SEC Filing | Transocean Ltd.

Fleet Status

Report

April 14, 2011

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Form 8-K

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): April 14, 2011

TRANSOCEAN LTD.

(Exact name of registrant as specified in its charter)

Switzerland

000-53533

98-0599916

(State or other jurisdiction of

incorporation or organization)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

10 Chemin de Blandonnet

1214 Vernier, Geneva

Switzerland

CH-1214

(Address of principal executive offices)

(zip code)

Registrant’s telephone number, including area code: +41 (22) 930-9000

(Former name or former address, if changed since last report)

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 (see General Instruction A.2. below):

¨	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))

Item 7.01

Regulation FD Disclosure

We issue a report entitled “Transocean Fleet Status Report,” which includes drilling rig status and contract information, including contract dayrate and duration. A report dated April 14, 2011 is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. You may subscribe to the free Transocean Financial Report Alert which will alert you to new Transocean fleet updates. This service will send you an automated email which will provide a link directly to the web page containing the fleet updates. You may subscribe to this service at the “Investor Relations/Email Alerts” section of the site by selecting “Receive E-mail” and providing your email address. Our website may be found at www.deepwater.com.

Item 9.01.

Financial Statements and Exhibits

(d) Exhibits.

The exhibit to this report furnished pursuant to item 7.01 is as follows:


Exhibit No.		Description

99.1		Transocean Ltd. Fleet Status Report

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.

Date: April 14, 2011	By	/s/ Eric J. Christ
		Eric J. Christ
		Authorized Person

Index to Exhibits


Exhibit Number		Description

99.1		Transocean Ltd. Fleet Status Report

Transocean Ltd. Fleet Status Report

Exhibit 99.1

LOGO

Transocean Ltd. (NYSE: RIG), (SIX: RIGN)


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned *


	Floater Type		Yr. ⁽¹⁾ Entered Service		Water Depth (Feet)		Drilling Depth (Feet)						Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Dayrate on Previous Contract ⁽³⁾ (Dollars)
									Location		Customer											Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name									Location		Customer											Q1 2011		Q2 2011		Q3 2011		Q4 2011

*Rigs Under Construction (4)*

Deepwater Champion ⁽⁶⁾		ship*		TBA		12,000		40,000		See Footnote 11		ExxonMobil		See Footnote 11		See Footnote 11		See Footnote 11			N/A		—		—		—		—
Keppel FELS Super B Class Jackup TBN1				TBA		350		35,000		Thailand		Chevron		See Footnote 12		See Footnote 12		See Footnote 12			N/A		—		—		—		—
Keppel FELS Super B Class Jackup TBN2				TBA		350		35,000		Thailand		Chevron		See Footnote 13		See Footnote 13		See Footnote 13			N/A		—		—		—		—
Transocean Honor				TBA		400		30,000		See Footnote 14		See Footnote 14		See Footnote 14		See Footnote 14		See Footnote 14			N/A		—		—		—		—

*High Specification Floaters:*
*Ultra-Deepwater (26)*

Discoverer Americas⁽⁶⁾		ship*		2009		12,000		40,000		USGOM		Statoil		Mar-11		Feb-14		486,000			486,000		—		—		—		—
Discoverer Clear Leader^(6), (15)		ship*		2009		12,000		40,000		USGOM		Chevron		Sep-10		Jul-14		503,000			503,000		—		14		—		—
Discoverer Inspiration⁽⁶⁾		ship*		2010		12,000		40,000		USGOM		Chevron		Sep-10		Feb-15		494,000			494,000		—		—		—		—
Dhirubhai Deepwater KG1⁽¹⁶⁾		ship*		2009		12,000		35,000		India		Reliance		Aug-09		Jul-14		510,000			N/A		—		—		8		—
Dhirubhai Deepwater KG2 ⁽¹⁶⁾		ship*		2010		12,000		35,000		India		Reliance		Mar-10		Feb-15		510,000			N/A		—		—		5		—
Discoverer India⁽¹⁷⁾		ship*		2010		12,000		40,000		India		Reliance		Dec-10		Nov-20		508,000			N/A		—		—		—
Petrobras 10000 ^{(6), (7), (8)}		ship*		2009		12,000		37,500		Brazil		Petrobras		Feb-11		Aug-19		442,000			N/A		—		—		—		—
Discoverer Deep Seas⁽⁶⁾		ship*		2001		10,000		35,000		USGOM		Chevron		Feb-11		Feb-13		450,000			517,000		42		—		—		—
Discoverer Enterprise⁽⁶⁾		ship*		1999		10,000		35,000		USGOM		BP		Jan-11		Jul-12		435,000			523,000		—		—		—		—
Discoverer Spirit⁽⁶⁾		ship*		2000		10,000		35,000		USGOM		Anadarko		Dec-07		Apr-11		507,000			298,000		—		—		—		—
														Apr-11		Apr-14		520,000			507,000
GSF C.R. Luigs⁽⁶⁾		ship*		2000		10,000		35,000		USGOM		BHP Billiton		Sep-09		Feb-14		519,000			411,000		—		—		—		—
GSF Jack Ryan ⁽⁶⁾		ship*		2000		10,000		35,000		Nigeria		Total		Jun-09		Jul-13		425,000			297,000		15		32		—		—
Deepwater Discovery ^{(6), (7)}		ship*		2000		10,000		30,000		Brazil		Devon		Oct-09		Jan-14		463,000			425,000		90		44		—		—
Deepwater Frontier		ship*		1999		10,000		30,000		India		Reliance		Feb-11		May-11		477,000			477,000		—		10		92		8
										Australia		ExxonMobil		Sep-11		Nov-13		475,000	⁽⁶⁾		477,000
Deepwater Millennium⁽⁶⁾		ship*		1999		10,000		30,000		Ghana		Anadarko		Nov-10		Jul-11		576,000			543,000		—		—		—		—
										Brazil		Anadarko		Jul-11		May-13		561,000	⁽⁷⁾		576,000
Deepwater Pathfinder ⁽⁶⁾		ship*		1998		10,000		30,000		USGOM		Eni		Aug-10		Apr-15		659,000			550,000		51		—		—		—
Deepwater Expedition		ship*		1999		8,500		30,000		Malaysia		Petronas/BHP		Dec-10		Jan-14		640,000	⁽⁶⁾		375,000		16		—		—		—
Cajun Express^{(6), (7), (18)}		semi*		2001		8,500		35,000		Brazil		Petrobras		May-10		Jun-13		542,000			493,000		—		—		—		—
Deepwater Nautilus⁽⁶⁾		semi*		2000		8,000		30,000		USGOM		Shell		Dec-08		Jul-12		550,000			493,000		—		—		—		—
GSF Explorer		ship*		1972/1998		7,800		30,000		Indonesia		Marathon-led Consortium		May-10		Jul-12		510,000			426,000		—		—		—		—
Discoverer Luanda ^{(6), (28)}		ship*		2010		7,500		40,000		Angola		BP		Jan-11		Jan-18		430,000			N/A		—		—		—		—
GSF Development Driller I ⁽⁶⁾		semi*		2005		7,500		37,500		USGOM		BHP Billiton		Jun-08		Oct-12		513,000			220,000		—		—		—		—
GSF Development Driller II ⁽⁶⁾		semi*		2005		7,500		37,500		USGOM		BP		Nov-08		Nov-13		580,000			208,000		88		—		—		—
Development Driller III ⁽⁶⁾		semi*		2009		7,500		37,500		USGOM		BP		Nov-09		Nov-16		403,000			N/A		—		—		14		—
Sedco Energy		semi*		2001		7,500		35,000		Canary Islands													31		75		—		—
Sedco Express ⁽⁶⁾		semi*		2001		7,500		35,000		Israel		Noble Energy		Sep-10		Dec-11		530,000			188,000		—		—		—		—
										Israel		Israel Oil Company		Apr-12		Jun-12		490,000			530,000

