SEC Filing | Transocean Ltd.

View:

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): January 4, 2005 TRANSOCEAN INC. (Exact name of registrant as specified in its charter) CAYMAN ISLANDS 333-75899 66-0582307 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 4 GREENWAY PLAZA HOUSTON, TEXAS 77046 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (713) 232-7500 (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)) 1

ITEM 7.01. REGULATION FD DISCLOSURE. Transocean Inc. (the "Company") issues a monthly report entitled "Monthly Fleet Update," which includes drilling rig status and contract information, including contract dayrate and duration. This month's report is dated as of January 4, 2005 and is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. You may also subscribe to the free Transocean Financial Report Alert which will alert you to new Monthly Fleet Updates. This service will send you an automated email which will provide a link directly to the web page containing the updated report. You may subscribe to this service at the "Investor Relations / Email Alerts" section of the site by selecting "Transocean Financial Report Alert" and providing your email address. The Company's website may be found at www.deepwater.com. The statements made in the Monthly 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 Monthly Fleet Update include, but are not limited to, statements involving the estimated duration of client contracts, contract dayrate amounts and future contract commencement dates and locations. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore and U.S. inland marine oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, the Company'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, political and other uncertainties inherent in non-U.S. operations (including the risk of war and 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 the Company's Form 10-K for the year ended December 31, 2003 and in the Company'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. The information in Item 7.01 of this report, including Exhibit 99.1, is being furnished, not filed. Accordingly, the information in Item 7.01 of this report will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Company that the information in this 2

report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. The following exhibit is furnished pursuant to Item 7.01: EXHIBIT NUMBER DESCRIPTION - -------------- ----------- 99.1 Transocean Inc. Monthly Fleet Update 3

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 thereunto duly authorized. TRANSOCEAN INC. Date: January 4, 2005 By: /s/ William E. Turcotte ---------------------------------- Name: William E. Turcotte Title: Associate General Counsel 4

INDEX TO EXHIBITS Exhibit Number Description - -------------- ----------- 99.1 Transocean Inc. Monthly Fleet Update 5

TRANSOCEAN Transocean Inc. (NYSE: RIG) Monthly Fleet Update The information contained in this Monthly Fleet Update report (the "Information") is as of the date of the report only and is subject to change without notice to the recipient. Transocean Inc. assumes no duty to update any portion of the Information. DISCLAIMER. NEITHER TRANSOCEAN INC. 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 Inc. 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 Inc. - -- ------------ ----------- -- --- 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 Inc. Client Contract Duration and Dayrates and Risks Associated with Operations. The - ------ -------- -------- --- -------- --- ----- ---------- ---- ---------- duration of the client contracts is the estimated duration only, and client contracts are subject to cancellation or suspension for a variety of reasons, including some beyond the control of Transocean Inc. 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 Inc. Our client 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. Forward-Looking Statement - -------------------------- The statements made in the Monthly 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 Monthly Fleet Update include, but are not limited to, statements involving the estimated duration of client contracts, contract dayrate amounts, and future contract commencement dates and locations. 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, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, possible cancellation or suspension of letters of intent, the Company'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, political and other uncertainties inherent in non-U.S. operations (including the risk of war and 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 the Company's Form 10-K for the most recently completed fiscal year, in the Company's Forms 10-Q for subsequent periods and in the Company'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. Fleet Classification. Transocean Inc. 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 Fleet," is comprised of "5th Generation 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 in excess of 7,000 feet, "Other 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 "Other High Specification," comprised of four of the company's premium harsh environment rigs, the semisubmersibles Henry Goodrich, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The category titled "Other Floaters" represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet. Transocean Inc. Fleet Page 1

