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): March 15, 2005
TRANSOCEAN
INC.
(Exact
name of registrant as specified in its charter)
|
Cayman
Islands |
333-75899 |
66-0582307 |
|
(State
or other jurisdiction of incorporation or organization) |
(Commission
File Number) |
(I.R.S.
Employer 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):
|
o |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425) |
|
o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
|
o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
|
o |
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 March 15, 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 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.
2
|
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: March 15, 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 |
1
 |
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
Inc. (NYSE: RIG) Monthly Fleet Update |
Updated : March 15,
2005
New Firm
Contracts and Contract Extensions Noted in Bold
|
Dynamically_positioned______  |
|
Rig
Type/Name |
Floater
Type |
Yr.
Entered
Service
(1) |
Water
Depth
(ft.) |
Drilling
Depth |
Location |
Client |
Current
Contract
Start/Idle
Date |
Estimated
Expiration
(2) |
Current
Contract Dayrate
(3) |
Previous
Contract
Dayrate
(3) | |
|
|
|||||||||||
|
High
Specification Floaters: |
|||||||||||
|
5th
Generation Deepwater (13) |
|||||||||||
|
Discoverer
Deep Seas |
ship |
|
2001 |
10,000 |
35,000 |
USGOM |
ChevronTexaco |
Jan-01 |
Jan-06 |
$205,000 |
N/A |
|
|
|
|
|
USGOM |
ChevronTexaco |
Jan-06 |
Jan-07 |
$240,000 |
$205,000 | ||
|
Discoverer
Enterprise |
ship |
|
1999 |
10,000 |
35,000 |
USGOM |
BP |
Dec-04 |
Dec-07 |
$182,500 |
$198,600 |
|
Discoverer
Spirit |
ship |
|
2000 |
10,000 |
35,000 |
USGOM |
Unocal |
Sep-00 |
Sep-05 |
$204,000 |
N/A |
|
|
|
|
|
USGOM |
Shell |
Sep-05 |
Mar-07 |
$270,000 |
$204,000 | ||
|
Deepwater
Discovery |
ship |
|
2000 |
10,000 |
30,000 |
Nigeria |
ExxonMobil |
Dec-04 |
Mar-05 |
$170,000 |
$165,000 |
|
|
|
|
|
Ivory
Coast |
Vanco |
Mar-05 |
Apr-05 |
$195,000 |
$170,000 | ||
|
|
|
|
|
Nigeria |
|
Jul-05 |
planned
14-day shipyard program |
|
$170,000 | ||
|
Deepwater
Frontier |
ship |
|
1999 |
10,000 |
30,000 |
Brazil |
Petrobras |
Mar-04 |
Mar-06 |
$145,000 |
$158,000 |
|
|
|
|
|
Brazil |
|
Apr-05 |
planned
14-day shipyard program |
|
$145,000 | ||
|
Deepwater
Millennium |
ship |
|
1999 |
10,000 |
30,000 |
USGOM |
Anadarko |
Dec-04 |
Jun-05 |
$200,000 |
$195,000 |
|
|
|
|
|
USGOM |
Anadarko |
Jun-05 |
Dec-05 |
$230,000 |
$200,000 | ||
|
Deepwater
Pathfinder |
ship |
|
1998 |
10,000 |
30,000 |
Nigeria |
Devon |
Dec-04 |
Apr-06 |
$190,000 |
$175,000 |
|
Deepwater
Expedition (9) |
ship |
|
1999 |
10,000 |
30,000 |
Brazil |
Petrobras |
Oct-99 |
Oct-05 |
$135,000 |
N/A |
|
|
|
|
|
Brazil |
|
Apr-05 |
planned 7-day
shipyard program |
|
$135,000 | ||
|
Deepwater
Horizon |
semi |
|
2001 |
10,000 |
30,000 |
USGOM |
BP |
Sep-04 |
Sep-05 |
$165,000 |
$200,000 |
