Transocean Ltd. Provides Fleet Update Summary

Transocean Ltd. (NYSE: RIG) today issued a monthly fleet update summary which includes newly signed contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 days or longer for all rig classifications since the previously issued comprehensive fleet status report. Backlog associated with new contracts or extensions since the April 18, 2012 fleet status report is approximately $726 million. Planned 2012 out of service time increased by a net 471 days, which includes 320 days (68 percent) associated with rigs preparing for new or potential contracts and 105 days (22 percent) related to recertification of well control equipment on two additional rigs.

Highlights are as follows:

Transocean Spitsbergen - Customer exercised two-year options for work offshore Norway at a dayrate of $542,000 ($396 million contract backlog). The rig's prior dayrate was $500,000. GSF Constellation I - Awarded a three-year contract for work offshore Indonesia at a dayrate of $150,000 ($164 million contract backlog). The rig's prior dayrate was $140,000. GSF Monitor - Awarded a one-year contract for work offshore Nigeria at a dayrate of $153,000 ($56 million contract backlog). The rig's prior dayrate was $118,000. GSF Rig 135 - Awarded a 120-day contract for work offshore Nigeria at a dayrate of $340,000 ($41 million contract backlog). The rig's prior dayrate was $260,000. GSF Monarch - Customer exercised options for work offshore Denmark at a dayrate of $94,000 ($34 million contract backlog). GSF Galaxy III - Customer exercised a six-month option for work in the U.K. sector of the North Sea at a dayrate of $149,000 ($27 million contract backlog). Randolph Yost - Being reactivated in preparation for potential contracts. Well Control Equipment Recertification - The company has now obtained third party certification of well control equipment on 31 of its 63 active floaters, including 19 of its 27 ultra-deepwater rigs. Since the April 18, 2012 fleet status report, the company has sold the Transocean Nordic and Roger W. Mowell, which were previously held for sale. The details of the transactions have not been disclosed.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.