Transocean Delays Drillships at DSME

Transocean drillship Deepwater Thalassa under construction at DSME. Photo: Lappino

  Drilling contractor Transocean announced Monday that the delivery of two newbuild drillships currently under construction in South Korea will be delayed by 12 months each. The newbuilds impacted are the ultra-deepwater drillships Deepwater Pontus and Deepwater Poseidon. Trancocean said it has reached agreements with its customer Shell and the shipyard Daewoo … [Read more...]

Transocean Linked to Petrobras Bribery Scandal for First Time

Petrobras 1000 drillship

  By Peter Millard and Yasmine Batista (Bloomberg) -- Transocean Ltd., the world’s largest offshore rig contractor, is being linked for the first time to the corruption probe of Petroleo Brasileiro SA, the state-owned energy giant at the center of Brazil’s biggest corporate scandal. A former executive at Brazil’s state-run oil company has testified to receiving … [Read more...]

Hard-Hit Transocean Looks to Scrap Dividend

Transocean's Discoverer Americas drillship. Photo (c) MarineTraffic/

  By Joe Carroll (Bloomberg) -- Transocean Ltd., the offshore oil-rig operator that lost two-thirds of its value in the past year, plans to cancel its dividend and record 2 billion Swiss francs ($2.1 billion) in asset impairments as free-falling crude prices slash demand for drilling vessels. Transocean said it will host an extraordinary general meeting of … [Read more...]

Transocean Settles All Deepwater Horizon Claims With BP

Deepwater Horizon burns in the Gulf of Mexico, April 21, 2010. Photo: U.S. Coast Guard

By David Wethe and Margaret Cronin Fisk (Bloomberg) -- Transocean Ltd., owner of the rig that sank in the 2010 Macondo disaster in the Gulf of Mexico, joined Halliburton Co. in settling all remaining issues with BP Plc. Transocean and BP, the well’s owner, will mutually release all claims against each other, while the London-based exploration and production company will pay … [Read more...]

Statoil Renegotiates for the Discoverer Americas as Transocean’s Deepwater Asgard Arrives in the GoM

Transocean drilling deepwater asgard

In Transocean's latest fleet update summary released this afternoon, their 6th generation drill ship Discoverer Americas will be officially heading back to the Gulf of Mexico this summer after her contract was renegotiated with Statoil.  Its current day rate, while operating off the coast of Tanzania is $735,000 per day, however in May, her new rate has been reduced to $611,000 … [Read more...]

Seadrill and Transocean Report Better Than Expected Earnings As Darkness Looms

Discoverer Americas' Bridge, a 6th Generation Drillship

OSLO, Feb 26 (Reuters) - The world's biggest offshore drillers reported plunging earnings and orders on Thursday but managed to get a grip on costs to improve their chances of riding out a sectoral crisis that could last several more years. Transocean made a net loss in the fourth quarter while rival Seadrill's bottom line nearly halved as both wrote down the value of their … [Read more...]