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Saturday, January 20, 2018

Transocean Inc News

Transocean Inc. Releases Update on Fleet Contract Status

Transocean Inc. (NYSE:RIG) announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of October 30, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com. Statements regarding the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects, other out of service time, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions.

Transocean Provides Update On Fleet Contract Status

Transocean Inc.’s report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of September 1. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com. The report can be accessed from the home page

Transocean Provides Update On Fleet Contract Status

Transocean Inc. announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of May 1, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com.

Transocean Update On Fleet Contract Status

Transocean Inc. said that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of July 31, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link found in the tool bar.

Kinder Resigns from Transocean Board

Transocean announced that Richard D. Kinder has submitted his resignation as a member of the company’s board of directors to devote more attention to his duties at Kinder Morgan, Inc. and Kinder Morgan Energy Partners, L.P. Kinder’s resignation is effective immediately. Kinder is chairman of the board and CEO of both Kinder Morgan, Inc. and Kinder Morgan Energy Partners, L.P. which own and operate diversified energy assets. He served as a Transocean Inc., director since November 1994. Transocean Inc., does not intend to fill the vacancy created by Kinder’s resignation and will operate with an 11-member board of director.

Transocean Will Issue $1.25 Billion Of Notes Due 2023

Transocean Ltd. announced that its wholly-owned subsidiary Transocean Inc., has priced its previously-announced offering of senior unsecured notes. Transocean will issue $1.25 billion in aggregate principal amount of senior unsecured notes due 2023 pursuant to Rule 144A/Regulation S to eligible purchasers. The notes will be guaranteed by Transocean Ltd. and certain of Transocean Inc.'s subsidiaries. The notes will bear interest at the rate of 9 percent per annum and will be callable on or after July 15, 2020. The offering is expected to close on or about July 21, 2016, subject to customary closing conditions. Transocean expects to receive aggregate net proceeds of approximately $1.21 billion from the offering, after deducting the initial purchasers' discounts and estimated offering costs.

Transocean Inc. Subsidiary - Todco - to go Public

Transocean Inc. said its subsidiary TODCO (formerly R&B Falcon Corporation) has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with the previously announced initial public offering of its Gulf of Mexico Shallow and Inland Water business segment. The registration statement relates to TODCO common stock to be sold by Transocean in the offering. TODCO does not expect to sell any shares in the offering. Upon the closing of the initial public offering, TODCO's fleet is expected to consist of 76 drilling rigs including 27 jackup rigs, 31 drilling barges and three submersible drilling rigs located in the U.S. Gulf of Mexico, two jackup rigs and one platform rig located in Trinidad and nine land rigs and three lake barges located in Venezuela.

Transocean Inc. Update On Fleet Contract

Transocean Inc. announced that its report of drilling rig status and contract information covering the company's 140-unit offshore drilling fleet has been updated as of January 8, 2008. Drilling rig status and contract information on the company's offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link found in the tool bar.

Transocean Provides Update On Fleet Contract Status

Transocean Inc. announced that its report of drilling rig status and contract information covering the company's 140-unit offshore drilling fleet has been updated. Drilling rig status and contract information on the company's offshore drilling fleet has been condensed into a report titled Transocean Fleet Update, which is available through the company's website www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link found in the tool bar.

Transocean Inc.’s Nautilus Receives Two-Year Contract Extension

Transocean Inc. announced that a subsidiary of Royal Dutch Shell (Shell) has awarded a two-year contract extension for the company's Fifth-Generation moored semi-submersible rig Deepwater Nautilus. The two-year contract extension is expected to commence in December 2006, in direct continuation of the rig's current contract. Revenues of approximately $310 million could be generated over the two-year extension period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Nautilus is currently operating for Shell Exploration and Production in the U.S. Gulf of Mexico and is expected to continue drilling…

Transocean Semisub Missing After Ivan

Transocean Inc. announced that a search continues in the Gulf of Mexico for the deepwater semisubmersible Deepwater Nautilus in the aftermath of Hurricane Ivan. All personnel had previously been safely evacuated and the well was secured before the approach of the storm. The U.S. Coast Guard has been notified of the missing rig, which was moored to the seafloor with anchors and related equipment at its location approximately 160 miles south of Mobile, Alabama. The company has accounted for all of its other drilling rigs in the Gulf of Mexico, consisting of five deepwater drillships and three other deepwater semisubmersible rigs. The company will provide an update when more information becomes available. Transocean Inc.

Daewoo Shipbuilding Wins Order from Transocean

Daewoo Shipbuilding & Marine Engineering Co won a $270M order from Transocean Inc. to build a drill ship. The vessel will be delivered by September 2008 and used to explore oil reserves in the Gulf of Mexico. Source: xinhua

Transocean to Present at Conference

Gregory L. Cauthen, Transocean Inc. Senior V.P., CFO and Treasurer, will make a presentation at the Credit Suisse First Boston Energy Summit Conference in Vail, Colo. Cauthen is scheduled to present on Thursday, February 6, 2003. The live presentation and a replay will be publicly accessible through the company’s website at www.deepwater.com.

Transocean Provides Update on Fleet Contract Status

Transocean Inc. announced that its report of drilling rig status and contract information covering the company's 140-unit offshore drilling fleet has been updated as of December 7, 2007.

