Transocean Barents

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escveritas
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Transocean Barents

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Transocean Ltd. Announces $116 Million in Harsh Environment Contract Awards

STEINHAUSEN, Switzerland, June 16, 2021 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today the Transocean Barents was awarded a two-well contract in Norway with commencement expected in February 2022. The contract award is approximately 200 days in duration and adds an estimated $60 million in firm contract backlog.

Additionally, the Transocean Norge was awarded a four-well contract plus five one-well options in Norway with commencement expected in March 2022. The contract award is approximately 200 days in duration and adds an estimated $56 million in firm contract backlog.
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Re: Transocean Barents

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Transocean Ltd. Announces Contract Awards and Extensions Totaling $488 Million
January 4, 2023

STEINHAUSEN, Switzerland, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today announced contract awards or extensions for five of its drilling rigs. Together, the fixtures represent approximately $488 million of firm backlog.

Deepwater Invictus, an ultra-deepwater drillship, was awarded a new three-well contract with an estimated 100-day duration in the U.S. Gulf of Mexico with an independent operator. The contract contributes an estimated $43 million in backlog and is expected to commence in direct continuation of the rig’s current program.

Transocean Barents, a harsh environment semi-submersible, was awarded a new one-well contract with an estimated 110-day duration in the U.K. North Sea with a major operator. The contract contributes an estimated $34 million in backlog and is expected to commence in the first quarter of 2023.

Additionally, Harbour Energy exercised the third option on its U.K. North Sea contract with Paul B. Loyd, Jr., a harsh environment semi-submersible, for eight P&A wells, adding an estimated $48 million in backlog. The additional term is expected to last 275 days and extends the contract to the third quarter of 2024.

In Norway, certain previously disclosed options under the Transocean Norge contract with Wintershall DEA and OMV have now been added to backlog. The incremental term is expected to last 773 days and contribute an estimated $331 million to backlog.

Finally, TotalEnergies exercised a one-well option on its contract with Development Driller III, an ultra-deepwater semi-submersible, working in Suriname. The incremental well is expected to last 90 days and contribute an estimated $32 million in backlog.
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Re: Transocean Barents

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Transocean Ltd. Provides Quarterly Fleet Status Report
February 9, 2023

STEINHAUSEN, Switzerland, Feb. 09, 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.

Transocean Barents – Awarded a one-well contract in the U.K. North Sea at $310,000 per day.
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Re: Transocean Barents

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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.
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Re: Transocean Barents

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Transocean Ltd. Announces $251 Million Harsh Environment Semisubmersible Contract

Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a minimum 540-day contract for the Transocean Barents with OMV Petrom S.A. in the Romanian Black Sea at a rate of $465,000 per day, excluding additional services. The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $251 million in backlog, excluding full compensation for mobilization and a demobilization fee. For each day over 540 days, including the two option periods, the operating dayrate will be $480,000.
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Re: Transocean Barents

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STEINHAUSEN, Switzerland, Feb. 14, 2024 (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:
  • Transocean Barents – Awarded a minimum 540-day contract in the Romanian Black Sea at a rate of $465,000.
The aggregate incremental backlog associated with these fixtures is approximately $326 million. As of February 14, 2024, the company’s total backlog is approximately $9 billion.
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