Transocean’s Total Backlog Peaks At $6.2 Billion In July

<h4>Transocean&&num;8217&semi;s Total Backlog Peaks At &dollar;6&period;2 Billion In July<&sol;h4>&NewLine;<p>OpenLife Nigeria reports that at the moment&comma; things appear to be looking up for Transocean&comma; an offshore drilling services provider and developer of oil and natural gas reserves&period;<br &sol;>&NewLine;Fresh information indicates that the company’s total backlog has approximately hit &dollar;6&period;2 billion as of 25 July&period;<br &sol;>&NewLine;This information was obtained from its latest fleet status report issued on 25 July&period;<br &sol;>&NewLine;Transocean noted that several new contracts have been awarded&period;<br &sol;>&NewLine;Among them&comma; the company was awarded a 10-well contract in Angola from Total Energies for the Deepwater Skyros drillship at a rate of &dollar;310&comma;000&sol;day&period; It also netted a two-well contract extension from Woodside for its Deepwater Invictus drillship in the US Gulf of Mexico at &dollar;375&comma;000&sol;day&period;<&sol;p>&NewLine;<p>Transocean listed two updates for its Transocean Spitsbergen harsh-environment semisubmersible&period; Operator Equinor exercised two one-well options in Norway at &dollar;305&comma;000&sol;day for the rig&comma; as well as an additional nine-well firm contract at &dollar;335&comma;000&sol;day that includes two one-well options at &dollar;375&comma;000&sol;day&period; The Paul B Loyd Jr harsh-environment semisubmersible was awarded a one-well contract&comma; plus two one-well options and an eight-well option for plugging and abandonment services in the UK&comma; each at &dollar;175&comma;000&sol;day&period;<&sol;p>&NewLine;<p>The company’s Dhirubhai Deepwater KG1 drillship was awarded an estimated 86-day contract extension plus up to four option wells &lpar;270 days&rpar; in India at &dollar;330&comma;000&sol;day by Reliance&period; The Deepwater Mykonos drillship was awarded a 435-day contract&comma; plus options up to an incremental 279 days in Brazil at approximately &dollar;364&comma;000&sol;day by an unnamed operator&period;<&sol;p>&NewLine;<p>The aggregate incremental backlog associated with these contracts is approximately &dollar;650 million&period; As of 25 July&comma; the company’s total backlog is approximately &dollar;6&period;2 billion&period;<&sol;p>&NewLine;<p><em><strong>Source&colon; Drilling Contractors Magazine<&sol;strong><&sol;em><&sol;p>&NewLine;