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

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

OpenLife Nigeria reports that at the moment, things appear to be looking up for Transocean, an offshore drilling services provider and developer of oil and natural gas reserves.
Fresh information indicates that the company’s total backlog has approximately hit $6.2 billion as of 25 July.
This information was obtained from its latest fleet status report issued on 25 July.
Transocean noted that several new contracts have been awarded.
Among them, the company was awarded a 10-well contract in Angola from Total Energies for the Deepwater Skyros drillship at a rate of $310,000/day. It also netted a two-well contract extension from Woodside for its Deepwater Invictus drillship in the US Gulf of Mexico at $375,000/day.

Transocean listed two updates for its Transocean Spitsbergen harsh-environment semisubmersible. Operator Equinor exercised two one-well options in Norway at $305,000/day for the rig, as well as an additional nine-well firm contract at $335,000/day that includes two one-well options at $375,000/day. The Paul B Loyd Jr harsh-environment semisubmersible was awarded a one-well contract, plus two one-well options and an eight-well option for plugging and abandonment services in the UK, each at $175,000/day.

The company’s Dhirubhai Deepwater KG1 drillship was awarded an estimated 86-day contract extension plus up to four option wells (270 days) in India at $330,000/day by Reliance. The Deepwater Mykonos drillship was awarded a 435-day contract, plus options up to an incremental 279 days in Brazil at approximately $364,000/day by an unnamed operator.

The aggregate incremental backlog associated with these contracts is approximately $650 million. As of 25 July, the company’s total backlog is approximately $6.2 billion.

Source: Drilling Contractors Magazine