Transocean Ltd. Announces $352.9 Million in New Rig Contracts, Options Exercised By Customers

Transocean Ltd. announced today that as the offshore drilling market continues to improve, the company is observing an increase in contract opportunities for its ultra-deepwater and harsh environment drilling services.

“Customer demand for the highest specification ultra-deepwater floaters now equals or exceeds the number of marketable rigs currently available in many areas,” said Transocean President and Chief Executive Officer Jeremy Thigpen. “As a result, new contracts more consistently reflect materially increased dayrates, which will generate significantly improved cash flow.”

Since its last Fleet Status Report issued in October 2019, the company has secured an additional $352.9 million of contract backlog from new contracts and extensions to existing contracts, as follows:

Rig Name	Customer	Location	Duration/ Days	Dayrate	Backlog Estimate	Contract Date
New Contracts

Leiv Eiriksson	ConocoPhillips	Norway	125	$	235,000	$	29,375,000	Nov. 2019
Discoverer Inspiration	Talos	USGOM	120	$	210,000	$	25,200,000	Dec. 2019
Deepwater Asgard	Beacon	USGOM	200	$	220,000	$	44,000,000	Dec. 2019
Development Driller III	Undisclosed	Trinidad	365	$	250,000	$	91,250,000	Dec. 2019
Dhirubhai Deepwater KG2	Woodside	Myanmar	180	$	250,000	$	45,000,000	Jan. 2020

Exercised Options

Deepwater Invictus	BHP	USGOM	365	$	155,000	$	56,575,000	Oct. 2017
Transocean Norge (Opt. 1)	Equinor	Norway	32	$	291,000	$	9,313,000	Sept. 2018
Transocean Norge (Opt. 2)	Equinor	Norway	32	$	291,000	$	9,313,000	Sept. 2018
Deepwater Nautilus	Petronas	Malaysia	180	$	140,000	$	25,200,000	Mar. 2019
Deepwater Asgard	Beacon	USGOM	74	$	240,000	$	17,760,000	Jan. 2020

			TOTAL ADDED	$	352,986,000