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Sedco News

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

© freddytb Foto / Adobe Stock

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

24 Sep 2017

Transocean Retires Six Floaters

Transocean announced its intent to retire the ultra-deepwater floaters GSF Jack Ryan, Sedco Energy, Sedco Express, Cajun Express, and Deepwater Pathfinder, and the deepwater floater Transocean Marianas. The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner. All six rigs were previously cold stacked. The company will recognize an impairment charge of approximately $1.4 billion during the third quarter of 2017 associated with these actions. “We continue to enhance the quality of our fleet through the addition of new, high-specification assets, and the retirement of older, less competitive rigs,” said Jeremy Thigpen, President and Chief Executive Officer.

25 Feb 2016

Transocean 4Q Revenue Up

Transocean Ltd. Revenues were $1.85 billion, up from $1.61 billion in the third quarter of 2015; Operating and maintenance expenses were $794 million, down from $880 million in the prior period; Adjusted net income was $615 million, $1.68 per diluted share, excluding $4 million of net unfavorable items. - Contract backlog was $15.5 billion as of the February 11, 2016, Fleet Status Report. ZUG, SWITZERLAND-February 24, 2016-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported net income attributable to controlling interest of $611 million, $1.66 per diluted share, for the three months ended December 31, 2015. * $22 million, $0.06 per diluted share, related to restructuring costs; and $1 million in discontinued operations.

02 Apr 2015

Transocean to Scrap Two Rigs

Swiss driller Transocean Ltd. announced yesterday that it intends to scrap, in an environmentally responsible manner, two offshore rigs: GSF Aleutian Key and Sedco 707. The rigs are classified as held for sale.   As a result of this decision, the company expects its first quarter 2015 results to include an estimated non-cash charge of $90 million to $110 million, net of taxes. Including these two rigs, Transocean has announced plans to scrap a total of 18 floaters.   As the company continues to evaluate the long-term competitiveness of its fleet, additional rigs may be identified as candidates for scrapping.   Transocean is in the middle of a search for a replacement for Steven Newman, who stepped down as CEO in February.

18 Mar 2015

Transocean Issues Monthly Fleet Update Summary

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.

19 Nov 2014

Transocean's Fleet Update Summary

Transocean Ltd. 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 October 15, 2014. The total value of new contracts since the October 15, 2014 Fleet Status Report is approximately $83 million. - Discoverer Enterprise - Awarded a one-well contract extension in the U.S. Gulf of Mexico at a dayrate of $399,000 ($32 million estimated backlog). The rig's prior dayrate was $615,000. - GSF Galaxy III - Awarded a four month contract as an accommodation unit in Denmark at a dayrate of $175,000 ($23 million estimated backlog). The rig's prior dayrate was $160,000.

21 Aug 2014

Transocean Fleet Update Summary

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 July 16, 2014. The total value of new contracts since the July 16, 2014 fleet status report is approximately $78 million. On July 28, 2014, the newbuild ultra-deepwater drillship, Deepwater Invictus, commenced operations on its three-year contract in the U.S. Gulf of Mexico at a dayrate of $595,000. Additionally, the newbuild ultra-deepwater drillship, Deepwater Asgard, commenced operations on its three-year contract on August 21, 2014 at a dayrate of $600,000. •Jack Bates - Awarded a two-well contract in Australia at a dayrate of $420,000 ($59 million estimated backlog).

15 May 2014

Transocean Provides Fleet Update Summary

Photo: Transoceean

Transocean Ltd. today 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 April 17, 2014. The total value of new contracts since the April 17, 2014 Fleet Status Report is approximately $953 million, Transocean said. •Dhirubhai Deepwater KG1 - Awarded a three year contract offshore Brazil at a dayrate of $440,000 ($482 million estimated backlog). The rig's prior dayrate was $510,000. •Paul B. Loyd, Jr. - Awarded a two year contract extension in the U.K.

06 May 2014

Transocean to Create New Offshore Drilling Company

Transocean Ltd. says that it intends to pursue the creation of an entity comprising 8 of its UK North Sea midwater drilling rigs. The new entity, Caledonia Offshore Drilling Company (Caledonia) is expected to be established during the second half of 2014. Sedco 704, Sedco 711, Sedco 712, Sedco 714, Transocean John Shaw, Transocean Prospect, GSF Arctic III and J.W. McLean. Transocean explains that the UK North Sea remains an important market for them and the company is committed to maintaining its presence in the region. As such, various options for the separation of Caledonia are under consideration. Caledonia is expected to have a focused approach to assets and operations in the UK North Sea and it will continue to provide best-in-class service to customers.

