Company - USA, a subsidiary of Murphy Oil
Corporation, has elected to terminate the contract for the
ultra-deepwater drillship Discoverer Deep
Seas. The rig's contract was scheduled to end in November 2016.
Transocean will be compensated for the early termination through a
lump-sum payment that includes adjustments for operating
costs.
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 deepwater and harsh environment
drilling services, and believes that it 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, 61 mobile offshore drilling units consisting of 28
ultra-deepwater floaters, seven harsh-environment semisubmersibles,
five deepwater floaters, 11 midwater semisubmersibles, and 10
high-specification jackups. In addition, the company has six
ultra-deepwater drillships and five high-specification jackups
under construction.
For more information about Transocean, please visit:
www.deepwater.com.
Forward-Looking Statements
The statements described in this press release that are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements 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, changes in tax
estimates, impairment of goodwill, asset impairments, operating
hazards and delays, risks associated with international operations,
actions by customers and other third parties, fleet utilization,
the future prices of oil and gas, capital markets 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, 2014, 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.
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 article 652a or article 1156 of the Swiss Code of
Obligations or a listing prospectus within the meaning of the
listing rules of the SIX Swiss Exchange. 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:
Bradley Alexander
+1 713-232-7515
Diane Vento
+1 713-232-8015
Media Contact:
Pam Easton
+1 713-232-7647
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Transocean Ltd via Globenewswire
HUG#1984248
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