Transocean Ltd. Provides Quarterly Fleet Status Report

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.

The report can be accessed on the company’s website: www.deepwater.com.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, consisting of 28 ultra-deepwater floaters and nine harsh environment floaters. In addition, Transocean holds a noncontrolling ownership interest in a company that is constructing one ultra-deepwater drillship.