|
Cajun
Express |
semi |
|
2001 |
8,500 |
25,000 |
USGOM |
Dominion |
Dec-04 |
May-05 |
$140,000 |
$125,000 |
|
|
|
|
|
USGOM |
ChevronTexaco |
Jun-05 |
Jun-07 |
$207,300 |
$140,000 | ||
|
Deepwater
Nautilus (4) |
semi |
|
2000 |
8,000 |
30,000 |
USGOM |
Shell |
Jun-00 |
Sep-05 |
$195,100 |
N/A |
|
|
|
|
|
USGOM |
Shell |
Sep-05 |
Sep-06 |
$220,000 |
$195,100 | ||
|
Sedco
Energy |
semi |
|
2001 |
7,500 |
25,000 |
Nigeria |
ChevronTexaco |
Nov-04 |
Apr-05 |
$175,000 |
$186,400 |
|
Sedco Express
(9) |
semi |
|
2001 |
7,500 |
25,000 |
Brazil |
|
Jan-05 |
105 day
shipyard program / mob |
|
$125,000 |
|
|
|
|
|
|
|
Angola |
BP |
May-05 |
May-08 |
$165,000 |
$125,000 |
|
Other
Deepwater (15) |
|||||||||||
|
Deepwater
Navigator |
ship |
|
2000 |
7,200 |
25,000 |
Brazil |
Petrobras |
Sep-04 |
Mar-05 |
$99,300 |
$94,300 |
|
|
|
|
|
Brazil |
|
Apr-05 |
planned
45-day shipyard program |
|
$99,300 | ||
|
Discoverer
534 |
ship |
|
1975/1991 |
7,000 |
25,000 |
India |
Reliance |
Jan-05 |
Mar-05 |
$98,300 |
$110,000 |
|
Discoverer
Seven Seas |
ship |
|
1976/1997 |
7,000 |
25,000 |
India |
ONGC |
Feb-04 |
Feb-07 |
$125,000 |
$125,000 |
|
Transocean
Marianas |
semi |
1998 |
7,000 |
25,000 |
USGOM |
Murphy |
Dec-04 |
Apr-05 |
$150,000 |
$90,000 | |
|
|
|
|
|
USGOM |
BP |
Apr-05 |
Nov-05 |
$180,000 |
$150,000 | ||
|
Sedco 707
(9) |
semi |
|
1976/1997 |
6,500 |
25,000 |
Brazil |
Petrobras |
Feb-04 |
Nov-05 |
$100,000 |
$100,000 |
|
|
|
|
|
Brazil |
|
Jul-05 |
planned
20-day shipyard program |
|
$100,000 | ||
|
Jack
Bates |
semi |
1986/1997 |
5,400 |
30,000 |
Australia |
Woodside |
Feb-05 |
Sep-05 |
$89,000 |
$125,000 | |
|
Peregrine I
(5) |
ship |
|
1996 |
5,280 |
25,000 |
Brazil |
|
Apr-04 |
idle |
|
$70,000 |
|
Sedco
709 |
semi |
|
1977/1999 |
5,000 |
25,000 |
Ivory
Coast |
CNR |
Jan-05 |
Apr-05 |
$80,000 |
$70,000 |
|
M.G. Hulme,
Jr. (6) |
semi |
|
1983/1996 |
5,000 |
25,000 |
Nigeria |
|
Nov-04 |
idle |
|
$85,000 |
|
Transocean
Richardson |
semi |
1988 |
5,000 |
25,000 |
Ivory
Coast |
CNR |
Oct-03 |
Dec-05 |
$85,000 |
$45,000 | |
|
Jim
Cunningham |
semi |
|
1982/1995 |
4,600 |
25,000 |
Egypt |
BG |
Feb-05 |
Aug-05 |
$65,000 |
$65,000 |
|
|
|
|
|
Egypt |
BG |
Sep-05 |
Mar-06 |
$155,000 |
$65,000 | ||
|
Sedco 710
(9) |
semi |
|
1983 |
4,500 |
25,000 |
Brazil |
Petrobras |
Oct-01 |
Oct-06 |
$109,500 |
$71,000 |
|
Transocean
Rather |
semi |
1988 |
4,500 |
25,000 |
UKNS |
BP |
Feb-05 |
Oct-05 |
$165,000 |
$95,000 | |
|
|
|
|
|
UKNS |
BP |
Oct-05 |
Dec-05 |
$190,000 |
$165,000 | ||
|
|
|
|
|
UKNS |
BP |
Dec-05 |
Feb-06 |
$165,000 |
$190,000 | ||
|
Transocean
Leader (10) |
semi |
1987/1997 |
4,500 |
25,000 |
Norway |
Statoil |
Jul-04 |
Feb-06 |
$173,500 |
$107,500 | |
|
Sovereign
Explorer |
semi |
1984 |
4,500 |
25,000 |
Venezuela |
Statoil |
Dec-04 |
Mar-05 |
$65,000 |
$65,000 | |
|
|
|
|
|
Trinidad |
BG |
Mar-05 |
Sep-05 |
$65,000 |
$65,000 | ||
|
Other
High Specification (4) |
|||||||||||
|
Henry
Goodrich |
semi |
1985 |
2,000 |
30,000 |
E.
