Updated: July 24, 2024 | | | | | | | | | | |
Significant Updates Noted in Bold | | | | | | | | | | |
| | Primary | | | | | | | Dayrate on | |
| | Hookload | Yr. | | | | Estimated | Estimated | Current | |
| Footnote | Capacity | Entered | | | | Start | End | Contract | |
Rig Type/Name | References | (Short Tons) | Service | Location | Customer | Status | Date | Date | (Dollars) | Additional Comments |
Ultra-Deepwater Floaters (28) | | | | | | | | | | |
Drillships (26) | | | | | | | | | | |
Deepwater Titan | 1 | 1,700 | 2023 | USGOM | Chevron | Firm | Apr-23 | Apr-28 | 455,000 | |
Deepwater Atlas | | 1,700 | 2022 | USGOM | Beacon | Firm | Jul-24 | Jul-25 | 455,000 | |
| | | | USGOM | Beacon | Firm | Jul-25 | Feb-26 | 505,000 | |
| | | | USGOM | Beacon | Contingent | Feb-26 | Jun-26 | 505,000 | |
| | | | USGOM | Beacon | Firm | Jun-26 | Nov-26 | 580,000 | |
| | | | USGOM | Beacon | Contingent | Nov-26 | Jan-27 | 650,000 | |
Deepwater Aquila | 2, 3 | 1,400 | 2024 | Brazil | Petrobras | Firm | Jun-24 | Jun-27 | 437,000 | |
Deepwater Poseidon | 1 | 1,400 | 2018 | USGOM | Shell | Firm | Sep-18 | Feb-28 | 486,000 | |
Deepwater Pontus | 1 | 1,400 | 2017 | USGOM | Shell | Firm | Oct-17 | Oct-27 | 491,000 | |
Deepwater Conqueror | | 1,400 | 2016 | USGOM | Chevron | Firm | Apr-23 | Apr-25 | 440,000 | |
Deepwater Proteus | 1 | 1,400 | 2016 | USGOM | Shell | Firm | Aug-16 | May-26 | 489,000 | |
Deepwater Thalassa | 1 | 1,400 | 2016 | USGOM | Shell | Firm | Jul-16 | Feb-26 | 486,000 | |
Deepwater Asgard | | 1,400 | 2014 | USGOM | Hess Corporation | Firm | Jun-24 | Jun-25 | 505,000 | |
| | | | USGOM | Hess Corporation | Firm | Jun-25 | Jun-26 | 515,000 | |
Deepwater Invictus | 1 | 1,400 | 2014 | USGOM | Not Disclosed | Firm | Jul-24 | Aug-24 | Not disclosed | |
| | | | Mexico | Not Disclosed | Firm | Feb-26 | Jan-29 | 480,000 | Transocean may designate one of the following rigs by February 1, 2025 to this contract: Deepwater Invictus, Deepwater Asgard, Deepwater Conqueror, Deepwater Proteus or Deepwater Thalassa. The commencement window is February 1, 2026 to September 1, 2026. |
Deepwater Skyros | 3 | 1,250 | 2013 | Angola | TotalEnergies | Firm | Dec-22 | Mar-25 | 310,000 | |
| 3 | | | Angola | TotalEnergies | Firm | Mar-25 | Jan-26 | 400,000 | |
Discoverer Inspiration | | 1,130 | 2010 | | | Idle | | | | Idle Apr-23 |
Deepwater Corcovado | 2, 3 | 1,000 | 2011 | Brazil | Petrobras | Firm | Sep-23 | Sep-27 | 394,000 | |
Deepwater Mykonos | 2, 3 | 1,000 | 2011 | Brazil | Petrobras | Firm | Oct-23 | Oct-25 | 366,000 | |
Deepwater Orion | 2, 3 | 1,000 | 2011 | Brazil | Petrobras | Firm | Mar-24 | Mar-27 | 407,000 | |
Dhirubhai Deepwater KG2 | 2, 3 | 1,000 | 2010 | Brazil | Petrobras | Firm | Jun-24 | May-26 | 429,000 | |
Petrobras 10000 | | 1,000 | 2009 | Brazil | Petrobras | Out of Service | Jul-24 | Aug-24 | - | 42 days |
| 1, 2 | | | Brazil | Petrobras | Firm | Aug-24 | Oct-24 | 385,000 | Dayrate excludes 5% royalty for dual activity patent. |
| 1, 2 | | | Brazil | Petrobras | Firm | Oct-24 | Oct-25 | 397,000 | Dayrate excludes 5% dual activity royalty; patent expires in May 2025. |
| 1, 2 | | | Brazil | Petrobras | Firm | Oct-25 | Oct-26 | 409,000 | |
| 1, 2 | | | Brazil | Petrobras | Firm | Oct-26 | Oct-27 | 421,000 | |
| 1, 2 | | | Brazil | Petrobras | Firm | Oct-27 | Oct-28 | 433,000 | |
| 1, 2 | | | Brazil | Petrobras | Firm | Oct-28 | Aug-29 | 446,000 | |
Dhirubhai Deepwater KG1 | | 1,000 | 2009 | India | ONGC | Firm | May-24 | Feb-26 | 347,500 | |
Ocean Rig Apollo | | 1,250 | 2015 | | | Stacked | | | | Stacked May-16 |