																Total Estimated Days Out of Service							333		175		119		8

																Estimated Average Contract Dayrate⁽⁵⁾						$	502,000	$	515,000	$	517,000	$	515,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned *


	Floater		Yr. ⁽¹⁾ Entered		Water Depth		Drilling Depth						Estimated Contract Start		Estimated Expiration		Dayrate on Current Contract ⁽³⁾			Dayrate on Previous Contract ⁽³⁾		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type		Service		(Feet)		(Feet)		Location		Customer		Date ⁽²⁾		Date ⁽²⁾		(Dollars)			(Dollars)		Q1 2011		Q2 2011		Q3 2011		Q4 2011
*Deepwater (16)*

Deepwater Navigator ^{(7), (8)}		ship*		1971/2000		7,200		25,000		Brazil		Petrobras		May-11		Feb-17		379,000			190,000		90		91		30		—
Discoverer 534		ship*		1975/1991		7,000		25,000		Malaysia						Idle							—		—		—		—
Discoverer Seven Seas		ship*		1976/1997		7,000		25,000		India		ONGC		Jul-08		Jun-11		316,000			292,000		—		—		—		—
Transocean Marianas ⁽⁶⁾		semi		1979/1998		7,000		25,000		Ghana		Eni		Feb-11		Dec-12		450,000			565,000		—		—		—		—
Sedco 706 ^{(6), (7)}		semi*		1976/1994/ 2008		6,500		25,000		Brazil		Chevron		Apr-09		Apr-14		311,000			N/A		—		—		—		14

Sedco 702 ^{(6), (7)}		semi*		1973/2007		6,500		25,000		Nigeria		Shell		Mar-08		Feb-12		354,000			N/A		14		7		—		—
Sedco 707 ^{(7), (8)}		semi*		1976/1997		6,500		25,000		Brazil		Petrobras		Nov-09		Mar-15		405,000			188,000		—		—		—		—
GSF Celtic Sea		semi		1982/1998		5,750		25,000		Angola		ExxonMobil		May-11		May-12		320,000			486,000		40		58		—		—
										Angola		ExxonMobil		May-12		May-13		324,000			320,000
										Angola		ExxonMobil		May-13		May-14		328,000			324,000
Jack Bates		semi		1986/1997		5,400		30,000		Australia		Hess		Sep-10		Apr-11		420,000			375,000		—		41		61		—
										Australia		Hess		Aug-11		Mar-12		380,000			420,000

Sedco 709		semi*		1977/1999		5,000		25,000		Malaysia						Stacked							—		—		—		—
M.G. Hulme, Jr.		semi		1983/1996		5,000		25,000		Malaysia						Idle							—		—		—		—
Transocean Richardson		semi		1988		5,000		25,000		Malaysia						Stacked							—		—		—		—
Jim Cunningham		semi		1982/1995		4,600		25,000		Malaysia						Stacked							—		—		—		—
Sedco 710 ^{(7), (8)}		semi*		1983/2001		4,500		25,000		Brazil		Petrobras		Oct-10		Jan-17		292,000			128,000		—		—		—		—
Transocean Rather		semi		1988		4,500		25,000		Angola		ExxonMobil		Sep-10		May-11		428,000			257,000		—		—		—		—
														May-11		Jun-11		437,000			428,000
														Jun-11		Aug-11		256,000			437,000
														Aug-11		Sep-12		437,000			256,000
Sovereign Explorer		semi		1984		4,500		25,000		USGOM						Stacked							—		—		—		—


