Henry Goodrich News

Transocean Ltd. announced today that the harsh-environment semisubmersible Henry Goodrich was awarded a two year contract with Husky Oil Operations Limited offshore Canada at a dayrate of $275,000. The estimated contract backlog excluding mobilization is $200 million. The rig is expected to commence operations in the second quarter of 2016. As of December 6, 2015, the company's contract backlog is approximately $16.8 billion.

Transocean Ltd today issued a monthly Fleet Update Summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the February 17, 2015 Fleet Update Summary. The total value of new contracts since the last report is approximately $9 million. •             Sedco Express - Awarded a one-well contract extension offshore Nigeria at a dayrate of $300,000 ($9 million estimated backlog). •             Henry Goodrich is idle. •             Ultra-deepwater floaters Discoverer Spirit, GSF Jack Ryan, Deepwater Discovery, and Deepwater Pathfinder are stacked. The rigs were previously idle. •             Estimated 2015 planned out-of-service time decreased by a net 102 days, mainly associated with the Henry Goodrich.

Transocean's update summary includes new contracts, significant changes to existing contracts and changes in estimated planned out-of-service time of 15 or more days since July 17, 2013. The total value of new contracts since the July 17, 2013 fleet status report is approximately $2.5 billion. Estimated 2013 planned out-of-service time decreased by a net 172 days; estimated 2014 planned out-of-service time increased by a net 119 days. Discoverer Inspiration - Awarded a five year contract extension for work in the U.S. Gulf of Mexico at a dayrate of $585,000 ($1.1 billion estimated backlog).

Transocean's fleet update summary includes new contracts, significant changes to existing contracts, and changes in estimated OofS time. The value of new contracts or extensions since the November 18, 2012 fleet update summary is approximately US$119=million. Estimated 2012 out of service time (OofS increased by a net 40 days, including 22 days to complete repairs on the Henry Goodrich and 19 days to complete work scope on the GSF Explorer. Estimated 2013 out of service time decreased by a net 17 days.

Signal International has been awarded a contract for the repair and upgrade of the Transocean semisubmersible rig, HENRY GOODRICH. The project is slated to commence early December 2011 at Signal’s east yard facility in Pascagoula, Mississippi, for a seventy-day out-of-service time frame. The scope of work includes overall repairs, upgrades and refurbishments of the rig. In addition to the removal, renewal and replacement of major equipment; Signal will also be upgrading the crew accommodations, expanding the lifeboat capacity, and renewing the coatings and piping. With prefabrication work underway, the project will enable Signal to employ an additional 300 craft personnel at the yard during peak production.

Husky Energy, Suncor Energy and Statoil Canada reportedly signed a deal to share an offshore rig, helping support continued activity off the Newfoundland and Labrador coast, according to a recent report from www.vancouversun.com. The three-year agreement will see the major oil and gas producers share use of the Henry Goodrich semi-submersible drilling unit for separate projects. It is the second such rig-sharing deal between the corporations with drilling contractor TransOcean, operator of the ill-fated Macondo rig for BP in this spring's offshore U.S. Gulf of Mexico disaster. The prior agreement led to the drilling of the Ballicatters well on the Grand Banks by Suncor Energy…

Transocean Awarded Contracts for Drillship and Semisubmersible Rig Transocean Inc. announced that Hydro has awarded the company a drilling contract for the construction of an enhanced Enterprise-class drillship plus a multi-year contract award for the High-Specification semisubmersible rig Henry Goodrich. Combined revenues possible from the two contract awards total approximately $950 million over six years. The enhanced Enterprise-class drillship is being designed to include the most advanced drilling capabilities in the offshore drilling industry. Hydro has awarded the company a four-year drilling contract, which is expected to commence by mid-2009, following shipyard construction, sea trials, mobilization to the U.S. Gulf of Mexico and customer acceptance.

R&B Falcon Inc. has been granted a contract by Petro-Canada, utilizing the fourth-generation semisubmersible Henry Goodrich for the development of the Terra Nova field offshore eastern Canada. The agreement with Petro-Canada provides for a firm two-year period commencing during the first quarter of 2000, following the unit's completion of its current drilling program with BP Amoco in the U.K. The total contract value amounts to an estimated figure of $74 million with Petro-Canada having the option to extend the primary term of the contract for up to an additional three years with rates to be determined based on a market mechanism. Additionally, the company announced that Arcade Drilling AS received a fixed term extension with BP Amoco through late July 2000 for Paul B. Loyd, Jr.

R&B Falcon Inc. has been granted a contract by Petro-Canada, utilizing the fourth-generation semisubmersible Henry Goodrich for the development of the Terra Nova field offshore eastern Canada. The agreement with Petro-Canada provides for a firm two-year period commencing during the first quarter of 2000, following the unit's completion of its current drilling program with BP Amoco in the U.K. The total contract value amounts to an estimated figure of $74 million with Petro-Canada having the option to extend the primary term of the contract for up to an additional three years with rates to be determined based on a market mechanism. Additionally, the company announced that Arcade Drilling AS received a fixed term extension with BP Amoco through late July 2000 for Paul B. Loyd, Jr.