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Transocean Ltd

Transocean Provides Fleet Update Summary

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Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleet update summary covering only newly signed contracts, significant changes to existing contracts and changes to estimated out of service time of 60 days or more since our quarterly fleet status report dated April 14, 2011. Drilling rig status and contract information on the company's offshore drilling fleet has been condensed into a report titled "Transocean Fleet Status Report," which is available through the company's Web address at www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Status Report link found in the tool bar.   SOURCE: Transocean Ltd  


Transocean Issues Update on Macondo Incident

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Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced today that an affiliate of BP plc on April 20, 2011 filed a cross-claim against Transocean entities in the existing Multi-District Litigation proceeding in the U.S. District Court, Eastern District of Louisiana for contribution pursuant to the Oil Pollution Act of 1990. Pursuant to an order of the court, co-defendants in a consolidated proceeding related to the Macondo well incident were required to file claims by April 20, 2011.


Petrobras 10000 Begins 10-Year Contract

Transocean Ltd. (NYSE:RIG) announced that the newbuild ultra-deepwater drillship Petrobras 10000 has commenced operations in Angola for a subsidiary of Petrobras under a 10-year drilling contract. Transocean has an agreement with the P&M Drilling International B.V. joint venture of Petrobras and Mitsui to acquire the rig under a 20-year capital lease contract. The Petrobras 10000 is one of 21 Ultra-Deepwater Floaters in the Transocean fleet


Transocean: Offer to Acquire 100% of Aker Drilling

The DEEPWATER CHAMPION is a double hull dynamically-positioned DPS class 3 dual activity Transocean / MSC Gusto P10000 Drillship with third load path capability (Source: Transocean.com)

Transocean Services AS, a wholly owned subsidiary of Transocean Ltd. (NYSE: RIG) (SIX: RIGN), announced an all cash voluntary offer for 100 percent of the shares of Aker Drilling ASA for NOK 26.50 per share. The Board of Directors of Aker Drilling has unanimously recommended that its shareholders accept the Offer. On August 14, 2011, Transocean entered into an irrevocable agreement with Aker Capital AS to acquire 41 percent of the outstanding shares of Aker Drilling through (a) the purchase


Shell Charters Four Transocean New Drillships

Transocean Ltd. awarded 10-year contracts for four newbuild dynamically positioned ultra-deepwater drillships by Royal Dutch Shell (Shell). Shipyard delivery for the first drillship is scheduled for mid-2015. The remaining three drillships are expected to be delivered from the shipyard at approximately six-month intervals thereafter. After customer acceptance, the contracts are expected to commence in 2015 and 2016, contributing an estimated revenue backlog of $7


Transocean General Counsel Resigns

Transocean Ltd. announce Nick Deeming has resigned as Senior Vice President, General Counsel and Assistant Corporate Secretary. Mr Deeming resigned for personal reasons, and the company expressed its gratitude for his service. Effective immediately, Mr. Deeming's responsibilities as General Counsel will be assumed by Michael F. Munro, Vice President, Deputy General Counsel and Chief Compliance Officer, and David Schwab, Senior Associate General Counsel, Global Head of Dispute Resolution


Contract for Ultra-Deepwater Rig Sedco Express

Transocean Ltd. (NYSE:RIG) announced that a subsidiary of Noble Energy, Inc. (NYSE:NBL) has awarded a 455-day contract for the ultra-deepwater semisubmersible rig Sedco Express. Estimated contracted revenues related to the 455-day contract term are approximately $241m. Estimated contract revenues represent the maximum amount of revenues that may be earned in the firm contract period, excluding revenues for mobilization, cost escalations


Keppel to Build $195m jack-up rig for Transocean

Keppel FELS Limited (Keppel FELS) secured a repeat order from Transocean Offshore Deepwater Holdings Ltd, a subsidiary of Transocean Ltd. (Transocean) for US$195 million. Following its order of two jack-up rigs from Keppel FELS on 17 February 2011, Transocean is exercising its option to build another high specification jack-up rig based on the KFELS Super B Class Bigfoot design for delivery in 3Q2013. Mr Wong Kok Seng, Managing Director of Keppel FELS said


Transocean: Agreement Reached on Deepwater Horizon Claims

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the April 20, 2010, accident involving the Deepwater Horizon in the Gulf of Mexico. As part of this resolution, a Transocean subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act (CWA) for negligent discharge of oil into the Gulf of Mexico


Transocean Drilling Rig Fleet Update Summary

Transocean Rig: Photo courtesy of  the owners

Transocean Ltd. has issued a monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since January 16, 2014. The total value of new contracts since the January 16, 2014 Fleet Status Report is approximately $66 million.

