Transocean's ultra-deepwater drillship Deepwater Invictus was awarded a two-year contract plus three one-year priced options with a subsidiary of BHP Billiton. The backlog associated with the firm contract is approximately US$106 million. The contract is expected to start Q2 2018.
"We are extremely pleased to continue working with BHP," said president and CEO Jeremy Thigpen. "Since we welcomed the Invictus into our fleet in 2014, the combination of BHP, Transocean and the Invictus has delivered industry-leading performance; and, we look forward to extending our productive relationship through this multi-year contract."
Barclays analysts, in an 17 October research note, called the day rate of $145,000/d disappointing, saying it suggests that the offshore rig market is at rock bottom, with no signs of an inflection.