Transocean stacks rig, signs new contracts

In Transocean's updated Fleet Status Report issued today, the Transocean Nordic has been listed as warm stacked.

Offshore staff

HOUSTON -- In Transocean's updated Fleet Status Report issued today, the Transocean Nordic has been listed as warm stacked.

According to analysts Pritchard Capital Partners LLC, the jackup was to be sold to a Kuwaiti company for $170 million. "In December 2008, the sale agreement was terminated," according to Transocean's report today. This is the second sale that has been terminated in recent months, Pritchard says.

In the report Transocean also listed new contracts. TheGSF 140 semisubmersible, received an 18-month commitment from ExxonMobil for use offshore Equatorial Guinea at $435,000 per day. Jackup GSF Monarch also received a contract extension at a day rate of $205,000 to operate for Shell in the North Sea.

1/12/2009

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