														Total Estimated Days Out of Service									144		197		91		14

														Estimated Average Contract Dayrate⁽⁵⁾								$	375,000	$	367,000	$	357,000	$	371,000

*Harsh Environment (5)*

Henry Goodrich ⁽⁶⁾		semi		1985/2007		5,000		30,000		Canada		Husky		Oct-10		Jan-14		335,000			381,000		—		—		—		31
Transocean Leader ^{(6), (7)}		semi		1987/1997		4,500		25,000		NNS		Statoil		Sep-09		Feb-12		468,000			340,000		—		—		—		—
														Feb-12		Feb-15		402,000			468,000
Paul B. Loyd, Jr. ^{(6), (7)}		semi		1990		2,000		25,000		UKNS		BP		Apr-09		Mar-12		509,000			312,000		85		—		—		—
														Mar-12		Mar-13		345,000			509,000
Transocean Arctic ^{(6), (7)}		semi		1986		1,650		25,000		NNS		Statoil		Jan-07		Apr-12		297,000			195,000		—		—		—		—
										NNS		Rig Management Norway		May-12		Apr-13		390,000	⁽²⁰⁾		297,000
Polar Pioneer ^{(6), (7)}		semi		1985		1,500		25,000		NNS		Statoil		Feb-10		Jan-14		513,000			309,000		—		—		—		—


														Total Estimated Days Out of Service									85		—		—		31

														Estimated Average Contract Dayrate⁽⁵⁾								$	403,000	$	424,000	$	424,000	$	431,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned *



Rig Type/Name	Floater	Yr. ⁽¹⁾Entered	Water Depth		Drilling Depth				Estimated Contract Start		Estimated Expiration		Dayrate on Current Contract ⁽³⁾			Dayrate on Previous Contract ⁽³⁾		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type	Service	(Feet)		(Feet)		Location	Customer	Date ⁽²⁾		Date ⁽²⁾		(Dollars)			(Dollars)		Q1 2011		Q2 2011		Q3 2011		Q4 2011
*Midwater Floaters (25)*

Sedco 700	semi	1973/1997		3,600		25,000	Malaysia					Stacked							—		—		—		—
Transocean Legend	semi	1983		3,500		25,000	Aus./Timor Leste	Eni		Jun-10		Sep-11		315,000			300,000		7		20		—		—
Transocean Amirante^{(6), (21)}	semi	1978/1997		3,500		25,000	USGOM	Eni		Jul-08		May-11		364,000			325,000		—		—		—		—
GSF Arctic I ^{(6), (7)}	semi	1983/1996		3,400		25,000	Brazil	Starfish		Jan-11		Jul-11		250,000			287,000		14		—		—		47
C. Kirk Rhein, Jr.	semi	1976/1997		3,300		25,000	Malaysia					Stacked							—		—		—		—
Transocean Driller ^{(7), (8)}	semi	1991		3,000		25,000	Brazil	Petrobras		Jul-10		Jul-16		268,000			116,000		—		—		—		—
GSF Rig 135	semi	1983		2,800		25,000	Nigeria	Addax Petroleum		Apr-11		Jun-11		264,000			N/A		59		29		—		—
							Nigeria	Addax Petroleum		Jun-11		Sep-11		254,000	⁽²⁷⁾		264,000
GSF Rig 140 ⁽⁶⁾	semi	1983		2,800		25,000	Eq. Guin.	ExxonMobil		Dec-09		May-11		435,000			256,000		—		10		—		—
Falcon 100^{(7), (8)}	semi	1974/1999		2,400		25,000	Brazil	Petrobras		Mar-08		Mar-13		259,000			180,000		35		89		—		—
GSF Aleutian Key	semi	1976/1999/ 2001		2,300		25,000	Gabon					Stacked							—		—		—		—
Sedco 703	semi	1973/1995		2,000		25,000	Malaysia					Stacked							—		—		—		—
Sedco 711⁽⁷⁾	semi	1982		1,800		25,000	UKNS	Shell		Jan-11		Oct-11		419,000			383,000		—		—		—		—
Transocean John Shaw ⁽⁷⁾	semi	1982		1,800		25,000	UKNS	Enquest		Jan-11		Jul-11		244,000			228,000		—		—		—		—
GSF Arctic III ^{(6), (7)}	semi	1984		1,800		25,000	UKNS	ExxonMobil		Jul-10		Aug-11		254,000			N/A		—		—		—		—
Sedco 712	semi	1983		1,600		25,000	UKNS					Stacked							—		—		—		—
Sedco 714 ⁽⁷⁾	semi	1983/1997		1,600		25,000	UKNS	Total		Dec-10		Jun-11		255,000			394,000		—		—		—		—
										Jun-11		Dec-11		253,000			255,000
GSF Grand Banks ^{(6) (8)}	semi	1984		1,500		25,000	Canada	Husky		Jan-11		Jan-13		295,000			356,000		—		—		—		—
Actinia	semi	1982		1,500		25,000	Malaysia					Idle							—		—		—		—
Sedco 601	semi	1983		1,500		25,000	Malaysia					Stacked							—		—		—		—
Sedneth 701	semi	1972/1993		1,500		25,000	Gabon	Harvest Natural Resources		Apr-11		May-11		210,000			N/A		—		—		—		—
Transocean Winner ^{(6), (7)}	semi	1983		1,500		25,000	NNS	Lundin		Apr-10		Oct-12		481,000			390,000		—		—		61		12
Transocean Searcher ^{(6), (7)}	semi	1983/1988		1,500		25,000	NNS	Statoil		May-09		Apr-12		432,000			395,000		—		—		—		—
							NNS	BG		May-12		Jul-13		380,000	⁽²⁹⁾		432,000
Transocean Prospect ⁽⁷⁾	semi	1983/1992		1,500		25,000	UKNS	ADTI		Feb-11		Apr-11		See Footnote 9			N/A		29		—		—		—
J.W. McLean	semi	1974/1996		1,250		25,000	UKNS					Stacked							—		—		—		—
Sedco 704	semi	1974/1993		1,000		25,000	UKNS	ADTI		Jan-11		Aug-11		See Footnote 9			417,000		—		—		—		—
							UKNS	ADTI		Aug-11		Sep-11		See Footnote 9			See Footnote 9

