Deepwater | Drilling Formulas and Drilling Calculations

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

By DrillingFormulas.Com | October 18, 2017 - 10:51 pm |October 18, 2017 Oil and Gas News

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 – (MarineTraffic,com, 2017)

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The Cheapest Ever for Ultra Deep Water Drillship in 2017

By DrillingFormulas.Com | September 30, 2017 - 9:32 am |September 30, 2017 Oil and Gas News

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In April 2013 Transocean’s Deepwater Pathfinder drillship demanded the highest dayrate of any other rig contracted at that time. Eni contracted the drillship at an astronomical dayrate of $681,000 a day from September 2013 through April 2015 to drill in the Gulf of Mexico.

Pacific Drilling recently secured a contract with Malaysian Petronas for its UDW drillship Pacific Santa Ana at a dayrate of $170,000. The Samsung unit delivered in 2011 is capable to drill in water depths up to 12,000ft.

But the lowest dayrate for one ultra-deepwater drillship has been agreed by Vantage Drilling and India’s ONGC in January 2017 for the Platinium Explorer. ONGC has secured the rig for three years for $118 million which translates to a dayrate below $110,000.