
Friday, November 01, 2024 7:34:26 AM
"The firm period now runs through August of 2026 and with the remaining options, the rig is expected to remain in Australia through at least October of 2026. As I mentioned, the Transocean fleet is now solidly booked for the vast majority of 2025 and well into 2026. In fact, based on today's backlog, our active fleet utilization for 2025 exceeds 97% and remains at roughly 86% through the first half of 2026. Through our 23 fixtures awarded so far this year, we have steadily eliminated utilization concerns through next year, successfully avoiding the so-called white space issues that most of our competitors have discussed over the past several months."
"The result of this is that in the medium term, we have the only marketable assets in this sought-after class. As we discussed in previous calls, hook-load is important to customers as it characterizes the rig's capability to run longer and heavier casing strings. This capability permits our customers to optimize their well designs, thereby reducing the number of days required to drill their wells, and if reservoir performance dynamics allow, facilitate greater well productivity due to the preservation of the wellbore diameter. As evidenced by our $1.3 billion in recent contract awards, our now $9.3 billion in total backlog, which, by the way represents a 7.5% sequential increase from our July 2024 Fleet Status Report and our 2025 contract coverage relative to our peer group, our portfolio of high specification, ultra-deepwater and harsh environment rigs, all else being equal, seems to be clearly preferred by our customers, leading to higher full cycle utilization and enabling us to fix industry leading day rates."
"And as you might expect, we are actively engaged in direct negotiations with customers for work that would commence an immediate continuation of their current contracts. In Africa and the Mediterranean, we currently expect between 10 and 15 programs, an average duration of about 12 months to commence in 2026. This demand is driven by development programs in Nigeria, Angola, Ivory Coast, and Ghana. Each of these opportunities also have associated long-term options.
Moving into 2027, we believe more units may be required in the region as programs in Mozambique and Namibia are expected to commence."
Recent RIG News
- The Gross Law Firm Notifies Transocean Ltd. Investors of a Class Action Lawsuit and Upcoming Deadline • PR Newswire (US) • 02/06/2025 10:45:00 AM
- Final Deadline for the Transocean Ltd. Securities Lawsuit - Contact the DJS Law Group to Discuss Your Rights - RIG • PR Newswire (US) • 02/04/2025 12:14:00 PM
- The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of Transocean Ltd.(RIG) Shareholders • PR Newswire (US) • 02/03/2025 10:45:00 AM
- Transocean Ltd. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before February 24, 2025 to Discuss Your Rights - RIG • PR Newswire (US) • 01/30/2025 10:45:00 AM
- Transocean Ltd. Announces Fourth Quarter, Full Year 2024 Earnings Release Date • GlobeNewswire Inc. • 01/28/2025 10:55:48 PM
- The Gross Law Firm Reminds Transocean Ltd. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 24, 2025 - RIG • PR Newswire (US) • 01/27/2025 10:45:00 AM
- Investors in Transocean Ltd. Should Contact The Gross Law Firm Before February 24, 2025 to Discuss Your Rights - RIG • PR Newswire (US) • 01/23/2025 10:45:00 AM
- The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of Transocean Ltd.(RIG) Shareholders • PR Newswire (US) • 01/20/2025 10:45:00 AM
- Transocean Ltd. Sued for Securities Law Violations - Contact The Gross Law Firm Before February 24, 2025 to Discuss Your Rights - RIG • PR Newswire (US) • 01/16/2025 10:45:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/14/2025 10:29:09 PM
- Contact The Gross Law Firm by February 24, 2025 Deadline to Join Class Action Against Transocean Ltd.(RIG) • PR Newswire (US) • 01/13/2025 10:45:00 AM
- Lost Money on Transocean Ltd.(RIG)? Join Class Action Suit Seeking Recovery - Contact The Gross Law Firm • PR Newswire (US) • 01/09/2025 10:45:00 AM
- Shareholders that lost money on Transocean Ltd.(RIG) should contact The Gross Law Firm about pending Class Action - RIG • PR Newswire (US) • 01/06/2025 10:45:00 AM
- Investors in Transocean Ltd. Should Contact The Gross Law Firm Before February 24, 2025 to Discuss Your Rights - RIG • PR Newswire (US) • 01/02/2025 06:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/17/2024 09:42:38 PM
- Transocean Ltd. Announces $111 Million Ultra-Deepwater Drillship Contract • GlobeNewswire Inc. • 12/17/2024 09:37:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/13/2024 09:30:07 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/12/2024 09:44:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/03/2024 10:02:12 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 11/22/2024 09:46:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/22/2024 09:40:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/21/2024 12:14:43 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 11/21/2024 12:11:59 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/31/2024 08:21:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/30/2024 08:24:50 PM
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