Offshore drilling contractor Transocean Ltd. ended the third quarter of the yr with $494 million in web loss attributable to controlling pursuits of $494 million, $0.58 per diluted share, because it took a success from a $617 million impairment.
The corporate stated in a media launch that contract drilling revenues elevated for the quarter by $87 million, reaching $948 million. The rise was attributed to elevated rig utilization, increased day charges for 2 items in addition to a full quarter of revenues from Deepwater Aquila, a newly constructed ultra-deepwater drillship.
Transocean’s backlog as of October was at $9.3 billion, the corporate stated. “As illustrated by the practically $1.3 billion in backlog booked within the third quarter, together with the latest award for Deepwater Conqueror, the demand for our fleet of excessive specification ultra-deepwater and harsh setting rigs stays robust”, stated Chief Government Officer Jeremy Thigpen. “With these most up-to-date awards, greater than 97 % of Transocean’s energetic fleet is contracted in 2025”.
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In its latest fleet standing report, Transocean unveiled offers for six of its drillships. Deepwater Conqueror secured a one-year contract within the U.S. Gulf of Mexico at a day fee of $530,000. The day fee was topped by Deepwater Atlas securing a one-year deal at $635,000, additionally within the U.S. Gulf of Mexico.
Deepwater Invictus secured two one-well extensions within the U.S. Gulf of Mexico on prime of a 34-month contract. Transocean Endurance stays in Australia because the buyer exercised its choices for a complete of six extra wells. Dhirubhai Deepwater KG1 stays in India for six extra wells whereas Transocean Spitsbergen will drill three extra wells in Norway.
Transocean’s working and upkeep bills rose to $563 million for the third quarter, up from $534 million for the earlier quarter. This improve was pushed by increased fleet exercise, notably from the Deepwater Aquila, which was totally operational for your entire quarter. Nevertheless, decreased working prices associated to Transocean Norge, following the acquisition of Orion Holdings in June, partially offset this improve.
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