												Total Estimated Days Out of Service							144		148		61		59

												Estimated Average Contract Dayrate⁽⁵⁾						$	318,000	$	321,000	$	309,000	$	332,000


*High Specification Jackups (9)*

GSF Constellation I ⁽⁶⁾		2003		400		30,000	Gabon	Total		Dec-10		Mar-12		100,000			110,000		26		—		—		—
GSF Constellation II ⁽²²⁾		2004		400		30,000	Egypt	Pharonic Petroleum Company		Feb-10		Oct-11		109,000			194,000		59		—		—		—
GSF Galaxy I		1991/2001		400		30,000	UKNS					Stacked							—		—		—		—
GSF Galaxy II		1998		400		30,000	UKNS												—		45		—		—
GSF Galaxy III ^{(6), (7)}		1999		400		30,000	UKNS	Nexen		Oct-07		Sep-11		110,000			100,000		—		—		—		—
							UKNS	Nexen		Sep-11		Sep-12		148,000			110,000
GSF Baltic ^{(6), (7)}		1983		375		25,000	Nigeria	ExxonMobil		Jun-10		Jun-12		100,000			248,000		—		—		—		—
GSF Magellan		1992		350		30,000	Holland												66		53		—		—
GSF Monarch⁽⁶⁾		1986		350		30,000	Denmark	Maersk Oil		Jun-11		Jun-12		93,000			N/A		—		—		—		—
GSF Monitor		1989		350		30,000	Nigeria	Total		Mar-11		Jun-11		110,000			N/A		69		—		—		—

												Total Estimated Days Out of Service							220		98		—		—

												Estimated Average Contract Dayrate⁽⁵⁾						$	112,000	$	105,000	$	102,000	$	110,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned *


Rig Type/Name	Floater	Yr. ⁽¹⁾ Entered	Water Depth		Drilling Depth				Estimated Contract Start		Estimated Expiration		Dayrate on Current Contract ⁽³⁾			Dayrate on Previous Contract ⁽³⁾			Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Type	Service	(Feet)		(Feet)		Location	Customer	Date ⁽²⁾		Date ⁽²⁾		(Dollars)			(Dollars)			Q1 2011		Q2 2011		Q3 2011		Q4 2011
*Standard Jackups (52) - See Footnote 19*

