Two-Year Contract for ‘Deepwater Invictus’, Transocean Ultra-Deepwater Drillship

Transocean Ltd. (NYSE:RIG) announced Tuesday that its ultra-deepwater drillship Deepwater Invictus has been awarded a two-year contract with options by a subsidiary of BHP Billiton.

Transocean said the backlog associated with the firm contract is approximately $106 million and the contract will commence in the second quarter of 2018. It includes three one-year priced options.

The Deepwater Invictus was delivered in 2014 and is rated to a water depth of 12,000 feet. It has spent nearly its entire career contracted to BHP.

Deepwater Invictus

Deepwater Invictus – (MarineTraffic,com, 2017)

“We are extremely pleased to continue working with BHP,” said President and Chief Executive Officer Jeremy Thigpen. “Since we welcomed the Invictus into our fleet in 2014, the combination of BHP, Transocean and the Invictus has delivered industry-leading performance; and, we look forward to extending our productive relationship through this multi-year contract.”

A spokesman for BHP said the awarding of the contract supports its exploration focus on the three Tier 1 deep-water opportunities in the US Gulf of Mexico, Mexico, and the Caribbean.

According to Transocean’s latest fleet status report, Deepwater Invictus is currently contracted to BHP Billiton for operations in the Gulf of Mexico at a day rate of $592,000. The current contract spans from January 2017 through November 2017.

References – gCaptain. (2017). Two-Year Contract for Ultra-Deepwater Drillship ‘Deepwater Invictus’ – gCaptain. [online] Available at: http://gcaptain.com/two-year-contract-ultra-deepwater-drillship-deepwater-invictus/ [Accessed 18 Oct. 2017].

MarineTraffic.com. (2017). Vessel details for: DEEPWATER INVICTUS (Drill Ship) – IMO 9620592, MMSI 538004610, Call Sign V7XZ7 Registered in Marshall Is | AIS Marine Traffic. [online] Available at: http://www.marinetraffic.com/en/ais/details/ships/shipid:713787/mmsi:538004610/imo:9620592/vessel:DEEPWATER_INVICTUS [Accessed 18 Oct. 2017].

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