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Vernier, Switzerland-based drilling contractor Transocean (NYSE: RIG) (SIX: RIGN) issued their monthly fleet update summary today with a fair bit of good news.
Since their last update in August, their total backlog associated with new contracts or extensions increased by approximately $1.7 billion. Of that number, $652 million can be attributed to the 3-year contract awarded to the ultra-deepwater newbuild drillship, Deepwater Invictus. At a dayrate of $595,000, this rig is expected to commence operations in the second quarter of 2014 upon delivery from South Korea’s DSME shipyard and customer acceptance. The Deepwater Invictus will be capable of operating in water depths up to 12,000 feet and drilling wells up to 40,000 feet deep. Per the customer’s request, this newbuild will also include a second blow-out preventer system. The rig is one of two ultra-deepwater newbuild drillships acquired in the October 2011 Aker Drilling ASA transaction.
Day rates on the increase
Two deepwater floaters, the Jim Cunningham and Discoverer 534, which were previously stacked and held for sale, were sold. The details of the transactions however, have not been disclosed.
On September 10, 2012, Transocean committed to discontinue operations in the standard jackup and swamp barge markets. All standard jackups and the swamp barge are currently held for sale.
Out of Service Time Increased
Estimated out of service time for 2012 increased by a net 36 days, primarily due to unexpected repairs on a Harsh Environment semisubmersible. The increase in 2013 estimated out of service time of a net 151 days includes 86 days (57 percent) related to the acceleration of shipyards from 2014 and 45 days (30 percent) associated with the preparation of rigs for new or potential contracts.
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