Trident IX		1982		400		21,000	Malaysia					Idle								—		—		—		—
Trident 17		1983		300		25,000	Malaysia					Stacked								—		—		—		—
GSF Adriatic II		1981		350		25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic IX		1981		350		25,000	Nigeria	Afren		Jan-11		Jul-11		92,000			90,000			—		—		—		—
							Nigeria	Afren		Jul-11		Jul-12		100,000			92,000									—
GSF Adriatic X		1982		350		30,000	Egypt													90		69
GSF Key Manhattan		1980		350		25,000	Italy	Eni		Apr-10		Apr-13		137,000			N/A			—		—		—		—
GSF Key Singapore		1982		350		25,000	Egypt					Stacked								—		—		—		—
GSF Adriatic VI		1981		328		25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic VIII		1983		328		25,000	Gabon					Stacked								—		—		—		—
C.E. Thornton ⁽⁷⁾		1974		300		25,000	India	ONGC		Oct-08		Oct-11		131,000			45,000			—		—		—		—
D.R. Stewart		1980		300		25,000	Croatia					Stacked								—		—		—		—
F.G. McClintock		1975		300		25,000	India	ONGC		Oct-08		Sep-11		145,000			50,000			—		—		—		—
G.H. Galloway		1984		300		25,000	Croatia					Stacked								—		—		—		—
GSF Adriatic I		1981		300		25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic V		1979		300		25,000	Gabon					Stacked								—		—		—		—
GSF Adriatic XI		1983		300		25,000	Malaysia					Stacked								—		—		—		—
GSF Compact Driller		1992		300		25,000	Thailand	Chevron		Oct-09		Apr-12		100,000	⁽²³⁾		196,000			—		11				—
										Apr-12		Dec-12		100,000			100,000	⁽²³⁾
GSF Galveston Key		1978		300		25,000	Vietnam	Cuu Long JOC		Mar-10		Mar-11		100,000			202,000			—		—		—		—
							Vietnam	Cuu Long JOC		Mar-11		Nov-11		103,000			100,000
GSF Key Gibraltar		1976/1996		300		25,000	Thailand	Chevron		Jul-11		Jul-14		105,000	⁽²³⁾		N/A			90		76		9		—
GSF Key Hawaii		1982		300		25,000	Qatar	Maersk Oil		Apr-10		Apr-11		70,000			N/A			—		—		—		—
GSF Main Pass I		1982		300		25,000	Saudi Arabia	Saudi Aramco		Jul-07		Jun-11		164,000			100,000			—		—		—		—
GSF Main Pass IV		1982		300		25,000	Saudi Arabia	Saudi Aramco		Aug-07		Jul-11		164,000			100,000			—		—		—		—
GSF Parameswara		1983		300		20,000	Indonesia	Total		Nov-09		Dec-12		122,000			168,000			—		—		—		—
GSF Rig 134		1982		300		20,000	Malaysia					Stacked								—		—		—		—
GSF Rig 136		1982/1999/ 2002		300		25,000	Malaysia					Stacked								—		—		—		—
Harvey H. Ward		1981		300		25,000	Malaysia					Idle								—		—		—		—
Interocean III		1978/1993		300		25,000	Egypt					Stacked								—		—		—		—
J.T. Angel		1982		300		25,000	India	ONGC		May-10		May-13		65,000			N/A			—		14		—		—
Randolph Yost		1979		300		25,000	India					Stacked								—		—		—		—
Roger W. Mowell		1982		300		25,000	Malaysia					Stacked								—		—		—		—
Ron Tappmeyer		1978		300		25,000	India	ONGC		Jun-10		Jun-13		65,000			64,000			—		—		—		30
Transocean Shelf Explorer		1982		300		20,000	Malaysia					Stacked								—		—		—		—
Transocean Nordic		1984		300		25,000	Malaysia					Stacked								—		—		—		—
Trident 15		1982		300		25,000	Thailand	Chevron		Feb-10		Feb-12		100,000	⁽²⁴⁾		100,000			—		—		—		—
										Feb-12		Jun-13		100,000			100,000	⁽²⁴⁾
Trident 16 ⁽⁶⁾		1982		300		25,000	Vietnam	Petronas Carigali		Feb-08		Apr-11		189,000			195,000			—		14		—		—
							Malaysia	Petronas Carigali		Apr-11		Jul-11		180,000			189,000									—
Trident II		1977/1985		300		25,000	India	ONGC		Mar-10		Apr-15		78,000			140,000			—		—		—		14
Trident IV-A		1980/1999		300		25,000	Gabon					Stacked								—		—		—		—
Trident VIII		1981		300		21,000	Gabon	Perenco		Nov-10		Aug-11		85,000			83,000			—		—		—		—
Trident XII		1982/1992		300		25,000	India	ONGC		May-10		May-13		65,000			140,000			—		30		—		—
Trident XIV⁽⁷⁾		1982/1994		300		25,000	Angola	Chevron		Jan-11		May-11		154,000			151,000			—		—		—		—
GSF High Island II		1979		270		20,000	Saudi Arabia	Saudi Aramco		Jul-07		Jul-11		164,000			100,000			—		—		—		—
GSF High Island IV		1980/2001		270		20,000	Saudi Arabia	Saudi Aramco		May-07		Apr-11		164,000			107,000			—		—		—		—
GSF High Island V		1981		270		20,000	Gabon					Stacked								—		—		—		—
GSF High Island IX		1983		250		20,000	Ghana					Stacked								—		—		—		—
GSF High Island VII		1982		250		20,000	Nigeria	Afren		Dec-10		Sep-11		88,000			88,000			—		10		—		—
GSF Rig 103		1974		250		20,000	Egypt					Stacked								—		—		—		—
GSF Rig 105		1975		250		20,000	Egypt	Petrobel		Jan-11		Feb-12		62,000			112,000			—		—		—		—
GSF Rig 124		1980		250		20,000	Egypt					Idle								—		—		—		—
GSF Rig 127		1981		250		20,000	Bahrain					Stacked								—		—		—		—
GSF Rig 141		1982		250		20,000	Egypt					Idle								—		—		—		—
Transocean Comet		1980		250		20,000	Egypt	GUPCO		Sep-09		Sep-11		50,000			112,000			—		—		—		—
Trident VI		1981		220		21,000	Malaysia					Stacked								—		—		—		—

										Total Estimated Days Out of Service										180		224		9		44

										Estimated Average Contract Dayrate⁽⁵⁾									$	111,000	$	110,000	$	99,000	$	94,000


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold
Dynamically positioned *

Rig Type/Name

Floater
Type

Yr. ⁽¹⁾
Entered
Service

Water
Depth
(Feet)

Drilling
Depth
(Feet)

Location

Customer

Estimated
Contract
Start
Date ⁽²⁾

Estimated
Expiration
Date ⁽²⁾

Dayrate on
Current
Contract ⁽³⁾
(Dollars)

Dayrate on
Previous
Contract ⁽³⁾
(Dollars)

Estimated Out of Service
Days ⁽⁴⁾

Q1
2011

Q2
2011

Q3
2011

Q4
2011

Swamp Barges (2)

Searex 4

1981/1989

25,000

Singapore

Stacked

—

Hibiscus ^{(6), (25)}

1979/1993

20,000

Indonesia

Total

Oct-07

Nov-12

72,000

74,000

—

Other (1)