Ocean Rig Athena | | 1,250 | 2014 | | | Stacked | | | | Stacked Mar-17 |
Ocean Rig Mylos | | 1,250 | 2013 | | | Stacked | | | | Stacked Sep-16 |
Discoverer India | | 1,130 | 2010 | | | Stacked | | | | Stacked Jul-20 |
Discoverer Americas | | 1,130 | 2009 | | | Stacked | | | | Stacked Apr-16 |
Discoverer Clear Leader | | 1,130 | 2009 | | | Stacked | | | | Stacked Jun-19 |
Deepwater Champion | | 1,000 | 2011 | | | Stacked | | | | Stacked Feb-16 |
Discoverer Luanda | | 750 | 2010 | | | Stacked | | | | Stacked Feb-18 |
Semisubmersibles (2) | | | | | | | | | | |
Development Driller III | | 1,000 | 2009 | | | Idle | | | | Idle Aug-23 |
GSF Development Driller I | | 1,000 | 2005 | | | Stacked | | | | Stacked Nov-20 |
| | | | | | | | | | |
| | | | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | | | |
Estimated Average Contract Dayrates (4) | $440,000 | $431,000 | $432,000 | $436,000 | | | | |||
| | | | | | | | | | |
Harsh Environment Floaters (8) | | | | | | | | | | |
Semisubmersibles (8) | | | | | | | | | | |
Transocean Norge | 2, 3 | 1,000 | 2019 | Norway | Wintershall DEA/OMV | Firm | Apr-24 | Sep-24 | 375,000 | The order of the wells is subject to change. |
| 2, 3 | | | Norway | Wintershall DEA/OMV | Firm | Sep-24 | Dec-24 | 425,000 | The order of the wells is subject to change. |
| 2, 3 | | | Norway | Wintershall DEA/OMV | Firm | Dec-24 | Dec-24 | 375,000 | The order of the wells is subject to change. |
| 2, 3 | | | Norway | Wintershall DEA/OMV | Firm | Jan-25 | Dec-25 | 430,000 | |
| 2, 3 | | | Norway | Wintershall DEA/OMV | Firm | Jan-26 | Dec-27 | 435,000 | |
| 2, 3 | | | Norway | Wintershall DEA/OMV | Firm | Jan-28 | Apr-28 | 517,000 | |
Transocean Spitsbergen | 1, 2, 3 | 1,000 | 2010 | Norway | Equinor | Firm | Nov-23 | Jan-25 | 341,000 | |
| | | | Norway | Equinor | Out of Service | Jan-25 | Mar-25 | - | 70 days |
| 1, 2, 3 | | | Norway | Equinor | Firm | Mar-25 | Jul-25 | 341,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Jul-25 | Oct-25 | 381,000 | |
| 1, 2, 3 | | | Norway | Equinor | Firm | Oct-25 | Mar-26 | 483,000 | |
Transocean Barents | 1 | 1,000 | 2009 | Romania | OMV Petrom S.A. | Firm | Feb-25 | Jul-26 | 465,000 | |
| 1 | | | Romania | OMV Petrom S.A. | Priced Option | Jul-26 | Aug-26 | 480,000 | |
| 1 | | | Romania | OMV Petrom S.A. | Priced Option | Aug-26 | Sep-26 | 480,000 | |
Transocean Enabler | 1, 2, 3 | 750 | 2016 | Norway | Equinor | Firm | Jul-24 | Dec-25 | 398,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Dec-25 | Jan-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Jan-26 | Feb-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Feb-26 | Mar-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Mar-26 | Apr-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Apr-26 | May-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | May-26 | Jun-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Jun-26 | Jul-26 | 438,000 | |
| 1, 2, 3 | | | Norway | Equinor | Priced Option | Jul-26 | Aug-26 | 438,000 | |
Transocean Encourage | 1, 2, 3 | 750 | 2016 | Norway | Equinor | Firm | Jul-24 | Aug-25 | 371,000 | |
| 1, 2, 3 | | | Norway | Not Disclosed | Firm | Aug-25 | Aug-26 | 473,000 | |
Transocean Endurance | | 750 | 2015 | Australia | Woodside | Firm | Mar-24 | Apr-25 | 380,000 | |
| | | | Australia | Woodside | Firm | Apr-25 | Jun-25 | 390,000 | |
| | | | Australia | Woodside | Priced Option | Jun-25 | Aug-25 | 390,000 | |
| | | | Australia | Woodside | Priced Option | Aug-25 | Oct-25 | 390,000 | |
| | | | Australia | Woodside | Priced Option | Oct-25 | Apr-26 | 390,000 | |
Transocean Equinox | | 750 | 2015 | Australia | Not Disclosed | Firm | Apr-24 | Apr-25 | 455,000 | |
