Transocean Equinox

[escveritas]

Transocean Ltd. Announces $137 Million Contract Award for Harsh Environment Semisubmersible

STEINHAUSEN, Switzerland, May 10, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) announced today that the Transocean Equinox was awarded a five-well contract in Australia by a major operator, representing approximately $137 million in firm backlog, excluding full payment for mobilization and a demobilization fee.

The estimated 300-day contract is expected to commence in the first quarter of 2024. The contract also provides for a one-well option, potentially keeping the harsh environment semisubmersible in Australia through the first quarter of 2025.

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Transocean Ltd. Announces $184 Million Award for Harsh Environment Semisubmersible

STEINHAUSEN, Switzerland, June 28, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a 16-well binding award for the Transocean Equinox in Australia for a consortium of four operators. The estimated 380-day campaign contributes approximately $184 million in backlog, excluding full compensation for mobilization and demobilization. The engagement also includes options that, if fully exercised, could keep the Transocean Equinox working in Australia into 2028.

This new award is expected to commence in the first quarter of 2025 in direct continuation of the rig’s previously announced five-well, 300-day commitment in Australia with a major operator, currently expected to start in the first quarter of 2024.

[escveritas]

Transocean Ltd. Provides Quarterly Fleet Status Report
July 19, 2023

STEINHAUSEN, Switzerland, July 19, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.

This quarter’s report includes the following updates:

• Seventh Generation Ultra-Deepwater Drillship (Deepwater Invictus, Deepwater Thalassa, or Deepwater Proteus) – Awarded a 1,080-day contract in Mexico at a rate of $480,000.

• Transocean Equinox – Awarded a five-well contract, plus a one-well option in Australia at a rate of $455,000.

• Transocean Equinox – Awarded a sixteen-well contract in Australia at a rate of $485,000, plus 21 one-well options at rates between $485,000 and $540,000.

• Transocean Endurance – Awarded a two-well contract in Norway at a rate of $385,000.

• Transocean Barents – Awarded a one-well contract in Lebanon at a rate of $365,000, plus 3 one-well options at rates that may vary between $350,000 and $390,000.

• Transocean Encourage – Customer exercised six one-well options in Norway at a current rate of $464,000.

• Transocean Norge – Customer exercised a one-well option in Norway at a current rate of $365,000 and 3 one-well options at a current rate of $420,000.

• Transocean Barents – Customer exercised a one-well option in the East Mediterranean Sea at a rate of $370,000.

The aggregate incremental backlog associated with these fixtures is approximately $1.2 billion. As of July 19, 2023, the company’s total backlog is approximately $9.2 billion. Assuming all contract options are exercised, the potential incremental backlog associated with the contract options is approximately $480 million to $500 million.