Joides Resolution ^{(6), (26)}

ship*

1978

27,000

30,000

Worldwide

TAMRF

Jan-09

Nov-13

68,000

35,000

—

Fixed-Price Options ⁽¹⁰⁾

High Specification Floaters:

Ultra-Deepwater

Discoverer Enterprise ⁽⁶⁾

ship*

1999

10,000

35,000

USGOM

Aug-12

Jan-13

435,000

GSF Explorer

ship*

1972/1998

7,800

30,000

Indonesia

Marathon-led Consortium

Jul-12

Oct-12

510,000

Harsh Environment

Transocean Leader ^{(6), (7)}

semi

1987/1997

4,500

25,000

NNS

Statoil

Feb-15

Feb-16

390,000

Paul B. Loyd, Jr. ^{(6), (7)}

semi

1990

2,000

25,000

UKNS

Mar-13

Jun-13

345,000

Jun-13

Sep-13

345,000

Transocean Arctic ^{(6), (7),
(20)}

semi

1986

1,650

25,000

NNS

Rig Management Norway

Apr-13

Dec-13

395,000

390,000

NNS

Rig Management Norway

Dec-13

Dec-14

399,000

395,000

Midwater Floaters

Transocean Legend

semi

1983

3,500

25,000

Aus./Timor Leste

Eni

Sep-11

Mar-12

298,000

315,000

GSF Rig 135

semi

1983

2,800

25,000

Nigeria

Addax Petroleum

Aug-11

Jan-12

254,000

⁽²⁷⁾

254,000

Transocean Searcher ^{(6), (7)}

semi

1983/1988

1,500

25,000

NNS

Jul-13

Jan-15

370,000

⁽²⁹⁾

380,000

High Specification Jackups

GSF Constellation II ⁽²²⁾

2004

400

30,000

Egypt

Pharaonic Petroleum Company

Oct-11

Jan-12

115,000

109,000

Mar-12

Sep-12

100,000

115,000

GSF Galaxy III ^{(6), (7)}

1999

400

30,000

UKNS

Nexen

Sep-12

Mar-13

148,000

GSF Monarch ⁽⁶⁾

1986

350

30,000

Denmark

Maersk Oil

Jun-12

Sep-12

93,000

Sep-12

Dec-12

93,000

Dec-12

Mar-13

93,000

Mar-13

Jun-13

93,000

GSF Monitor

1989

350

30,000

Nigeria

Total

Jun-11

Oct-11

110,000

Standard Jackups

Transocean Comet

1980

250

20,000

Egypt

GUPCO

Sep-11

Oct-12

50,000

110,000

Other

Joides Resolution ⁽⁶⁾

ship*

1978

27,000

30,000

Worldwide

TAMRF

Nov-13

Sep-23

68,000

Revenue Efficiency

Revenue Efficiency is defined as actual contract drilling revenue divided by the highest amount of total contract drilling revenue which could have been earned during the relevant period(s) expressed as a percentage. Revenue Efficiency measures how much revenue we have earned against our maximum potential revenue per the contract. Revenue Efficiency does not apply during Out of Service Days (Shipyard, Mobilizations, Demobilizations, Contract Preparation). The following table has been restated for Caspian Sea discontinued operations.


	Q4 2010 Actual			Q3 2010 Actual			Q2 2010 Actual			Q1 2010 Actual			Q4 2009 Actual			Q3 2009 Actual			Q2 2009 Actual			Q1 2009 Actual
Ultra Deepwater		86.1	%		86.5	%		89.1	%		92.2	%		92.2	%		92.7	%		97.7	%		95.3	%
Deepwater		88.6	%		90.1	%		92.8	%		89.7	%		91.9	%		91.3	%		83.2	%		92.3	%
Harsh Environment Floaters		96.1	%		96.4	%		96.9	%		94.8	%		97.7	%		97.2	%		97.9	%		97.9	%
Midwater Floaters		85.0	%		96.2	%		93.9	%		94.7	%		95.1	%		97.4	%		91.9	%		91.0	%
High Specification Jackups		97.7	%		93.3	%		98.9	%		92.5	%		98.2	%		94.7	%		94.7	%		97.3	%
Standard Jackups		98.9	%		96.4	%		97.3	%		97.1	%		93.7	%		98.4	%		95.3	%		97.0	%
Others		96.1	%		99.6	%		98.5	%		99.5	%		98.7	%		84.8	%		99.5	%		93.2	%

Total Fleet		88.7	%		91.8	%		92.8	%		93.2	%		93.5	%		95.0	%		93.1	%		94.4	%


Estimated Contract Drilling Revenue can be calculated as:		Paid Days on Contract * Average Contract Dayrate * Revenue Efficiency


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold

Stacked Rigs


Rig Type/Name		Start Date
*Deepwater (4)*

Sedco 709		Prior to 2010
Jim Cunningham		5/13/2010
Sovereign Explorer		11/1/2010
Transocean Richardson		3/15/2011

*Midwater Floaters (7)*

Sedco 700		Prior to 2010
C. Kirk Rhein, Jr.		Prior to 2010
GSF Aleutian Key		1/9/2010
Sedco 703		Prior to 2010
Sedco 712		Prior to 2010
Sedco 601		4/9/2011
J.W. McLean		4/13/2011