TRANSOCEAN Transocean Inc. (NYSE: RIG) Monthly Fleet Update Updated : January 4, 2005 NEW FIRM CONTRACTS AND CONTRACT EXTENSIONS NOTED IN BOLD CURRENT Dynamically positioned * FLOATER YR. ENTERED WATER DRILLING CONTRACT RIG TYPE/NAME TYPE SERVICE (1) DEPTH (FT.) DEPTH LOCATION CLIENT START/IDLE DATE ------- ----------- ----------- -------- ----------- ----------------- --------------- HIGH SPECIFICATION FLOATERS: 5th Generation Deepwater (13) - ----------------------------- Discoverer Deep Seas ship * 2001 10,000 35,000 USGOM ChevronTexaco Jan-01 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- USGOM Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- USGOM ChevronTexaco Jan-06 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Discoverer Enterprise ship * 1999 10,000 35,000 USGOM BP Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Discoverer Spirit ship * 2000 10,000 35,000 USGOM Unocal Sep-00 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Discovery ship * 2000 10,000 30,000 Nigeria ExxonMobil Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Ivory Coast VANCO JAN-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Nigeria Jul-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Frontier ship * 1999 10,000 30,000 Brazil Petrobras Mar-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Brazil Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Millennium ship * 1999 10,000 30,000 USGOM Anadarko Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Pathfinder ship * 1998 10,000 30,000 Nigeria Devon Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Expedition(9) ship * 1999 10,000 30,000 Brazil Petrobras Oct-99 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Horizon semi * 2001 10,000 30,000 USGOM BP Sep-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Cajun Express semi * 2001 8,500 25,000 USGOM Dominion Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- USGOM ChevronTexaco Jun-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Deepwater Nautilus(4) semi 2000 8,000 30,000 USGOM Shell Jun-00 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- USGOM Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco Energy semi * 2001 7,500 25,000 Nigeria ChevronTexaco Nov-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco Express(9) semi * 2001 7,500 25,000 Brazil Petrobras Jan-03 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Brazil Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Angola BP May-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Other Deepwater (15) - ----------------------------- Deepwater Navigator ship * 2000 7,200 25,000 Brazil Petrobras Sep-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Brazil Apr-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Discoverer 534 ship * 1975/1991 7,000 25,000 India RELIANCE DEC-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Discoverer Seven Seas ship * 1976/1997 7,000 25,000 India ONGC Feb-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Marianas semi 1998 7,000 25,000 USGOM Murphy Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- USGOM BP APR-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 707(9) semi * 1976/1997 6,500 25,000 Brazil Petrobras Feb-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Jack Bates semi 1986/1997 5,400 30,000 Australia Woodside Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Australia Woodside Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Peregrine I(5) ship * 1996 5,280 25,000 Brazil Apr-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 709 semi * 1977/1999 5,000 25,000 Ivory Coast CNR Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Nigeria Mar-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- M.G. Hulme, Jr.(6) semi 1983/1996 5,000 25,000 Nigeria Nov-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Richardson semi 1988 5,000 25,000 Ivory Coast CNR Oct-03 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Jim Cunningham semi 1982/1995 4,600 25,000 Malta Oct-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Egypt BG Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 710(9) semi * 1983 4,500 25,000 Brazil Petrobras Oct-01 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Rather semi 1988 4,500 25,000 UKNS Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BP FEB-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BP OCT-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BP DEC-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Leader(10) semi 1987/1997 4,500 25,000 Norway Statoil Jul-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sovereign Explorer semi 1984 4,500 25,000 Venezuela Statoil Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Trinidad BG Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Other High Specification (4) - ----------------------------- Henry Goodrich semi 1985 2,000 30,000 E. Canada Terra Nova Feb-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- E. Canada Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Paul B. Loyd, Jr. semi 1987 2,000 25,000 UKNS BP Mar-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BP Mar-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Arctic semi 1986 1,650 25,000 NNS Statoil Aug-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Polar Pioneer semi 1985 1,500 25,000 NNS Statoil Nov-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- CURRENT PREVIOUS ESTIMATED CONTRACT CONTRACT RIG TYPE/NAME EXPIRATION (2) DAYRATE(3) DAYRATE(3) --------------------------------------- ---------- ---------- HIGH SPECIFICATION FLOATERS: 5th Generation Deepwater (13) - ----------------------------- Discoverer Deep Seas Jan-06 $ 205,000 N/A - ----------------------------- --------------------------------------- ---------- ---------- planned 14-day shipyard program $ 205,000 - ----------------------------- --------------------------------------- ---------- ---------- Jan-07 $ 240,000 $ 205,000 - ----------------------------- --------------------------------------- ---------- ---------- Discoverer Enterprise Dec-07 $ 182,500 $ 198,600 - ----------------------------- --------------------------------------- ---------- ---------- Discoverer Spirit Sep-05 $ 204,000 N/A - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Discovery Jan-05 $ 170,000 $ 165,000 - ----------------------------- --------------------------------------- ---------- ---------- MAR-05 $ 195,000 $ 170,000 - ----------------------------- --------------------------------------- ---------- ---------- planned 14-day shipyard program $ 170,000 - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Frontier Jan-06 $ 145,000 $ 158,000 - ----------------------------- --------------------------------------- ---------- ---------- planned 14-day shipyard program $ 145,000 - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Millennium May-05 $ 200,000 $ 195,000 - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Pathfinder Apr-06 $ 190,000 $ 175,000 - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Expedition(9) Oct-05 $ 135,000 N/A - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Horizon Sep-05 $ 165,000 $ 200,000 - ----------------------------- --------------------------------------- ---------- ---------- Cajun Express May-05 $ 140,000 $ 125,000 - ----------------------------- --------------------------------------- ---------- ---------- Jun-07 $ 207,300 $ 140,000 - ----------------------------- --------------------------------------- ---------- ---------- Deepwater Nautilus(4) Jun-05 $ 201,800 N/A - ----------------------------- --------------------------------------- ---------- ---------- planned 14-day shipyard program $ 201,800 - ----------------------------- --------------------------------------- ---------- ---------- Sedco Energy Mar-05 $ 175,000 $ 186,400 - ----------------------------- --------------------------------------- ---------- ---------- Sedco Express(9) Jan-05 $ 125,000 $ 110,000 - ----------------------------- --------------------------------------- ---------- ---------- 105 day shipyard program / mob - ----------------------------- --------------------------------------- ---------- ---------- May-08 $ 165,000 $ 125,000 - ----------------------------- --------------------------------------- ---------- ---------- Other Deepwater (15) - ----------------------------- Deepwater Navigator Mar-05 $ 99,300 $ 94,300 - ----------------------------- --------------------------------------- ---------- ---------- planned 30-day shipyard program $ 99,300 - ----------------------------- --------------------------------------- ---------- ---------- Discoverer 534 JAN-05 $ 95,000 $ 110,000 - ----------------------------- --------------------------------------- ---------- ---------- Discoverer Seven Seas Feb-07 $ 125,000 $ 125,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Marianas Apr-05 $ 150,000 $ 90,000 - ----------------------------- --------------------------------------- ---------- ---------- DEC-05 $ 180,000 $ 150,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 707(9) Nov-05 $ 100,000 $ 100,000 - ----------------------------- --------------------------------------- ---------- ---------- Jack Bates Feb-05 $ 125,000 $ 125,000 - ----------------------------- --------------------------------------- ---------- ---------- Dec-05 $ 89,000 $ 125,000 - ----------------------------- --------------------------------------- ---------- ---------- Peregrine I(5) idle $ 70,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 709 Apr-05 $ 80,000 $ 70,000 - ----------------------------- --------------------------------------- ---------- ---------- planned 21-day shipyard program - ----------------------------- --------------------------------------- ---------- ---------- M.G. Hulme, Jr.(6) idle $ 85,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Richardson Dec-05 $ 85,000 $ 45,000 - ----------------------------- --------------------------------------- ---------- ---------- Jim Cunningham 90 day shipyard program - repairs $ 65,000 - ----------------------------- --------------------------------------- ---------- ---------- Jul-05 $ 65,000 $ 65,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 710(9) Oct-06 $ 109,500 $ 71,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Rather 60 day shipyard program - cotract prep. $ 95,000 - ----------------------------- --------------------------------------- ---------- ---------- OCT-05 $ 165,000 $ 95,000 - ----------------------------- --------------------------------------- ---------- ---------- DEC-05 $ 190,000 $ 165,000 - ----------------------------- --------------------------------------- ---------- ---------- JAN-06 $ 165,000 $ 190,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Leader(10) Feb-06 $ 173,500 $ 107,500 - ----------------------------- --------------------------------------- ---------- ---------- Sovereign Explorer Feb-05 $ 65,000 $ 65,000 - ----------------------------- --------------------------------------- ---------- ---------- Aug-05 $ 65,000 $ 65,000 - ----------------------------- --------------------------------------- ---------- ---------- Other High Specification (4) - ----------------------------- Henry Goodrich Feb-05 $ 106,600 $ 116,600 - ----------------------------- --------------------------------------- ---------- ---------- planned 28-day shipyard program $ 106,600 - ----------------------------- --------------------------------------- ---------- ---------- Paul B. Loyd, Jr. Mar-05 $ 120,000 $ 107,500 - ----------------------------- --------------------------------------- ---------- ---------- Mar-07 $ 144,000 $ 120,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Arctic Mar-06 $ 168,000 $ 200,000 - ----------------------------- --------------------------------------- ---------- ---------- Polar Pioneer Jul-06 $ 170,000 $ 110,200 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Inc. Fleet Page 2