Canada |
Terra
Nova |
Feb-04 |
Aug-05 |
$106,600 |
$116,600 | |
|
|
|
|
|
E.
Canada |
|
Feb-05 |
planned
40-day shipyard program |
|
$106,600 | ||
|
Paul B. Loyd,
Jr. |
semi |
1987 |
2,000 |
25,000 |
UKNS |
BP |
Mar-04 |
Mar-05 |
$120,000 |
$107,500 | |
|
|
|
|
|
UKNS |
BP |
Mar-05 |
Mar-07 |
$144,000 |
$120,000 | ||
|
Transocean
Arctic |
semi |
1986 |
1,650 |
25,000 |
NNS |
Statoil |
Aug-04 |
Mar-06 |
$168,000 |
$200,000 | |
|
Polar
Pioneer |
semi |
1985 |
1,500 |
25,000 |
NNS |
Statoil |
Nov-04 |
Jul-06 |
$170,000 |
$110,200 | |
Transocean
Inc. Fleet
Page 2
|
Transocean
Inc. (NYSE: RIG) Monthly Fleet Update |
Updated : March 15,
2005
New Firm
Contracts and Contract Extensions Noted in Bold
|
Dynamically_positioned______ |
|
Rig
Type/Name |
Floater
Type |
|
Yr.
Entered
Service
(1) |
Water
Depth
(ft.) |
Drilling
Depth |
Location |
Client |
Current
Contract
Start/Idle
Date |
Estimated
Expiration
(2) |
Current
Contract Dayrate
(3) |
Previous
Contract
Dayrate
(3) |
|
Other
Floaters (24) |
|||||||||||
|
Peregrine
III |
ship |
|
1976 |
4,200 |
25,000 |
USGOM |
|
|
idle |
|
N/A |
|
Sedco
700 |
semi |
1973/1997 |
3,600 |
25,000 |
E.
Guinea |
A.