| | | | Australia | Not Disclosed | Priced Option | Apr-25 | Jun-25 | 455,000 | |
| | | | Australia | Not Disclosed | Firm | Jul-25 | Oct-25 | 485,000 | |
| | | | Australia | Not Disclosed | Priced Option | Oct-25 | Oct-25 | 520,000 | |
| | | | Australia | Not Disclosed | Firm | Oct-25 | Aug-26 | 485,000 | |
| | | | Australia | Not Disclosed | Priced Option | Aug-26 | Oct-26 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Oct-26 | Dec-26 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Dec-26 | Feb-27 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Feb-27 | Apr-27 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Apr-27 | May-27 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | May-27 | Jul-27 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Jul-27 | Aug-27 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Aug-27 | Sep-27 | 510,000 | |
| | | | Australia | Not Disclosed | Priced Option | Sep-27 | Oct-27 | 520,000 | |
| | | | Australia | Not Disclosed | Priced Option | Oct-27 | Nov-27 | 520,000 | |
| | | | Australia | Not Disclosed | Priced Option | Nov-27 | Dec-27 | 485,000 | |
| | | | Australia | Not Disclosed | Priced Option | Dec-27 | Feb-28 | 520,000 | |
| | | | Australia | Not Disclosed | Priced Option | Feb-28 | Jun-28 | 540,000 | |
| | | | Australia | Not Disclosed | Priced Option | Jun-28 | Jun-28 | 485,000 | |
| | | | Australia | Not Disclosed | Priced Option | Jun-28 | Jul-28 | 485,000 | |
| | | | Australia | Not Disclosed | Priced Option | Jul-28 | Aug-28 | 540,000 | |
| | | | Australia | Not Disclosed | Priced Option | Aug-28 | Sep-28 | 540,000 | |
Henry Goodrich | | 750 | 1985/2007 | | | Stacked | | | | Stacked Mar-20 |
| | | | | | | | | | |
| | | | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | | | |
Estimated Average Contract Dayrates (4) | $387,000 | $393,000 | $411,000 | $402,000 | | | | |||
| | | | | | | | | | |
| |
| Revisions Noted in Bold |
Footnotes | |
| |
(1) | Dayrate could change in the future due to cost escalations or de-escalations. |
(2) | Dayrate includes a foreign currency component. |
(3) | The contract has a bonus incentive opportunity that is not reflected in the contract dayrate. |
(4) | Estimated Average Contract Dayrate is defined as the average contracted full operating dayrate to be earned per revenue earning day. |
| |
Disclaimers & Definitions | |
| |
The information contained in this Fleet Status Report (the “Information”) is as of the date of the report only and is subject to change without notice to the recipient. Transocean Ltd. assumes no duty to update any portion of the Information. | |
| |
DISCLAIMER. NEITHER TRANSOCEAN LTD. NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED “AS IS.” Neither Transocean Ltd. nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of cause, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom. | |
| |
No Unauthorized Publication or Use. All information provided by Transocean in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Transocean. | |
| |
Customer Contract Duration, Timing and Dayrates and Risks Associated with Operations. The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension and delays for a variety of reasons, including some beyond the control of Transocean. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Transocean. Our customer contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in our filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC’s website at www.sec.gov. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, shipyards or recharges. | |
| |
