Transocean Bags New Contracts, Extensions Totaling $119M
Transocean revealed in its fleet status report published Monday that it has bagged substantial new contracts and extensions totalling $119 million since Nov. 18.
The company noted that the Discoverer Seven Seas, an ultra-deepwater drillship, was awarded a three-well contract by Inpex for work offshore Indonesia; between May and December next year. The contract includes an option for extension until February 2014.
Inpex will pay a day rate of $500,000 per day for its use of the rig, adding $90 million to Transocean's contract backlog. The day rate is $10,000 more than the rig's prior contract; Cairn Energy will pay $490,000 to use the rig for drilling works offshore Sri Lanka between January and March next year.
In addition, oil major ExxonMobil had exercised a six-month option on the jackup rig GSF Magellan for work offshore Nigeria, adding a further $29 million to its contract backlog. While the major will be able to use GSF Magellan until May next year; it will have to pay a day rate of $160,000 per day, an increase of $17,000 prior to exercising its extension option.
Transocean disclosed that its estimated out of service time this year will increase by a net 40 days, including 22 days to complete repairs to the semi-submersible Henry Goodrich and 19 days to complete work scope on the ultra-deepwater drillship GSF Explorer. The company forecasted that its out of service time for 2013 will decrease by a net 17 days.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Manages 46 Offshore Rigs
- Oil's Biggest Rigs Headed to Junkyard as Daily Losses Mount (Oct 18)
- Transocean To Buy Norwegian Rig Firm Songa Offshore For $1.1B (Aug 15)
- Borr Drilling Signs Deal With Transocean to Buy 15 Rigs (Mar 20)