Hess |
Jan-05 |
Jan-06 |
$90,000 |
$84,000 | |
|
Transocean
Legend |
semi |
1983 |
3,500 |
25,000 |
Enroute |
|
Jan-05 |
under tow to
Singapore |
|
$55,000 | |
|
Transocean
Amirante |
semi |
1978/1997 |
3,500 |
25,000 |
USGOM |
ENI |
Feb-05 |
Aug-05 |
$86,800 |
$50,000 | |
|
|
|
|
|
USGOM |
Remington |
Aug-05 |
Feb-06 |
$102,500 |
$86,800 | ||
|
C. Kirk
Rhein, Jr. |
semi |
|
1976/1997 |
3,300 |
25,000 |
USGOM |
|
Mar-02 |
idle |
|
$63,500 |
|
Transocean
Driller (9) |
semi |
1991 |
3,000 |
25,000 |
Brazil |
Petrobras |
Sep-04 |
Jul-06 |
$53,000 |
$52,000 | |
|
|
|
|
|
Brazil |
|
Apr-05 |
planned
10-day shipyard program |
|
$53,000 | ||
|
Falcon
100 |
semi |
|
1974/1999 |
2,400 |
25,000 |
USGOM |
LLOG |
Feb-05 |
Jul-05 |
$85,000 |
$42,500 |
|
|
|
|
|
USGOM |
LLOG |
Jul-05 |
Jan-06 |
$105,000 |
$85,000 | ||
|
Sedco
703 |
semi |
1973/1995 |
2,000 |
25,000 |
Australia |
OMV |
Mar-05 |
May-05 |
$83,000 |
$75,000 | |
|
|
|
|
|
Australia |
BHPB |
Jul-05 |
Jul-05 |
$135,000 |
$83,000 | ||
|
|
|
|
|
Australia |
|
Jul-05 |
planned
28-day shipyard program |
|
$75,000 | ||
|
Sedco
711 |
semi |
1982 |
1,800 |
25,000 |
UKNS |
Shell |
Dec-04 |
Dec-05 |
$50,000 |
$45,100 | |
|
Transocean
John Shaw |
semi |
1982 |
1,800 |
25,000 |
UKNS |
Nexen |
Dec-04 |
May-05 |
$85,000 |
$60,000 | |
|
|
|
|
|
UKNS |
Kerr
McGee |
May-05 |
Aug-05 |
$115,000 |
$85,000 | ||
|
|
|
|
|
UKNS |
Nexen |
Aug-05 |
Oct-06 |
$100,500 |
$115,000 | ||
|
Sedco
712 |
semi |
1983 |
1,600 |
25,000 |
UKNS |
|
Dec-04 |
Shipyard /
contract preparation |
|
$47,700 | |
|
|
|
|
|
UKNS |
Oilexco |
Mar-05 |
Mar-06 |
$103,000 |
$47,000 | ||
|
Sedco
714 |
semi |
1983/1997 |
1,600 |
25,000 |
UKNS |
BG |
Feb-05 |
Mar-05 |
$50,000 |
$47,000 | |
|
|
|
|
|
UKNS |
BG |
Mar-05 |
Apr-05 |
$55,000 |
$50,000 | ||
|
|
|
|
|
UKNS |
BG |
Apr-05 |
May-05 |
$60,000 |
$55,000 | ||
|
|
|
|
|
UKNS |
|
May-05 |
planned
14-day shipyard program |
|
$60,000 | ||
|
|
|
|
|
UKNS |
ADTI |
May-05 |
Aug-05 |
$145,000 |
$60,000 | ||
|
Actinia |
semi |
1982 |
1,500 |
25,000 |
India |
Reliance |
Oct-04 |
Aug-05 |
$54,000 |
$44,000 | |
|
Sedco
601 |
semi |
1983 |
1,500 |
25,000 |
Indonesia |
Santos |
Jan-05 |
Mar-05 |
$66,000 |
$66,000 | |
|
|
|
|
|
Indonesia |
Santos |
Mar-05 |
Apr-05 |
$77,000 |
$66,000 | ||
|
|
|
|
|
Indonesia |
Santos |
Apr-05 |
Jun-05 |
$66,000 |
$77,000 | ||
|
|
|
|
|
Indonesia |
Santos |
Jun-05 |
Jul-05 |
$77,000 |
$66,000 | ||
|
Sedneth
701 |
semi |
1972/1993 |
1,500 |
25,000 |
Angola |
ChevronTexaco |
Jan-05 |
Apr-05 |
$73,000 |
$70,000 | |
|
Sedco
702 |
semi |
1973/1992 |
1,500 |
25,000 |
Australia |
|
Apr-03 |
idle |
|
$80,000 | |
|
Transocean
Winner |
semi |
1983 |
1,500 |
25,000 |
NNS |
|
Aug-02 |
idle |
|
$120,000 | |
|
Transocean
Searcher |
semi |
1983/1988 |
1,500 |
25,000 |
NNS |
Statoil |
Aug-04 |
May-05 |
$122,000 |
$103,800 | |
|
Transocean
Prospect |
semi |
1983/1992 |
1,500 |
25,000 |
UKNS |
|
Oct-02 |
idle |
|
$98,000 | |
|
Transocean
Wildcat |
semi |
1977/1985 |
1,300 |
25,000 |
UKNS |
|
Oct-01 |
idle |
|
$85,000 | |
|
Transocean
Explorer |
semi |
1976 |
1,250 |
25,000 |
UKNS |
|
Jan-99 |
idle |
|
$145,000 | |
|
J.W.
