Transocean to Buy Ocean Rig in $2.7 Bln Deal
Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers, which were hit hard by the steep plunge in oil prices from 2014. Offshore projects, which are more costly than onshore work and take years to develop, became less attractive after oil prices fell to below $30 a barrel in 2016.Global crude prices have since recovered to above $70, renewing producer interest in offshore
Transocean's contract backlog $11.3 Bln on February 9
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. As of February 9, 2017, the company's contract backlog was $11.3 billion. On December 31, 2016, the newbuild ultra-deepwater drillship Deepwater Conqueror commenced operations on its 5-year contract in the U.S. Gulf of Mexico at a dayrate of $589,000. The customer has elected to exercise its contractual option to terminate the contract for the ultra-deepwater drillship Deepwater Asgard effective January 2017.
Transocean Closes Acquisition of Transocean Partners
Transocean Ltd. announced the closing of the acquisition of Transocean Partners. Each outstanding public common unit of Transocean Partners was converted into the right to receive 1.20 shares of Transocean Ltd., which issued approximately 23.8 million shares related to the transaction. In connection with the closing, Transocean Partners' common units were delisted from the New York Stock Exchange.
Transocean's Fleet Status Updated
Transocean Ltd. issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs. The report includes the following: Actinia - Awarded a three year contract offshore India at a dayrate of $101,000 ($111 million estimated contract backlog). Deepwater Invictus - Awarded a two well contract offshore Trinidad at a dayrate of $350,000 ($28 million estimated contract backlog). Dhirubhai Deepwater KG2 - Awarded a six month contract; location and dayrate are not disclosed. The midwater floater Transocea
Transocean Delays Drillship Delivery
Transocean Ltd. (NYSE: RIG) announced today an agreement with Sembcorp Marine's subsidiary, Jurong Shipyard Ptd Ltd, to defer the delivery and related final payments of two dynamically positioned ultra-deepwater drillships. The proprietary Jurong Espadon 3T designed rigs are now scheduled to be delivered during the first and third quarter of 2020.
Transocean 4Q Revenue Up
Transocean Ltd. Reports Fourth Quarter And Full Year 2015 Results:- 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. This compares with $316 million, $0.87 per diluted share, in the third quarter of 2015, excluding $5 million of net favorable items - Net income attributable to controlling interests was $611 million, $1.66 per diluted share, compared with $321
Transocean's Discoverer Deep Seas Contract Terminated
Transocean Ltd. (NYSE: RIG) announced today that Murphy Exploration & Production Company - USA, a subsidiary of Murphy Oil Corporation, has elected to terminate the contract for the ultra-deepwater drillship Discoverer Deep Seas. The rig's contract was scheduled to end in November 2016. Transocean will be compensated for the early termination through a lump-sum payment that includes adjustments for operating costs.
Shell Terminates Polar Pioneer Contract
Royal Dutch Shell has elected to terminate the contract for harsh environment semisubmersible rig Polar Pioneer prior to its expiration in July 2017, the rig's owner Transocean Ltd. announced. Transocean said it will be compensated for the early termination through a lump-sum payment that includes adjustments for reduced operating costs and demobilization to Norway. Shell initially intended to use the rig for its Arctic operations in the Chukchi Sea, but called off the campaign in September.
Transocean's Henry Goodrich gets Two-years Deal
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.
February 2024