*High Specification Jackups (1)*

GSF Galaxy I		Prior to 2010

*Standard Jackups (23)*

Trident 17		Prior to 2010
GSF Adriatic II		Prior to 2010
GSF Key Singapore		10/21/2010
GSF Adriatic VI		Prior to 2010
GSF Adriatic VIII		7/3/2010
D.R. Stewart		8/7/2010
G.H. Galloway		Prior to 2010
GSF Adriatic I		Prior to 2010
GSF Adriatic V		Prior to 2010
GSF Adriatic XI		Prior to 2010
GSF Rig 134		5/3/2010
GSF Rig 136		Prior to 2010
Interocean III		Prior to 2010
Randolph Yost		9/15/2010
Roger W. Mowell		8/29/2010
Transocean Shelf Explorer		Prior to 2010
Transocean Nordic		Prior to 2010
Trident IV-A		Prior to 2010
GSF High Island V		Prior to 2010
GSF High Island IX		Prior to 2010
GSF Rig 103		Prior to 2010
GSF Rig 127		Prior to 2010
Trident VI		Prior to 2010

*Swamp Barges (1)*

Searex 4		Prior to 2010

*Idle Rigs*

Rig Type/Name		Start Date

*Deepwater (2)*

Discoverer 534		9/6/2010
M. G. Hulme, Jr.		6/22/2010

*Midwater Floaters (2)*

Actinia		11/19/2010

*Standard Jackups (4)*

Harvey H. Ward		10/6/2010
GSF Rig 124		6/21/2010
Trident IX		12/29/2010
GSF Rig 141		3/27/2011

Stacked and Idle rigs detailed above are not currently operating on contract. Start date denotes when rig commences idle or stacked status.

An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels. A “Stacked” rig, on the other hand, is 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 30 to 60 days following initiation of stacking.


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report
Updated: April 14, 2011
Revisions to Fleet Status Report Noted in Bold

Footnotes

⁽¹⁾	Dates shown are the original service date and the date of the most recent upgrade, if any.

⁽²⁾

As of April 2, 2009, Estimated Contract Start and Estimated Expiration Dates are calculated as follows: (1) for events estimated to occur between the 1st and 15th of a month, the previous month is reported (i.e. a contract which is estimated to commence on May 4, 2009 will be reported as commencing in April 2009) and (2) for events estimated to occur between the 16th and the end of a month, the actual month is reported (i.e. a contract which is estimated to commence on May 24, 2009 will be reported as commencing in May 2009). Expiration dates represent the company’s current estimate of the earliest date the contract for each rig is likely to expire. Some rigs have two or more contracts in continuation, so the last line shows the estimated earliest availability. Many contracts permit the customer to extend the contract.

⁽³⁾

Represents the full operating dayrate, although the average dayrate over the term of the contract will be lower and could be substantially lower. Does not reflect incentive programs which are typically based on the rig’s operating performance against a performance curve. Please refer to the “Customer Contract Duration and Dayrates and Risks Associated with Operations” section of the Disclaimers & Definitions for a description of dayrates. This column may not reflect the rate currently being received under the contract as a result of an applicable standby rate or other rate, which typically is less than the contract dayrate.

⁽⁴⁾

The out of service time represents those days where a rig is scheduled to be out of service and not be available to earn an operating dayrate. Please refer to the “Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation)” section of the Disclaimers & Definitions for a full description.

⁽⁵⁾	Estimated Average Contract Dayrate is defined as the average contracted full operating dayrate to be earned per revenue earning day. See note (3) for definition of full operating dayrate.

⁽⁶⁾

Reflects the current contracted dayrate which could reflect prior cost escalations and could change in the future due to further cost escalations.

⁽⁷⁾	Reflects the current contracted dayrate which is comprised of a foreign currency component and which could change due to foreign exchange adjustments.

⁽⁸⁾	Current contract provides for a bonus incentive opportunity not reflected in the stated current contract dayrate.

⁽⁹⁾

For the period of time that this rig is contracted to Applied Drilling Technology International, the drilling management services division of the company’s U.K. operating subsidiary, or Applied Drilling Technology Inc., the company’s U.S. drilling management services subsidiary, accounting rules require that we eliminate the revenues and costs related to those contracts from the contract drilling segment of the consolidated statement of operations. Revenues from turnkey contracts will be recognized in other revenues and are contingent upon successful completion of the well program.

⁽¹⁰⁾

Fixed price options may be exercised at the customer’s discretion. During periods when dayrates on new contracts are increasing relative to existing contracts, the likelihood of customers’ exercising fixed price options increases. During periods when dayrates on new contracts are decreasing relative to existing contracts, the likelihood of customers’ exercising fixed price options declines.

⁽¹¹⁾

We have been awarded a five-year drilling contract by ExxonMobil which requires the construction and operation of a Gusto MSC/P 10,000 design drillship to be named Deepwater Champion. Operations are expected to commence during the second quarter of 2011, after shipyard construction followed by sea trials, mobilization, and customer acceptance. The contract commencement date is contingent on Transocean vendor performance and other factors. During the first year of the contract, the Deepwater Champion is expected to operate in Turkey (Black Sea) at $703,000. Subsequent operating location is yet to be determined, and the dayrate under the contract could change depending on the country of future operations. For example, the dayrate could change to $640,000 or $650,000 if the operating location of the rig is moved to the USGOM or Brazil, respectively.

⁽¹²⁾

We have been awarded a five-year drilling contract by Chevron which requires the construction and operation of a yet to be named Keppel FELS Super B Class Jackup. Operations are expected to commence during the first quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first 36 months of the contract, the contract dayrate is $135,000, excluding escalation. The dayrate may be adjusted for the remaining 24 months based on market dayrates within specific parameters.

