Transocean seeing increasing demand for ultra-deepwater floaters

Transocean Ltd. has secured an additional $352.9 million of backlog from new contracts and extensions.

The ultra-deepwater semisub Development Driller III has received a one-year contract offshore Trinidad.
The ultra-deepwater semisub Development Driller III has received a one-year contract offshore Trinidad.
(Courtesy Transocean)

Offshore staff

STEINHAUSEN, SwitzerlandTransocean Ltd. has secured an additional $352.9 million of backlog from new contracts and extensions.

The company said that as the offshore drilling market continues to improve, it sees an increase in contract opportunities for its ultra-deepwater and harsh-environment drilling services.

President and CEO Jeremy Thigpen said: “Customer demand for the highest specification ultra-deepwater floaters now equals or exceeds the number of marketable rigs currently available in many areas. As a result, new contracts more consistently reflect materially increased day rates, which will generate significantly improved cash flow.”

ConocoPhillips has awarded the harsh-environment semisubmersible Leiv Eiriksson a 125-day contract offshore Norway. The day rate is $235,000.

Talos has awarded the ultra-deepwater drillship Discoverer Inspiration a 120-day contract in the US Gulf of Mexico. The day rate is $210,000.

Beacon has awarded the ultra-deepwater drillship Deepwater Asgard a 200-day contract in the US Gulf of Mexico. The company has also exercised a 74-day option for the drillship at a day rate of $240,000.

The ultra-deepwater semisub Development Driller III has received a one-year contract from an undisclosed customer offshore Trinidad. The day rate is $250,000.

Woodside has awarded the ultra-deepwater drillship Dhirubhai Deepwater KG2 a 180-day contract offshore Myanmar. The day rate is $250,000.

BHP has exercised a one-year option for the ultra-deepwater drillship Deepwater Invictus in the US Gulf of Mexico. The day rate is $155,000.

Equinor has exercised two 32-day options for the harsh-environment semisub Transocean Norge offshore Norway. The day rate is $291,000.

Petronas has exercised a 180-day option for the ultra-deepwater semisub Deepwater Nautilus offshore Malaysia. The day rate is $140,000.

01/08/2020

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