Transocean: Monthly Fleet Update Summary

Transocean Ltd. yesterday 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 associated with continuing operations since November 18, 2012.

The value of new contracts or extensions since the November 18, 2012 fleet update summary is approximately $119 million.

Estimated 2012 out of service time increased by a net 40 days, including 22 days to complete repairs on the Henry Goodrich and 19 days to complete work scope on the GSF Explorer. Estimated 2013 out of service time decreased by a net 17 days.

Other highlights are as follows:

Discoverer Seven Seas – Awarded a three-well contract for work offshore Indonesia at a dayrate of $500,000 ($90 million contract backlog). The rig’s prior dayrate was $490,000.

GSF Magellan – Customer exercised a six-month option for work offshore Nigeria at a dayrate of $160,000 ($29 million contract backlog). The rig’s prior dayrate was $143,000.

On November 30, 2012, the company completed the sale of 37 standard jackups and one swamp barge to Shelf Drilling and will no longer include the rigs in the monthly fleet updates.

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Transocean, December 18, 2012