Transocean provides fleet status report

Transocean Ltd. today issued a comprehensive Fleet Status Report which provides current status and contract information for the company's entire fleet of offshore drilling rigs. Backlog associated with new contracts or extensions since the fleet update summary in March 2012 is approximately $220 million. Planned 2012 out of service time increased by a net 391 days, which is expected to be incurred primarily in the second quarter of 2012, and includes 306 days (78 percent) associated with preparing rigs for new or potential contracts.

Highlights are as follows:

• 'GSF High Island VII' – Awarded a one-year contract for work offshore Nigeria at a day-rate of $137,000 ($50 million contract backlog). The rig's prior day-rate was $125,000.
• 'GSF Adriatic IX' – Awarded a one-year contract extension for work offshore Nigeria at a day-rate of $137,000 ($50 million contract backlog). The rig's prior day-rate was $100,000.
  
• 'GSF Galaxy I' reactivation – Awarded a one-year contract for accommodation work in the U.K. sector of the North Sea at a day-rate of $133,000 ($48 million contract backlog). The rig was previously stacked.
• 'Transocean Prospect' – Customer exercised a six-month option for work in the U.K. sector of the North Sea at a day-rate of $252,000 ($45 million contract backlog). The rig's prior day-rate was $246,000.
• 'GSF Key Hawaii' – Customer exercised options, estimated at 200 days, for work offshore Vietnam at a day-rate of $131,000 ($26 million contract backlog). The rig's prior day-rate was $116,000.
• Consistent with the company's asset strategy, in 2012, the following stacked rigs have been sold: 'GSF Rig 136' and 'Transocean Shelf Explorer'. Transaction details have not been disclosed.
• The 'Transocean Nordic', 'Roger W. Mowell', 'Trident 17' and 'GSF Adriatic II', all of which were stacked, are currently held for sale.
  
• 'Deepwater Expedition', 'GSF Galaxy I', 'C.E. Thornton', 'F.G. McClintock', 'Trident XIV' and 'Transocean Rather' are among the rigs preparing for new or potential contracts during 2012 planned out of service time.
• Well Control Recertification – The company has now obtained third party certification of well control equipment on 30 of its 63 active floaters, including 18 of its 27 ultra-deepwater rigs.