⁽¹³⁾

We have been awarded a five-year drilling contract by Chevron which requires the construction and operation of a yet to be named Keppel FELS Super B Class Jackup. Operations are expected to commence during the third quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first 36 months of the contract, the contract dayrate is $135,000, excluding escalation. The dayrate may be adjusted for the remaining 24 months based on market dayrates within specific parameters.

⁽¹⁴⁾	In November 2010 we agreed to purchase a Pacific Class 400 design jackup to be named Transocean Honor. Construction of the jackup is expected to be completed in the fourth quarter of 2011. We are actively marketing the jackup.

⁽¹⁵⁾

Until August 2012, the contract dayrate is $469,000, subject to cost escalation. The dayrate for the remainder of the contract is linked to the standard West Texas Intermediate crude oil price with a floor of $40 per barrel resulting in a contract dayrate of $400,000 and a ceiling of $70 per barrel resulting in a contract dayrate of $500,000, subject to cost escalation.

⁽¹⁶⁾

We own a 50 percent interest in this ultra-deepwater Samsung-design drillship through a joint venture company with Quantum Pacific Group.

⁽¹⁷⁾

The customer may elect to have the operating dayrate for the last five years of the contract fluctuate based on crude oil price with a floor of $458,250 corresponding to a crude oil price of less than or equal to $50 per barrel, and a ceiling of $558,250 corresponding to a crude oil price of $100 per barrel or greater.

⁽¹⁸⁾

The customer has the right to convert the three-year contract to a five-year contract until April 30, 2011.

⁽¹⁹⁾

GSF Britannia and GSF Labrador are classified as held for sale. Transocean will no longer include these rigs in the Fleet Status Report.

⁽²⁰⁾	The contract with Rig Management Norway led consortium permits the rig to drill HPHT well(s) at $400,000 and to drill well(s) in the Barents Sea, Norway at $425,000. The contract also guarantees a minimum average dayrate of $403,000 during the firm term.

⁽²¹⁾	Since NTL 4 and declaration of the moratorium in the Gulf of Mexico, we have had a disagreement with the operator regarding the applicable rates under the drilling contract. We are currently in discussions with the customer to resolve these differences.

⁽²²⁾	The contract includes three optional wells. The first optional well has a dayrate of $115,000. The dayrate for the second and third optional well will be adjusted based on market dayrates within specific parameters.

⁽²³⁾	Dayrate is fixed for first 6 months then subject to quarterly adjustment based on market dayrates within specific parameters.

⁽²⁴⁾	Dayrate subject to annual adjustment based on market dayrates within specific parameters.

⁽²⁵⁾	Owned by a joint venture in which the company owns an 80 percent interest. Dayrate indicated reflects 100 percent of contract rate.

⁽²⁶⁾

Operated under a management contract with the rig’s owner. The rig is currently engaged in scientific geological coring activities and is owned by an unconsolidated joint venture in which a subsidiary of the company has a 50 percent interest. The dayrate disclosed herein reflects 100 percent of the contracted rate. The company’s 50 percent interest in the joint venture’s earnings is included in other income in its consolidated statement of operations.

⁽²⁷⁾	The dayrate for the June 2011 to September 2011 period and the entire option period will be $254,000 if the customer exercises both options included in the option period.

⁽²⁸⁾	We own a 65 percent interest in this enhanced Enterprise-class drillship Discoverer Luanda through a joint venture company with Angco Cayman Limited.

⁽²⁹⁾	The dayrate for the entire contract duration will become $370,000, excluding escalation and foreign currency component adjustment, if the customer exercises the option.


Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

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.

Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation). Changes in estimated out of service time are noted where changes in the time Transocean anticipates that a rig is scheduled to be out of service and not be available to earn an operating dayrate have changed by a period of 30 days or longer for High Specification Floaters or 60 days or longer for all other rig classifications since the previously issued Monthly Fleet Update Summary or Comprehensive Fleet Status Report. The changes to estimated out of service time included in this Fleet Status 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 Monthly Fleet Updates and Comprehensive Fleet Status Reports, as applicable.

Contract Preparation refers to periods during which the rig is undergoing modifications or upgrades as a result of contract requirements. Shipyards refers to periods during which the rig is out of service as a result of other scheduled shipyards, surveys, repairs, regulatory inspections or other scheduled service or work on the rig. In some instances such as certain mobilizations, demobilizations, upgrades and shipyards, we are paid compensation by our customers that is generally recognized over the life of the underlying contract, although such compensation is not typically significant in relation to the revenue generated by the dayrates we charge our customers.

Forward-Looking Statement. The statements made in the Fleet Update 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 Update 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 Classification. Transocean uses a rig classification for its semisubmersible rigs and drillships to reflect the company’s strategic focus on the ownership and operation of premium, high specification floating rigs. The rig classification “High Specification Floaters” is comprised of “Ultra-Deepwater” which refers to the latest generation of semisubmersible rigs and drillships possessing the latest technical drilling capabilities and the ability to operate in water depths equal to or greater than 7,500 feet, “Deepwater” which refers to semisubmersible rigs and drillships that possess the ability to drill in water depths equal to or greater than 4,500 feet, and “Harsh Environment” comprised of five of the company’s premium harsh environment rigs, the semisubmersibles Henry Goodrich, Transocean Leader, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The category titled “Midwater Floaters” represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet. The jackup fleet is subdivided into two categories; “High Specification” which consists of harsh environment and high performance jackups and “Standard”.

Stacking. An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels. A “Stacked” rig, on the other hand, is 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 30 to 60 days following initiation of stacking.