TRANSOCEAN Transocean Inc. (NYSE: RIG) Monthly Fleet Update Updated : January 4, 2005 NEW FIRM CONTRACTS AND CONTRACT EXTENSIONS NOTED IN BOLD CURRENT Dynamically positioned * FLOATER YR. ENTERED WATER DRILLING CONTRACT RIG TYPE/NAME TYPE SERVICE (1) DEPTH (FT.) DEPTH LOCATION CLIENT START/IDLE DATE ------- ----------- ----------- -------- ----------- ----------------- --------------- Other Floaters (25) - ----------------------------- Peregrine III ship * 1976 4,200 25,000 USGOM - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 700 semi 1973/1997 3,600 25,000 E. Guinea A. Hess Oct-03 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Legend semi 1983 3,500 25,000 Brazil May-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Amirante semi 1978/1997 3,500 25,000 USGOM ENI Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- C. Kirk Rhein, Jr. semi 1976/1997 3,300 25,000 USGOM Mar-02 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Driller(9) semi 1991 3,000 25,000 Brazil Petrobras Sep-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Falcon 100 semi 1974/1999 2,400 25,000 USGOM LLOG Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 703 semi 1973/1995 2,000 25,000 Australia ENI Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Australia BHPB Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Australia ENI Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Australia OMV MAR-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Australia Jun-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 711 semi 1982 1,800 25,000 UKNS Shell Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean John Shaw semi 1982 1,800 25,000 UKNS Encana Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 712 semi 1983 1,600 25,000 UKNS Nov-03 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 714 semi 1983/1997 1,600 25,000 UKNS BG Nov-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BG Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BG Feb-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BG Mar-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS BG Apr-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Actinia semi 1982 1,500 25,000 India Reliance Oct-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 600 semi 1983 1,500 25,000 Singapore Nov-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 601 semi 1983 1,500 25,000 Indonesia Santos Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Indonesia Unocal Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Indonesia SANTOS MAR-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedneth 701 semi 1972/1993 1,500 25,000 Angola ChevronTexaco Nov-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Angola CHEVRONTEXACO JAN-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 702 semi 1973/1992 1,500 25,000 Australia Apr-03 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Winner semi 1983 1,500 25,000 NNS Aug-02 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Searcher semi 1983/1988 1,500 25,000 NNS Statoil Aug-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Prospect semi 1983/1992 1,500 25,000 UKNS Oct-02 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Wildcat semi 1977/1985 1,300 25,000 UKNS Oct-01 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Transocean Explorer semi 1976 1,250 25,000 UKNS Jan-99 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- J.W. McLean semi 1974/1996 1,250 25,000 UKNS ConocoPhillips Aug-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 704 semi 1974/1993 1,000 25,000 UKNS Venture Dec-04 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS Venture Jan-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- UKNS Venture Mar-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- Sedco 706 semi 1976/1994 1,000 25,000 UKNS TOTAL JAN-05 - ----------------------------- ----------- ----------- -------- ----------- ----------------- --------------- CURRENT PREVIOUS ESTIMATED CONTRACT CONTRACT RIG TYPE/NAME EXPIRATION (2) DAYRATE(3) DAYRATE(3) --------------------------------------- ---------- ---------- Other Floaters (25) - ----------------------------- Peregrine III idle N/A - ----------------------------- --------------------------------------- ---------- ---------- Sedco 700 Jan-05 $ 84,000 $ 84,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Legend idle $ 55,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Amirante Aug-05 $ 86,800 $ 50,000 - ----------------------------- --------------------------------------- ---------- ---------- C. Kirk Rhein, Jr. idle $ 63,500 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Driller(9) Jul-06 $ 53,000 $ 52,000 - ----------------------------- --------------------------------------- ---------- ---------- Falcon 100 Jul-05 $ 85,000 $ 42,500 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 703 Jan-05 $ 75,000 $ 73,700 - ----------------------------- --------------------------------------- ---------- ---------- Feb-05 $ 75,000 $ 73,700 - ----------------------------- --------------------------------------- ---------- ---------- Mar-05 $ 75,000 $ 75,000 - ----------------------------- --------------------------------------- ---------- ---------- MAY-05 $ 83,000 $ 75,000 - ----------------------------- --------------------------------------- ---------- ---------- planned 14-day shipyard program $ 75,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 711 Dec-05 $ 50,000 $ 45,100 - ----------------------------- --------------------------------------- ---------- ---------- Transocean John Shaw May-05 $ 85,000 $ 60,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 712 idle $ 47,700 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 714 Jan-05 $ 45,000 $ 50,000 - ----------------------------- --------------------------------------- ---------- ---------- Feb-05 $ 47,000 $ 45,000 - ----------------------------- --------------------------------------- ---------- ---------- Mar-05 $ 50,000 $ 47,000 - ----------------------------- --------------------------------------- ---------- ---------- Apr-05 $ 55,000 $ 50,000 - ----------------------------- --------------------------------------- ---------- ---------- May-05 $ 60,000 $ 55,000 - ----------------------------- --------------------------------------- ---------- ---------- Actinia Jul-05 $ 54,000 $ 44,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 600 sale pending $ 60,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 601 Jan-05 $ 66,000 $ 56,000 - ----------------------------- --------------------------------------- ---------- ---------- Mar-05 $ 66,000 $ 66,000 - ----------------------------- --------------------------------------- ---------- ---------- MAY-05 $ 66,000 $ 66,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedneth 701 Jan-05 $ 70,000 $ 63,000 - ----------------------------- --------------------------------------- ---------- ---------- MAR-05 $ 73,000 $ 70,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 702 idle $ 80,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Winner idle $ 120,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Searcher May-05 $ 122,000 $ 103,800 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Prospect idle $ 98,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Wildcat idle $ 85,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Explorer idle $ 145,000 - ----------------------------- --------------------------------------- ---------- ---------- J.W. McLean Nov-05 $ 51,000 $ 60,000 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 704 Jan-05 $ 45,000 $ 47,000 - ----------------------------- --------------------------------------- ---------- ---------- Mar-05 $ 63,500 $ 45,000 - ----------------------------- --------------------------------------- ---------- ---------- Mar-06 $ 91,000 $ 63,500 - ----------------------------- --------------------------------------- ---------- ---------- Sedco 706 SEP-05 $ 78,000 $ 57,000 - ----------------------------- --------------------------------------- ---------- ---------- Transocean Inc. Fleet Page 3