UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (date of earliest event reported): November 18, 2020
TRANSOCEAN LTD.
(Exact name of Registrant as specified in its charter)
Switzerland |
| 001-38373 |
| 98-0599916 |
(State or other jurisdiction of | | (Commission | | (I.R.S. Employer |
incorporation or organization) | | File Number) | | Identification No.) |
| | |
Turmstrasse 30 |
| |
Steinhausen, Switzerland | | CH-6312 |
| | |
(Address of principal executive offices) | | (zip code) |
Registrant’s telephone number, including area code: +41 (41) 749-0500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act | ||
Title of each class | Trading Symbol | Name of each exchange on which registered: |
Shares, CHF 0.10 par value | RIG | New York Stock Exchange |
0.50% Exchangeable Senior Bonds due 2023 | RIG/23 | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 | Regulation FD Disclosure. |
Transocean Ltd. announced today that Petrobras has exercised two preexisting, fixed priced options to extend the drilling contracts for two of the Company’s ultra-deepwater drillships, the Deepwater Corcovado and the Deepwater Mykonos, by 680 days and 815 days, respectively. Together these contract extensions add approximately $297 million to Transocean’s industry leading backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed dayrate escalations.
A copy of the press release announcing the contract extensions for the Deepwater Corcovado and the Deepwater Mykonos is attached hereto and is incorporated herein by reference as Exhibit 99.1.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit No. |
| Description |
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99.1 | | Press Release Announcing Deepwater Corcovado and Deepwater Mykonos Contract Extensions |
101 | | Interactive data files pursuant to Rule 405 of Regulation S-T formatted in Inline Extensible Business Reporting Language |
104 | | Cover Page Interactive Data File (formatted as inline XBRL). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TRANSOCEAN LTD. | |
| | |
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Date: November 18, 2020 | By: | /s/ Daniel Ro-Trock |
| | Daniel Ro-Trock |
| | Authorized Person |