Estimated 2014 out-of-service time increased by a net 150 days, including 91 days primarily associated with customer-requested and substantially reimbursed


Transocean Orders Two New Ultra-Deepwater Drillships

Transocean rigs: Image courtesy of the owners

Transocean Ltd. inform that a subsidiary company has awarded contracts to Sembcorp Marine's subsidiary, Jurong Shipyard, in Singapore for construction of two newbuild dynamically positioned ultra-deepwater drillships with contract options for up to three more.


Transocean Profit Slides on Lower Rig Demand

Image courtesy of Transocean

Reuters – Transocean Ltd, owner of the world's largest offshore drilling fleet, said on Wednesday that fourth-quarter profit fell 49 percent from a year ago, hurt by lower rig utilization. The company's net profit attributable to controlling interest fell to $233 million


Transocean Estimates 18-24 Months to Recovery

Reuters - Transocean Ltd, owner of the world's largest offshore drilling fleet, said it could take up to 18-24 months for demand to recover as customers delay drilling programs. Demand for offshore rigs is tapering as major oil companies trim exploration and production budgets in the face of


Transocean Latest Offshore Drilling Rig Fleet Summary

Image courtesy of Transocean

Transocean Ltd. has issued its monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since February 18, 2014.  The total value of new contracts since the February 18


Transocean Completes Sale of Rigs to Shelf Drilling

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) has announced  that it has closed on the previously disclosed transaction to sell 38 shallow water drilling rigs to Shelf Drilling Holdings, Ltd. ("Shelf Drilling").    Shelf Drilling is a newly-formed company sponsored equally by


Keppel Earn Bonuses For Early Rig Completions

Keppel FELS complete two rigs early for Transocean and Asia Offshore Drilling, earning a combined US$1.5-milliion bonus. Over two consecutive days Keppel FELS held naming ceremonies for twin jackup rigs built for Transocean, and another jackup rig built for Asia Offshore Drilling (AOD)


Transocean Receives Proposal from Carl Icahn

Photo: Transocean

Transocean Ltd. announced that certain Funds affiliated with Carl Icahn submitted to the company for vote at its 2013 Annual General Meeting of Shareholders (AGM) a dividend proposal of $4.00 per share. Additionally, the Funds provided a notice of nomination of three director candidates for


Transocean Disagrees with Proposed ISS Board Nominees

Transocean Ltd. commented on a report issued by proxy advisory service Institutional Shareholder Services (ISS) regarding the company's Annual General Meeting, which will be held on May 17, 2013. The company issued the following statement in response to the ISS recommendation:


Transocean Chairman Announces Retirement Plans

Transocean Ltd. announced that J. Michael Talbert has advised the Board of Directors that, if reelected at the company's upcoming Annual General Meeting (AGM) on May 17, he will retire from the board no later than the company's 2014 AGM. To facilitate an orderly transition of leadership


Transocean Notify Q2 2013 Results, Teleconference

Transocean Ltd. announces Second Quarter 2013 earnings release date and conference call information
. The company will report earnings for the three months ended June 30, 2013 on Wednesday, August 7, 2013, following the close of trading on the NYSE.


Transocean Future Newbuild Drillship Chartered Out

Transocean deepwater liftboat: Photo courtesy of Transocean

Transocean Ltd. has been awarded a five-year contract by Chevron U.S.A. Inc. for a newbuild dynamically positioned ultra-deepwater drillship. Shipyard delivery is scheduled for the second quarter of 2016. After customer acceptance, the contract is expected to commence in the fourth quarter of


Transocean Fleet Status Report Update

Company drillship: Photo courtesy of Transocean

International provider of offshore contract drilling services for oil and gas wells, Transocean Ltd. has issued the report which provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The total value of new contracts since the September 18


Keppel Wins US$1-Billion Transocean Jackup Rig Order

A Keppel Jackup-rig: Photo courtesy of Keppel Fels

Keppel FELS Limited has secured a repeat order from a subsidiary of Transocean Ltd. (Transocean) to build 5 KFELS Super B Class jackup rigs for US$1.1 billion. The rigs are scheduled to be delivered progressively from 1Q 2016 to 3Q 2017. In addition


Transocean Appoint Lars Sjobring Senior V-P & General Counsel

President/CEO Steven L. Newman: Image courtesy of Transocean

Mr. Sjobring will join the company upon completion of the notice period with his current employer and will be based in Geneva, Switzerland. In the interim, Mr. Allen Katz will continue to serve as the company's Interim Senior Vice President and General Counsel.


Transocean Executive V-P Resigns

Ihab Toma: Photo credit Transocean

Transocean Ltd. say that Executive Vice President, Chief of Staff. Ihab Toma, has resigned with effect from 31, December 2013. Transocean adds that with Mr. Toma's departure, the position of Chief of Staff will be eliminated and responsibilities redistributed. 


 
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