McLean |
semi |
|
1974/1996 |
1,250 |
25,000 |
UKNS |
ConocoPhillips |
Aug-04 |
Aug-05 |
$51,000 |
$60,000 |
|
Sedco
704 |
semi |
1974/1993 |
1,000 |
25,000 |
UKNS |
Venture |
Jan-05 |
Jun-05 |
$63,500 |
$45,000 | |
|
|
|
|
|
UKNS |
Venture |
Jun-05 |
Jun-06 |
$91,000 |
$63,500 | ||
|
Sedco
706 |
semi |
1976/1994 |
1,000 |
25,000 |
UKNS |
Total |
Jan-05 |
Dec-05 |
$78,000 |
$57,000 |
Transocean Inc. Fleet
Page 3
|
Transocean
Inc. (NYSE: RIG) Monthly Fleet Update |
Updated : March 15,
2005
New Firm
Contracts and Contract Extensions Noted in Bold
|
Dynamically_positioned______ |
|
Rig
Type/Name |
Floater
Type |
|
Yr.
Entered
Service
(1) |
Water
Depth
(ft.) |
Drilling
Depth |
Location |
Client |
Current
Contract
Start/Idle
Date |
Estimated
Expiration
(2) |
Current
Contract
Dayrate
(3) |
Previous
Contract
Dayrate
(3) |
|
Jackups
(26) |
|
||||||||||
|
Interocean
III |
1978/1993 |
300 |
25,000 |
Egypt |
Zeitco |
May-03 |
Jul-05 |
$38,000 |
$39,000 | ||
|
Shelf
Explorer |
1982 |
300 |
20,000 |
Indonesia |
Kodeco |
Dec-04 |
Jul-05 |
$48,000 |
$58,000 | ||
|
Transocean
Comet |
1980 |
250 |
20,000 |
Egypt |
GUPCO |
Oct-03 |
Oct-05 |
$32,000 |
$27,300 | ||
|
Transocean
Mercury |
1969/1998 |
250 |
20,000 |
Egypt |
Petrobel |
Dec-03 |
May-05 |
$33,500 |
$30,500 | ||
|
Transocean
Nordic |
1984 |
300 |
25,000 |
India |
Reliance |
Feb-04 |
Mar-05 |
$57,800 |
$72,100 | ||
|
|
|
|
|
India |
ONGC |
Apr-05 |
Apr-07 |
$74,200 |
$57,800 | ||
|
Trident II
|
1977/1985 |
300 |
25,000 |
India |
ONGC |
May-03 |
May-06 |
$60,000 |
$34,900 | ||
|
Trident IV
(11) |
1980/1999 |
300 |
25,000 |
Egypt |
IEOC |
Sep-04 |
Apr-05 |
$78,600 |
$59,900 | ||
|
|
|
|
|
Italy |
ENI |
May-05 |
Jul-05 |
$57,500 |
$78,600 | ||
|
Trident
VI |
1981 |
220 |
21,000 |
India |
Reliance |
Dec-04 |
Mar-05 |
$55,000 |
$53,200 | ||
|
|
|
|
|
Singapore |
|
Mar-05 |
planned
35-day shipyard program and mob |
|
$55,000 | ||
|
|
|
|
|
Vietnam |
VSP |
Apr-05 |
Mar-06 |
$70,500 |
$55,000 | ||
|
Trident
VIII |
|
|
1982 |
300 |
21,000 |
Nigeria |
Conoil |
Feb-05 |
Aug-05 |
$55,500 |
$43,000 |
|
|
|
|
|
|
|
|
|
Aug-05 |
120-day
planned shipyard program |
|
$55,000 |
|
|
|
|
|
|
|
Nigeria |
Conoil |
Dec-05 |
Jan-08 |
$66,000 |