OIS Wins Semi Reactivation Contract

In early 2005, Transocean Inc selected Mobile, Alabama based Offshore-Inland Marine & Oilfield Services Inc (OIS) to perform the re-activations of semis Falcon 100 and Amirante. Transocean has now designated OIS as the prime contractor for the re-activation of the Semi C. Kirk Rhein. The ongoing topside services provided by OIS include steel fabrication and renewals, piping and tubing replacement, electrical repairs, mechanical component replacement and deck crane repairs. In addition to services provided to Transocean in Mobile, OIS has numerous teams offshore providing service for other Transocean rigs as well as for Noble Corporation, Diamond Offshore Drilling, GlobalSantaFe Corporation, and Cal Dive International.

Transocean Awarded Contracts

Transocean Inc announced that Statoil on behalf of a consortium consisting of Statoil, Eni, Norsk Hydro and Shell has awarded multi-year contracts valued at an estimated $700 million in revenues for the company's High-Specification semisubmersible rigs Transocean Arctic and Polar Pioneer. The Transocean Arctic has been awarded an estimated 50-month contract for drilling, completion and intervention work on the Norwegian Continental Shelf. The contract is expected to commence in the third quarter of 2006 following completion of the rig's current contract offshore Norway, also with Statoil. Revenues of approximately $395 million could be generated over the estimated 50-month contract period.

Transocean Granted Purchase Option Rights for Jackup Rigs

Transocean Inc. has entered into agreements with PetroJack ASA of Norway (PetroJack) providing Transocean with the exclusive marketing rights in respect of three PetroJack jackup rigs under construction, PetroJack I, II and III, as well as options to purchase each unit. The three Baker Marine Pacific Class 375 deep drilling jackup rigs are currently under construction in Singapore with expected delivery dates in 2007 and 2008. The exclusive marketing rights and options granted to Transocean by PetroJack will terminate on March 15, 2006, but can be extended by 30 days. Transocean anticipates exercising its purchase right on each unit once it has secured a contract of sufficient duration and value, although Transocean is not obligated to purchase any of the jackup rigs.

Transocean Reports Damage to Rig

Transocean Inc. today announced that it has begun the process of deploying personnel to its U.S. Gulf of Mexico-based fleet and damage assessment efforts are underway following Hurricane Katrina. The company noted that it is experiencing some disruption with crew changes stemming from the dislocation caused by the storm. A preliminary inspection of the company's semisubmersible rig Deepwater Nautilus has revealed significant damage to the rig's mooring system and the loss of approximately 3,200 feet of marine riser and a portion of the unit's subsea well control system which remained suspended at the time the unit was evacuated. The rig…

GoM Rigs Evacuate for Storm

In preparation for Hurricane Gustav, evacuations have begun of offshore oil and gas rigs and platforms in the .  Reports said the storm may become the strongest to hit the region in almost three years. Transocean Inc., has begun suspending operations in the Gulf. Royal Dutch Shell Plc was reported to be taking aking logistical arrangements. According to the National Hurricane Center, Gustav may strengthen as the storm's center moves back over water and approaches eastern . Source: Bloomberg

Daewoo Wins Orders

According to reports, Daewoo Shipbuilding and Marine Engineering has said it had won 1.1b dollar in orders to build an oil rig and a drilling ship for Brazilian and U.S. clients. Brazil's Petroserv SA has ordered the semi-submersible drilling rig while Transocean Inc of the United States has ordered the drillship, the shipbuilder said, disclosing no further details on contract terms. The latest deals brought the firm's total orderbook for this year to 36 vessels worth 7.76b dollars. It targets 10b dollars in new orders this year. Source: AFP

Norwegians Buy Oil Rigs

Norway’s Petrojack ASA is selling three jackup oil rigs, being built in Singapore, for $600m. Awilco Offshore ASA and Sinvest ASA will share the cost of the three offshore oil and natural gas drilling platforms. The Baker Marine Pacific Class 375 deep drilling rigs had been slated for sale to Transocean Inc., but the Houston company decided not to purchase the units. (Source: Monsters and Critics.com)

Transocean Inc. to Reactivate Semisubmersible Rig C. Kirk Rhein

Transocean Inc. said that Reliance Industries Limited has awarded a two-year contract for the semisubmersible rig C. Kirk Rhein, Jr. for drilling operations offshore India. The contract is expected to commence in December 2006 following the completion of a reactivation program, which has recently begun. The reactivation program does not involve an upgrade of the rig's current capabilities. Revenues that could be generated over the two-year contract period total an estimated $248 million, excluding revenues for mobilization, demobilization and client reimburseables. The C. Kirk Rhein, Jr., which entered active service in 1976 and was upgraded to its current specifications in 1997, has been idle in the U.S. Gulf of Mexico since March 2002.

Transocean Appoints New President, COO

Transocean Inc. has named Jean P. Cahuzac as president and Steven L. Newman as chief operating officer. Cahuzac, who previously served as executive vice president and chief operating officer of the company, will report to Robert L. Long. Long was president and CEO but will now continue as CEO and as a director of the company. Cahuzac joined a predecessor company of Transocean in 1979 and has held various international technical and senior management positions in the oil and gas industry during the past 27 years. Newman, who previously served as senior vice president of human resources and information process solutions, joined Transocean in 1994. Transocean also appointed David J. Mullen as senior vice president of marketing and planning and Robert "Rob" J.

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