Transocean Ltd fleet update summary: June 2015

Transocean Ltd. has recently issued its monthly fleet update summary which includes new contracts, changes to existing contracts and changes in estimated planned out-of-service time of 15 or more days since last month’s fleet update summary released on 18 May 2015. The total value of new contracts since the last report is approximately US$109 million.

The report includes the following:

  • Transocean Andaman has been awarded a one-year contract extension offshore Thailand at a dayrate of US$115 000.
  • Deepwater Champion has been awarded a three-month contract extension in the US Gulf of Mexico at a dayrate of US$395 000.
  • GSF Galaxy II has been awarded a one well contract extension in the UK sector of the North Sea at a dayrate of US$190 000.
  • Sedco Express has been awarded a 45 day contract offshore Nigeria at a dayrate of US$300 000.
  • The company has amended its construction contracts with Sembcorp Marine's subsidiary, Jurong Shipyard, in order to delay the delivery of its two newbuild, ultra-deepwater drillships by 24 months. The two drillships are now expected to be delivered in 2Q19 and the 1Q20, respectively.
  • The GSF Monarch and Transocean Spitsbergen are idle. The Spitsbergen's well program concluded 45 days early due to efficient performance of the rig, a success since the contract provides for a payment to the company in the event of an early termination.
  • The GSF C.R. Luigs is stacked, a rig, which was previously idle.
  • Estimated 2015 out-of-service time has increased by a net 45 days.

The company has classified the GSF Celtic Sea and the Transocean Amirante as for sale. The Amirante will be recycled in an environmentally responsible manner whilst the Celtic Sea will either be sold for use in a non-drilling capacity or recycled.


Adapted from press release by Cecilia Rehn


Published on 23/06/2015

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