$55,000 |
|
Trident
IX |
|
|
1982 |
400 |
20,000 |
Vietnam |
JVPC |
Sep-04 |
Sep-05 |
$60,000 |
$56,300 |
|
|
|
|
|
Vietnam |
JVPC |
Sep-05 |
Sep-06 |
$77,200 |
$60,000 | ||
|
Trident
XII |
1982/1992 |
300 |
25,000 |
India |
ONGC |
Nov-03 |
Nov-06 |
$62,250 |
$57,000 | ||
|
Trident
XIV |
1982/1994 |
300 |
20,000 |
Cabinda |
ChevronTexaco |
May-04 |
Apr-05 |
$60,000 |
$75,000 | ||
|
Trident
15 |
1982 |
300 |
25,000 |
Thailand |
Unocal |
Feb-03 |
Feb-05 |
$53,500 |
$70,000 | ||
|
|
|
|
|
Thailand |
Unocal |
Feb-05 |
Feb-06 |
$59,750 |
$53,500 | ||
|
|
|
|
|
Singapore |
|
May-05 |
40-day
planned shipyard program |
|
$59,750 | ||
|
Trident
16 |
1982 |
300 |
25,000 |
Thailand |
ChevronTexaco |
Mar-05 |
Apr-05 |
$65,000 |
$60,000 | ||
|
Trident
17 |
1983 |
355 |
25,000 |
Vietnam |
Petronas
Carigali |
May-04 |
Apr-06 |
$57,500 |
$62,000 | ||
|
Trident
20 |
2000 |
350 |
25,000 |
Caspian |
Petronas
Carigali |
Dec-04 |
Jul-05 |
$90,000 |
$90,000 | ||
|
Ron
Tappmeyer |
1978 |
300 |
25,000 |
India |
ONGC |
Nov-03 |
Nov-06 |
$62,250 |
$50,100 | ||
|
Randolph
Yost |
1979 |
300 |
25,000 |
India |
ONGC |
Nov-03 |
Nov-06 |
$60,750 |
$64,000 | ||
|
D.R. Stewart
|
1980 |
300 |
25,000 |
Italy |
ENI |
Jan-05 |
Mar-05 |
$51,000 |
$76,000 | ||
|
|
|
|
|
Italy |
ENI |
Mar-05 |
Mar-06 |
$54,000 |
$51,000 | ||
|
G.H.
Galloway |
1984 |
300 |
25,000 |
Italy |
ENI |
Jul-04 |
Jul-05 |
$51,000
|
$48,000 | ||
|
Harvey H.
Ward |
1981 |
300 |
25,000 |
Malaysia |
Talisman |
Jul-04 |
Jul-05 |
$46,350 |
$45,000 | ||
|
Roger W.
Mowell |
1982 |
300 |
25,000 |
Malaysia |
Talisman |
Nov-04 |
Nov-05 |
$46,350 |
$45,000 | ||
|
J.T.
Angel |
1982 |
300 |
25,000 |
Indonesia |
BP |
Dec-04 |
Oct-05 |
$60,000 |
$50,000 | ||
|
F.G.
McClintock |
1975 |
300 |
25,000 |
India |
ONGC |
Jan-05 |
Dec-07 |
$50,000 |
$50,000 | ||
|
C.E.
Thornton |
1974 |
300 |
25,000 |
India |
ONGC |
Oct-04 |
Oct-07 |
$45,000 |
$45,000 | ||
|
Jupiter |
1981/1997 |
170 |
16,000 |
UAE |
|
Sep-98 |
idle |
|
|
Transocean
Inc. Fleet
Page 4
|
Transocean
Inc. (NYSE: RIG) Monthly Fleet Update |
Updated : March 15,
2005
New Firm
Contracts and Contract Extensions Noted in Bold
|
Dynamically_positioned______ |
| Rig Type/Name |
Floater
Type |
Yr.
