Today techs Transocean Ltd. Declares Contract for Harsh Setting

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STEINHAUSEN, Switzerland, Sept. 22, 2022 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) introduced at the moment that the cruel setting semi-submersible, Transocean Norway, obtained a contract award from Wintershall Dea Norge and OMV Norge granting the unique proper to drill the entire wells for his or her respective drilling campaigns beginning in 2023 by 2027, topic to rig availability and different situations.

The contract supplies that the Transocean Norway will drill eleven wells for Wintershall Dea Norge and 6 wells for OMV Norge. A portion of this work is topic to operator and authorities approvals. Assuming that every one approvals are obtained, the total contract interval is 1,071 days at a median dayrate of $408,000 which might contribute $437 million in backlog, excluding bonuses and extra companies. As well as, the contract accommodates further mounted value choice wells.

The present agency time period is at present 208 days, which contributes roughly $72 million in backlog. Backlog estimates exclude any income related to further services or choices that could be exercised as a part of the contract.

Transocean owns a 33.0% curiosity within the Transocean Norway by a three way partnership with Hayfin Capital Administration LLP (“Hayfin”). Sure associates of Hayfin personal the remaining 67.0% possession curiosity.

About Transocean

Transocean is a number one worldwide supplier of offshore contract today techs drilling companies for oil and gasoline wells. The corporate makes a speciality of technically demanding sectors of the worldwide offshore drilling enterprise with a specific give attention to deepwater and harsh setting drilling companies, and believes that it operates the very best specification floating offshore drilling fleet on the planet.

Transocean owns or has partial possession pursuits in, and operates a fleet of 37 cellular offshore drilling items, consisting of 27 ultra-deepwater floaters and 10 harsh setting floaters. As well as, Transocean is developing two ultra-deepwater drillships.

For extra details about Transocean, please go to: www.deepwater.com.

Ahead-Wanting Statements

The statements described herein that aren’t historic info are forward-looking statements inside the that means of Part 27A of the Securities Act of today techs 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. These statements may include phrases corresponding to “doable,” “intend,” “will,” “if,” “count on,” or different comparable expressions. Ahead-looking statements are based mostly on administration’s present expectations and assumptions, and are topic to inherent uncertainties, dangers and adjustments in circumstances which might be tough to foretell. In consequence, precise outcomes may differ materially from these indicated in these forward-looking statements. Components that might trigger precise outcomes to vary materially embrace, today techs however aren’t restricted to, estimated period of buyer contracts, contract dayrate quantities, future contract graduation dates and places, deliberate shipyard initiatives and different out-of-service time, gross sales of drilling items, timing of the corporate’s newbuild deliveries, working hazards and delays, dangers related to worldwide operations, actions by clients and different third events, the fluctuation of present and future costs of oil and gasoline, the worldwide and regional provide and demand for oil and gasoline, the intention to scrap sure drilling rigs, the success of our enterprise following prior acquisitions, the consequences of the unfold of and mitigation efforts by today techs governments, companies and people associated to contagious sicknesses, corresponding to COVID-19, and different components, together with these and different dangers mentioned within the firm’s most up-to-date Annual Report on Type 10-Ok for the 12 months ended December 31, 2021, and within the firm’s different filings with the SEC, which can be found freed from cost on the SEC’s web site at: www.sec.gov. Ought to a number of of those dangers or uncertainties materialize (or the opposite penalties of such a growth worsen), or ought to underlying assumptions show incorrect, precise outcomes could range materially from these indicated or expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to the corporate or to individuals appearing on our behalf are expressly certified of their entirety by reference to those dangers and uncertainties. You shouldn’t place undue reliance on forward-looking statements. Every forward-looking assertion speaks solely as of the date of the actual assertion, and we undertake no obligation to publicly replace or revise any forward-looking statements to replicate occasions or circumstances that happen, or which we change into conscious of, after the date hereof, besides as in any other case could also be required by legislation. All non-GAAP today techs monetary measure reconciliations to probably the most comparative GAAP measure are displayed in quantitative schedules on the corporate’s web site at: www.deepwater.com.

This press launch, or referenced paperwork, don’t represent a suggestion to promote, or a solicitation of a suggestion to purchase, any securities, and don’t represent an providing prospectus inside the that means of the Swiss Monetary Companies Act (“FinSA”) or promoting inside the that means of the FinSA. Buyers should depend on their very own analysis of Transocean and its securities, together with the deserves and dangers concerned. Nothing contained herein is, or shall be relied on as, a promise or illustration as to the longer term efficiency of Transocean.

Analyst Contact:
Alison Johnson
+1 713-232-7214

Media Contact:
Pam Easton
+1 713-232-7647

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