Transocean Ltd. announced that it intends to scrap, in an environmentally responsible manner, the following two rigs: GSF Aleutian Key and Sedco 707. These rigs are classified as held for sale. As a result of this decision, the company expects its first quarter 2015 results to include an estimated non-cash charge of $90 million to $110 million, net of taxes. Including these two rigs, Transocean has announced plans to scrap a total of 18 floaters. As the company continues to evaluate the long-term competitiveness of its fleet, additional rigs may be identified as candidates for scrapping.
About Transocean
Transocean (NYSE: RIG) (SIX: RIGN) is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.
Transocean owns or has partial ownership interests in, and operates a fleet of, 79 mobile offshore drilling units consisting of 46 high-specification floaters (ultra-deepwater, deepwater and harsh-environment drilling rigs), 22 midwater floaters and 11 high-specification jackups. In addition, including the newbuild drillships announced herein, the company has nine ultra-deepwater drillships and five high-specification jackups under construction.