Entered
Service
(1) |
Water
Depth
(ft.) |
Drilling
Depth |
Location |
Client |
Current
Contract
Start/Idle
Date |
Estimated
Expiration
(2) |
Current
Contract Dayrate(3) |
Previous
Contract
Dayrate(3) | |
|
Self-ErectingTenders
(4) |
|
|
|
|
|
|
|
|
|||
|
Searex
9 |
|
1981 |
400 |
20,000 |
Congo |
|
Apr-04 |
idle |
|
$42,000 | |
|
Searex
10 |
|
1983/1994 |
450 |
21,000 |
Angola |
ChevronTexaco |
Feb-05 |
Feb-06 |
$41,000 |
$44,000 | |
|
Charley
Graves |
|
1975 |
500 |
20,000 |
Singapore |
|
Dec-04 |
70-day
planned shipyard program |
|
$40,000 | |
|
|
|
|
|
|
Thailand |
Unocal |
Mar-05 |
Mar-07 |
$40,500 |
$40,000 | |
|
W.D.
Kent |
|
|
1977 |
400 |
20,000 |
Malaysia |
|
Jan-03 |
idle |
|
$35,000 |
|
Non-U.S.
Drilling Barges (4) |
|||||||||||
|
Searex
4 |
1981/1989 |
21 |
25,000 |
Indonesia |
Total |
Sep-04 |
Sep-09 |
$39,200 |
N/A | ||
|
Searex
6 |
1981/1991 |
25 |
25,000 |
Cameroon |
|
Jul-02 |
idle |
|
$27,500 | ||
|
Searex
12 |
1982/1992 |
25 |
25,000 |
Nigeria |
Shell |
Jun-04 |
Jun-05 |
$49,000 |
$49,000 | ||
|
Hibiscus
(7) |
1979/1993 |
25 |
16,000 |
Indonesia |
Total |
Jan-04 |
Jan-07 |
$47,700 |
$44,300 | ||
|
Platform
Rigs (1) |
|||||||||||
|
Cliffs #
1 |
1988/98 |
|
18,000 |
China |
|
|
idle |
|
| ||
|
Other
(2) |
|||||||||||
|
Joides
Resolution (8) |
ship |
|
1978 |
27,000 |
30,000 |
Worldwide |
IODP |
May-04 |
Jun-05 |
$66,000 |
$88,750 |
|
Sedco
135D |
1966/77/01 |
600 |
|
Brazil |
SLB |
Jun-01 |
Jun-09 |
$28,500 |
N/A | ||
|
Footnotes: |
|
(1)
Dates shown are the original service date and the date of the
most recent upgrade, if any. |
|
(2)
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
contracts in continuation, so the second line shows the estimated earliest
availability. Many contracts permit the client 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. |
|
(4)
The rig is leased from its owner, an unrelated third party, pursuant to a
fully defeased lease arrangement. |
|
(5)
Although originally constructed in 1982, this unit was substantially
upgraded in 1996. |
|
(6)
Accounted for as an operating lease as a result of the sale/leaseback
transaction in November 1995. |
|
(7)
Owned by a joint venture in which the company has a 75%
interest. |
|
(8)
Operated under a management contract with the rig's owner. The rig is
currently engaged in scientific geological coring activities and is owned
by a joint venture in which the company has a 50% interest. Dayrate
indicated reflects 100% of contract rate. |
|
(9)
Current contract provides for a bonus incentive opportunity not reflected
in the stated current contract dayrate. |
|
(10)
Dayrate reflects a base level to be paid over the estimated 450-day
contract period. The rig will receive a dayrate higher than the stated
base level when utilized in a water depth of greater than 2,000
feet. |
|
(11)
Rig was assigned by ENI to IEOC in Egypt in early September and is
expected to return to ENI in Italy following the completion of work in
Egypt. Increase in dayrate reflects higher operating costs associated with
work in Egypt. |
Transocean
Inc. Fleet
Page 5