Contract backlog. The maximum contractual operating dayrate multiplied by the number of days remaining in the firm contract period, excluding revenues for mobilization, demobilization, contract preparation, other incentive provisions or reimbursement revenues, which are not expected to be material to our contract drilling revenues. The contract backlog represents the maximum contract drilling revenues that can be earned considering the contractual operating dayrate in effect during the firm contract period. | |
| |
Out of Service. The time associated with committed shipyards, upgrades, surveys, repairs, regulatory inspections, contract preparation or other committed activity on the rig and is not expected to earn an operating dayrate, Contract preparation refers to periods during which the rig is undergoing modifications or upgrades as a result of contract requirements. | |
• | The references included in this Fleet Status Report may not be firm and could change significantly based on a variety of factors. Any significant changes to our estimates of out of service time will be reflected in subsequent Fleet Status Reports, as applicable. |
• | In some instances such as certain mobilizations, upgrades and shipyards, we are paid compensation by our customers that is generally recognized over the life of the primary contract term of the drilling contract. |
| |
Forward-Looking Statement. The statements made in the Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements made in the Fleet Status Report include, but are not limited to, statements involving the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations and planned shipyard projects and other out of service time. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, shipyard delays, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, Transocean’s ability to enter into and the terms of future contracts, the availability of qualified personnel, labor relations and the outcome of negotiations with unions representing workers, operating hazards, factors affecting the duration of contracts including well-in-progress provisions, the actual amount of downtime, factors resulting in reduced applicable dayrates, hurricanes and other weather conditions, terrorism, political and other uncertainties inherent in non-U.S. operations (including the risk | |
of war, civil disturbance, seizure or damage of equipment and exchange and currency fluctuations), the impact of governmental laws and regulations, the adequacy of sources of liquidity, the effect of litigation and contingencies and other factors described above and discussed in Transocean’s most recently filed Form 10-K, in Transocean’s Forms 10-Q for subsequent periods and in Transocean’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements, except as required by law. | |
| |
Fleet Classifications. Transocean uses classifications for its drillships and semisubmersibles as follows: “Ultra-Deepwater” are the latest generation of drillships and semisubmersible rigs and are capable of drilling in water depths equal to or greater than 7,500 feet; “Harsh Environment” are premium rigs equipped for year-round operations in harsh environments. | |
| |
Stacking. An "Idle" rig is primarily between contracts, readily available for operations, and operating costs are typically at or near normal levels. A "Stacked" rig, on the other hand, is primarily manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity. However, stacked rigs will continue to incur operating costs at or above normal operating costs for approximately 30 days following initiation of stacking. | |