Transocean’s rig scrapping tally hits 18
Transocean Ltd. has announced that it intends to scrap two more rigs.
The company intends to dispose of a midwater floater GSF Aleutian Key and high specification, deepwater, semi-submersible rig Sedco 707. According to Transocean, these rigs are classified as held for sale.
As a result of this decision, the company expects its first quarter 2015 results to include an estimated non-cash charge of $90 million to $110 million, net of taxes. Including these two rigs, Transocean has announced plans to scrap a total of 18 floaters.
Transocean added that as the company continues to evaluate the long-term competitiveness of its fleet, additional rigs may be identified as candidates for scrapping.
Offshore Energy Today Staff