Transocean Ltd. Announces 15-Month Contract For Transocean Barents
03 October 2016 - 9:52PM
ZUG, SWITZERLAND-October 3, 2016-Transocean Ltd.
(NYSE: RIG) announced today that the Transocean
Barents, a harsh-environment, ultra-deepwater floater, has been
awarded a 15-month contract with Suncor Energy at a dayrate of
$260,000. The estimated contract backlog, excluding mobilization,
is $119 million. The rig is expected to commence operations
offshore Canada in the third quarter of 2017.
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 58 mobile offshore drilling units consisting of 29
ultra-deepwater floaters, seven harsh-environment floaters, four
deepwater floaters, eight midwater floaters and 10
high-specification jackups. In addition, the company has five
ultra-deepwater drillships and five high-specification jackups
under construction or under contract to be constructed.
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, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
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, 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 future prices of oil and gas, the
intention to scrap certain drilling rigs, the benefits, effects or
results of the anticipated merger with Transocean Partners LLC, the
failure to obtain Transocean Partners LLC unitholder approval for
the merger and the satisfaction of other conditions to the
consummation of the merger 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, 2015, 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 article 652a or article 1156 of the Swiss Code of
Obligations. 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 Corporate Solutions on behalf
of Nasdaq 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
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