28 Apr 2014

Hurricane spuds Lancaster well

Hurricane Energy plc announced that the Lancaster horizontal appraisal well was spudded at 10:30 hours BST on 26 April 2014. The Company is using the Transocean Sedco 712 semi-submersible drilling rig for the operation which is intended to drill and test the Lancaster basement oil discovery. The operation is expected to last approximately 75 days after which further technical analysis will be undertaken.

17 Jan 2014

Latest Transocean Offshore Rig Status Report

Image courtesy of Transocean

Transocean's latest comprehensive Fleet Status Report 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 December 18, 2013 Fleet Update Summary is approximately $48 million. GSF Arctic III - Awarded a two-well contract in the U.K. sector of the North Sea at a dayrate of $410,000 ($48 million estimated backlog). The rig's prior dayrate was $339,000. Sedco Energy and Transocean Marianas, ultra-deepwater and deepwater floaters, respectively, are idle.

18 Jul 2013

Transocean Latest Rig Fleet Update

The total value of new contracts since Transocean's June 13, 2013 fleet update summary is approximately $180 million. Estimated 2013 out-of-service time increased by a net 76 days primarily due to work to be performed on the Sedco 704. Forecasted out-of-service time for 2014 is also provided on a rig by rig basis. Relative to preliminary guidance provided in February, out-of-service time for 2014 decreased by a net 381 days due to refinements in the timing and scope of projects, including the previously disclosed acceleration of the Deepwater Millennium shipyard project which is expected to commence later in the third quarter of 2013. Deepwater Frontier - Contract modified to be well-based with an associated extension into the fourth quarter of 2014.

14 Feb 2013

Transocean's Latest Fleet Update

The company's update includes new contracts, significant changes to contracts, & changes to estimated times out of service. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services. The value of new contracts or extensions since the January 17, 2013 fleet status report is approximately $530 million. Estimated 2013 out of service time increased by a net 136 days, including 90 days associated with rig maintenance on the Cajun Express and 75 days due to shipyard acceleration into 2013 from 2014 on the GSF Galaxy I.

18 Jan 2013

Rig Fleet Status, Contract Update, from Transocean

Transocean's current status & contract information for the company's entire fleet of offshore drilling rigs. The value of new contracts or extensions since the December 17, 2012 fleet update summary is approximately $235 million. Estimated 2012 out of service time decreased by a net 15 days. Estimated 2013 out of service time increased by a net 205 days, including 253 days to reactivate the Sedco 712 in anticipation of potential contracts. Sedco 714 - Awarded an 18-month contract extension at a dayrate of $435,000 ($235 million contract backlog). The rig's prior dayrate was $398,000. Well Control Equipment Recertification - The company has now obtained third party certification of well control equipment on 41 of its 64 active floaters, including 24 of its 27 ultra-deepwater rigs.

11 May 2012

North Sea Gas Leak – Total Oil's Update

Elgin Complex: Photo credit Total Oil

The 'West Phoenix' drilling rig has positioned itself about 30 metres away from the Elgin complex ready to support the operation to quell the gas leak, which should start very soon. Before moving alongside Elgin, the 'West Phoenix' had been on standby getting ready. Activities on board the rig this week have included: major welding of some key components; deployment of communication transponders; and final testing of essential equipment, such as the dynamic positioning and mist water systems.

09 Sep 2011

Houston Pilot Receives Prestigious Award

Honored for Leadership: Houston Pilot receives prestigious award at Maritime Luncheon. Captain Paul Brown of the Houston Pilots received the Paul Cuffee Leadership Award from Texas Southern University on July 1st, 2011 during its Summer Maritime Academy Session II Closing Ceremony Luncheon. The Paul Cuffee Leadership Award honors those who demonstrate not only extraordinary leadership skills, but those who are extremely dedicated by their selfless mentoring to fellow pilots. Brown was recognized along with John Etta with the Port of Houston Authority, Capt.

08 Aug 2011

Transocean Orders Third Jack-up Rig from Keppel FELS

Keppel FELS Limited has secured a repeat order from Transocean Offshore Deepwater Holdings Ltd, a subsidiary of Transocean Ltd., valued at $195 million. Following its order of two jack-up rigs from Keppel FELS on February 17, 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. This rig is designed with larger spud cans, expanding its operational coverage to more places, especially areas where soft soil is predominant. Having larger spud cans enables the unit to operate efficiently while minimizing potential leg penetration problems in soft soil conditions.

