Transocean secures more work for its rigs, adds $373 million in contract backlog

Offshore driller Transocean has secured more work for its drilling rig fleet, adding approximately $373 million in contract backlog since its last fleet status report in February. 

Development Driller III; Image by: U.S. Coast Guard photo by Petty Officer 3rd Class Patrick Kelley; Source: Wikimedia (this image is cropped)

In the latest fleet status report issued on Wednesday, April 17 Transocean said that its total backlog is now $12.1 billion.

During this period, Transocean has secured new contracts and received extensions for previous gigs for its drilling rigs.

According to the fleet status report, ExxonMobil has exercised a six-month option offshore Equatorial Guinea for the Development Driller III semi-submersible drilling rig. This option is scheduled to end in February 2020. The rig’s dayrate is $192,000.

Lundin has exercised a one-well option in the Norwegian North Sea for the semi-sub Leiv Eiriksson – which Transocean acquired through the acquisition of Ocean Rig. This is set to expire in June 2019. Lundin has options until October 2019 after which the rig is set to work for ConocoPhillips.

Italian oil company Eni has exercised two one-well options offshore Angola for the Ocean Rig Poseidon drillship. The option is set to expire in July this year.

Semi-submersible drilling rig Transocean Leader has been awarded a one-well contract in the UK North Sea by Premier Oil. The contract will run from March until June 2020.

Drillship Ocean Rig Mykonos has been awarded by Petrobras a 550-day contract plus an option period of 815 days offshore Brazil.The contract will run from November 2019 until May 2021 with a dayrate of $215,000.

In addition, Petrobras has awarded a 629-day contract, plus an option period of 680 days, offshore Brazil to Ocean Rig Corcovado drillship. The rig’s dayrate is $195,000 and the contract will last from November 2019 until May 2021.

Shell has awarded a six-well contract offshore Malaysia to the semi-sub Deepwater Nautilus. The contract will begin this May and is scheduled to end in January 2020 and Bassoe estimates the dayrate to be at $140,000.

Deepwater Asgard drillship has won a two-well contract in the U.S. Gulf of Mexico with Murphy Oil. The contract starts in May and will end in August 2019. According to Bassoe, the rig’s dayrate is at $160,000.

Offshore Energy Today Staff

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