Transocean was awarded approximately US$35 million for two different contract extensions that are about 11,000mi from each other.
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The Transocean Barents. From Transocean. |
US supermajor Shell requested a one-well extension contract with Transocean for the Transocean Barents harsh environment semisubmersible in the Norwegian North Sea. The contract is an estimated $10 million deal, with a day rate of $300,000.
Eleven thoursand miles away, Reliance Industries extended its contract with Transocean for about three months for the Dhirubhai Deepwater KG2 drillship offshore India. The value of the contract is estimated at $25 million, with a day rate of $295,000.
Transocean also reported in its fleet status that the Sedco Express, GSF Rig 135, Actinia, Transocean Searcher and Transocean Prospect semisubmersibles are idle.
Earlier this month in its 2Q results, Transocean reported new contract at an estimated $178 million, and an $18.6 billion backlog. The company also announced two newbuild drillships on order that are expected in 2Q 2019 and 1Q 2020.
As of today, there are a total of 25 cold stacked and 38 retired floaters. Transocean expects these numbers to increase with the over capacity of supply, and decreased demand in the near- to medium-term.
Compared to others in the industry, Transocean faired well with a net income of $408 million, a 2.5% increase from 1Q 2015.
The company also reached two important Macondo-related settlement agreements that covered almost all outstanding claims against Transocean from the Gulf of Mexico disaster.
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