Transocean lands $257 million in Gulf offshore rig contracts - November 14, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryNovember 2004

Vol. 9, No. 46

Week of November 14, 2004

Transocean lands $257 million in Gulf offshore rig contracts

Ray Tyson

Offshore contract driller Transocean was awarded drilling contracts from ChevronTexaco and Murphy Oil for up to $257 million, Transocean said Nov. 8.

Transocean received a two-year contract from ChevronTexaco for the ultra-deepwater semi-submersible Cajun Express starting June 2005 and a one-year contract extension starting January 2006 for the ultra-deepwater drillship Discoverer Deep Seas.

The two contracts are for exploration and development drilling work in the U.S. Gulf of Mexico. Revenues of about $151.3 million could be generated over the 730-day contract for the Cajun Express, Transocean said, adding that revenues of about $87.6 million could be generated over the contract extension for the Discoverer Deep Seas.

Separately, Murphy Oil awarded Transocean an estimated 120-day contract for the deepwater semi-submersible Transocean Marianas for a one-well drilling program in the U.S. Gulf. The contract will begin around Dec. 1, 2004. Revenues of about $18 million could be generated over the estimated duration of the contract, Transocean said.

Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- https://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©1999-2019 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.