Message #12 From:
Stock News Bot Date: January 9, 2007 08:11:00 AM
RIG News Transocean Inc. Announces Contract for Semisubmersible Rig Transocean Richardson
HOUSTON--(BUSINESS WIRE)--Transocean Inc. (NYSE:RIG) today announced that a subsidiary of Chevron
Corporation (NYSE:CVX) has awarded the company’s
semisubmersible rig, the Transocean Richardson, a three-year
contract for exploration and appraisal drilling offshore in global
Chevron operating areas which may include Southern Africa. The
three-year contract is expected to commence in July 2007, following the
completion of an existing contract commitment offshore Angola. Revenues
of approximately $493 million are possible over the three-year contract,
excluding a performance bonus opportunity of up to 10% of the
contractual operating dayrate.
The Transocean Richardson is one of 33 High-Specification
Floaters in the Transocean Inc. fleet, 13 of which are Fifth-Generation
floaters. The rig, which entered service in 1988, is capable of
operating in water depths of up to 5,000 feet.
Statements regarding contract durations, contract commencement dates and
revenues, as well as any other statements that are not historical facts,
are forward-looking statements that involve certain risks, uncertainties
and assumptions. These include but are not limited to operating hazards
and delays, actions by customers and other third parties, the future
price of oil and gas, the actual revenues earned and other factors
detailed in the company's most recent Form 10-K and other filings with
the Securities and Exchange Commission (SEC), which are available free
of charge on the SEC's website at www.sec.gov.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those indicated.
Transocean Inc. is the world's largest offshore drilling contractor with
a fleet of 82 mobile offshore drilling units. The company's mobile
offshore drilling fleet, consisting of a large number of
high-specification deepwater and harsh environment drilling units, is
considered one of the most modern and versatile in the world due to its
emphasis on technically demanding segments of the offshore drilling
business. The company’s fleet consists of 33
High-Specification Floaters (semisubmersibles and drillships), 20 Other
Floaters, 25 Jackups and other assets utilized in the support of
offshore drilling activities worldwide. With a current equity market
capitalization in excess of $21 billion, Transocean Inc.’s
ordinary shares are traded on the New York Stock Exchange under the
symbol "RIG."
