Transocean Ltd. Announces 11-Well Contract for GSF Development Driller I
17 July 2018 - 8:55PM
Transocean Ltd. (NYSE:RIG) announced today that the ultra-deepwater
semisubmersible GSF Development Driller I was awarded an 11-well
contract (approximately 955 days) commencing offshore Australia in
the first half of 2019 with Chevron Australia. The estimated firm
contract backlog, excluding integrated services, is approximately
$158 million. Additionally, the contract includes four one-well
options.
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 43 mobile offshore drilling units
consisting of 24 ultra-deepwater floaters, 12 harsh environment
floaters, two deepwater floaters and five midwater floaters. In
addition, Transocean is constructing two ultra-deepwater
drillships; and one harsh environment semisubmersible in which the
company has a one-third interest. The company also operates one
high-specification jackup that was under a drilling contract when
the rig was sold, and the company will continue to operate the
jackup until completion or novation of the drilling contract.
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, 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, 2017, 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
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