21 Jul 2010

The BOPstopper, by American Int’l Industries

American International Industries, Inc. announced that Subsea Oil Technologies, Inc., 50% owned by AMIN, has been assigned U.S. patent application number 12/822,324 entitled "Method and Apparatus for Containing an Undersea Oil and/or Gas Spill Caused by a Defective Blowout Preventer (BOP)," filed on June 24, 2010. The prosecution of the patent application at the United States Patent and Trademark Office (USPTO) has been entrusted to the law firm of Volpe and Koenig, P.C., which is located in Philadelphia, Pennsylvania. Mr. Dror stated, "We believe that the invention disclosed by this patent application (the "BOPstopper") is one of the first to be filed at the USPTO to specifically present possible solutions to contain oil and/or gas spills…

11 Oct 2001

Transocean Sedco Forex Awarded Contracts

Transocean Sedco Forex Inc., announced that it has been awarded new contracts for its high-specification semisubmersible rigs Cajun Express and Sedco Express. Ocean Energy Inc. for ultra-deepwater drilling operations on the company's South Titan prospect located in approximately 6,200 feet of water in the U.S. Gulf of Mexico. The contract should commence following the completion of the rig's current drilling assignment with Ocean Energy in the U.S. Gulf of Mexico. Revenues to be generated over the estimated 40-day contract period could total approximately $6 million. The Sedco Express has been awarded a three-well, estimated 130-day contract from a unit of BP for drilling operations in the Eastern Mediterranean offshore the coast of Egypt in waterdepths between 2,600 feet and 3,280 feet.

07 Feb 2008

SNAME Elects New Fellows

On November 14, 2007, the Society of Naval Architects and Marine Engineers announced new additions to its rank of Fellows. The membership grade of Fellow is accorded to individuals who have contributed to significant achievements in naval architecture, marine and ocean engineering, and related fields in the form of advances in design, research, production, operation, education, and associated management. Roderick A. Barr, one of the world’s preeminent hydrodynamists, who developed ship trajectory prediction models from model tests and pioneered their use in ship-handling simulators for training and research. He gathered and analyzed maneuverability data that, with U.S. Coast Guard leadership, resulted in the first set of international maneuvering performance design standards. Norman D.

10 Feb 2009

Keppel’s DSS 51 Semi for Transocean

Lady Sponsor Mrs Lyn Thierens (third from right), spouse of Mr Harry Thierens (centre), Gulf of Mexico Drilling & Completions Wells Director of BP, is accompanied by (from left) Mr Rob Saltiel, Executive VP (Performance) of Transocean, Mr Teo Soon Hoe, Group Finance Director of Keppel Corporation, Guest-of-Honour Mr Peter Ong, Permanent Secretary of the Ministry of Trade and Industry, Mr Tong Chong Heong, CEO of Keppel O&M and Mr Choo Chiau Beng, CEO of Keppel Corporation.

Keppel FELS Limited has completed Transocean’s Development Driller III, an ultra-deepwater drilling rig built to Keppel’s proprietary DSS 51 semisubmersible (semi) design. The Development Driller III is designed to construct wells as deep as 37,500 ft wells and operate in water depths of up to 7,500 ft, upgradable to 40,000 ft and 10,000 ft, respectively. Designed by Keppel’s Deepwater Technology Group in collaboration with Marine Structures Consultants of the Netherlands, DSS units have a total payload of 13,500 tons.

20 Feb 2009

Transocean Reports 4Q & 2008 Results

Transocean Ltd. (NYSE:RIG) reported net income for the three months ended December 31, 2008 of $800m, or $2.50 per diluted share. Revenues for the fourth quarter 2008 totaled a record $3.3b. The results compare to net income of $1.05b, or $4.17 per diluted share, for the three months ended December 31, 2007. For the three months ended December 31, 2007, revenues were $2.1b. •    $17m of write-offs for uncollectible accounts receivable associated with the Sedco 712 rig contract after the operator announced it had been placed into administration (a form of bankruptcy protection under U.K. •    Partially offset by $21m of income related to the sales contract termination fee on the Transocean Nordic and income from the TODCO tax sharing agreement.

25 Aug 2009

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, customer reimbursed equipment and miscellaneous adjustments. The contract term is expected to commence in the third quarter of 2010 following the completion of the rig's current contract, maintenance work and mobilization.