Transocean lands new contracts, extensions valued at $119MM

Transocean ultra-deepwater drillship Discoverer Seven Seas

Transocean (NYSE: RIG) announced within its monthly fleet status summary significant extensions and new contracts valued at $119 million since November 18, 2012.

Deals highlighted include ultra-deepwater drillship Discoverer Seven Seas - awarded a three-well contract for work offshore Indonesia by Inpex at a dayrate of $500,000 adding a $90 million contract backlog for Transocean.

ExxonMobil (NYSE:XOM) has also exercised a six-month option on Transocean’s GSF Magellan jackup rig for work offshore Nigeria at an increased dayrate of $160,000 for an additional $29 million contract backlog.

Transocean concluded with reports of an increase in estimated out of service time for 2012 by a net 40 days, including 22 days to complete repairs on the Henry Goodrich and 19 days to complete work scope on the GSF Explorer. The company said its 2013 out of service time is anticipated to decrease by a net 17 days.

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