Transocean Ltd. Provides Quarterly Fleet Status Report
Transocean (NYSE: RIG) has released its quarterly Fleet Status Report, announcing significant contract extensions for three offshore drilling rigs. The Dhirubhai Deepwater KG1 secured a four-well option in India at $410,000 per day, the Transocean Enabler obtained a three-well option in Norway at $428,000 per day, and the Transocean Endurance received a one-well option in Australia at $390,000 per day.
These new contracts have added approximately $175 million to the company's backlog. As of February 12, 2025, Transocean's total backlog stands at approximately $8.3 billion.
Transocean (NYSE: RIG) ha pubblicato il suo rapporto trimestrale sullo stato della flotta, annunciando importanti estensioni di contratto per tre piattaforme di perforazione offshore. Il Dhirubhai Deepwater KG1 ha ottenuto un'opzione per quattro pozzi in India a $410.000 al giorno, il Transocean Enabler ha ottenuto un'opzione per tre pozzi in Norvegia a $428.000 al giorno, e il Transocean Endurance ha ricevuto un'opzione per un pozzo in Australia a $390.000 al giorno.
Questi nuovi contratti hanno aggiunto circa $175 milioni al portafoglio dell'azienda. A partire dal 12 febbraio 2025, il portafoglio totale di Transocean ammonta a circa $8,3 miliardi.
Transocean (NYSE: RIG) ha publicado su informe trimestral sobre el estado de la flota, anunciando importantes extensiones de contrato para tres plataformas de perforación en alta mar. El Dhirubhai Deepwater KG1 aseguró una opción de cuatro pozos en India a $410,000 por día, el Transocean Enabler obtuvo una opción de tres pozos en Noruega a $428,000 por día, y el Transocean Endurance recibió una opción de un pozo en Australia a $390,000 por día.
Estos nuevos contratos han agregado aproximadamente $175 millones al backlog de la empresa. A partir del 12 de febrero de 2025, el backlog total de Transocean se sitúa en aproximadamente $8.3 mil millones.
Transocean (NYSE: RIG)는 분기별 함대 상태 보고서를 발표하며 세 개의 해양 시추 rig에 대한 중요한 계약 연장을 발표했습니다. Dhirubhai Deepwater KG1은 인도에서 하루 $410,000에 4개의 우물 옵션을 확보했고, Transocean Enabler는 노르웨이에서 하루 $428,000에 3개의 우물 옵션을 얻었으며, Transocean Endurance는 호주에서 하루 $390,000에 1개의 우물 옵션을 받았습니다.
이 새로운 계약들은 회사의 백로그에 약 $175 백만을 추가했습니다. 2025년 2월 12일 기준으로 Transocean의 총 백로그는 약 $8.3 백억입니다.
Transocean (NYSE: RIG) a publié son rapport trimestriel sur l'état de la flotte, annonçant d'importantes extensions de contrat pour trois plateformes de forage offshore. Le Dhirubhai Deepwater KG1 a sécurisé une option de quatre puits en Inde à $410,000 par jour, le Transocean Enabler a obtenu une option de trois puits en Norvège à $428,000 par jour, et le Transocean Endurance a reçu une option d'un puits en Australie à $390,000 par jour.
Ces nouveaux contrats ont ajouté environ $175 millions au carnet de commandes de l'entreprise. Au 12 février 2025, le carnet de commandes total de Transocean s'élève à environ $8,3 milliards.
Transocean (NYSE: RIG) hat ihren quartalsmäßigen Flottenstatusbericht veröffentlicht und bedeutende Vertragsverlängerungen für drei Offshore-Bohrinseln angekündigt. Die Dhirubhai Deepwater KG1 sicherte sich eine Vier-Brunnen-Option in Indien für $410.000 pro Tag, der Transocean Enabler erhielt eine Drei-Brunnen-Option in Norwegen für $428.000 pro Tag, und die Transocean Endurance erhielt eine Ein-Brunnen-Option in Australien für $390.000 pro Tag.
Diese neuen Verträge haben dem Auftragsbestand des Unternehmens etwa $175 Millionen hinzugefügt. Stand 12. Februar 2025 beträgt der Gesamtauftragsbestand von Transocean etwa $8,3 Milliarden.
- Secured three contract extensions across different global markets
- Added $175 million to contract backlog
- Strong dayrates ranging from $390,000 to $428,000
- Substantial total backlog of $8.3 billion
- None.
Insights
The latest fleet status update demonstrates Transocean's strong market position and improving fundamentals in the offshore drilling sector. The secured contract extensions across three distinct regions - India, Norway, and Australia - reflect a strategic geographical diversification that helps mitigate regional market risks while maintaining presence in key offshore markets.
The dayrates secured are particularly noteworthy: $428,000 for the Norwegian operations, $410,000 for India, and $390,000 for Australia. These rates indicate robust demand for high-specification assets and represent healthy levels that contribute to improved cash flow generation. The Norwegian rate commands a premium due to the technical requirements and harsh environment capabilities needed in the North Sea.
The addition of $175 million to the backlog, bringing the total to $8.3 billion, enhances revenue visibility and financial stability. This substantial backlog provides a strong foundation for future cash flows and helps protect against market volatility. The multi-well nature of these extensions (four wells in India, three in Norway, and one in Australia) suggests continued customer confidence in Transocean's operational capabilities and service quality.
The geographical spread of these contracts also highlights Transocean's operational flexibility and ability to maintain efficient fleet deployment across multiple regions. This global presence allows the company to capitalize on regional market strengths while diversifying operational risks. The sustained activity levels in key markets like Norway and India, particularly, indicate continued investment in offshore development projects despite global economic uncertainties.
STEINHAUSEN, Switzerland, Feb. 12, 2025 (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:
- Dhirubhai Deepwater KG1 – Customer exercised a four-well option in India at a dayrate of
$410,000. - Transocean Enabler – Customer exercised a three-well option in Norway at a dayrate of
$428,000. - Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of
$390,000.
The aggregate incremental backlog associated with these fixtures is approximately
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 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.
Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as "possible," "intend," "will," "if," "expect," or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company's most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company's other filings with the SEC, which are available free of charge on the SEC's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com.
This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.
Analyst Contact:
Alison Johnson
+1 713-232-7214
Media Contact:
Pam Easton
+1 713-232-7647
FAQ
What is Transocean's (RIG) total contract backlog as of February 2025?
How much additional backlog did RIG secure in its latest Fleet Status Report?
What is the highest dayrate among RIG's new contract extensions in February 2025?
Which regions did Transocean (RIG) secure new contracts in for February 2025?
What are the dayrates for RIG's three new contract extensions?
