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Higher dayrates and more work for Transocean

Rig Lynx
  • By Rig Lynx
  • Feb 25, 2021
  • Category : Archives
  • Views : 900

 

During Transocean’s last earnings call, CEO, Jeremy Thigpen, said that, just last week, BHP exercised one of its options on the 2014-built Deepwater Invictus drillship at an increased day rate of $215,000.

 

The last fleet status report, published earlier in February, shows that the rig’s previous day rate under the contract with BHP was $155,000 for operations in Trinidad where BHP failed to find oil.

 

The current option starts in April 2021 and ends in April 2022. BHP also has one additional one-year option for the rig.

 

On matters concerning the Deepwater Nautilus “We strongly believe that this attempted early termination is invalid, and we are urgently pursuing all applicable remedies”, Thigpen said.

 

As a result of the contract termination, the rig has been idle since December 2020. However, it will not stay idle for long following a new contract award.

 

Thigpen said that Transocean signed a new fixture for the Deepwater Nautilus with POSCO. The rig will begin working at the end of March and continue into the summer.

 

Deepwater Nautilus’ day rate under the now- terminated Petronas contract was $140,000.

 

Thigpen also added that the 2014-built Deepwater Asgard drillship recently completed a campaign for Beacon Offshore in the Gulf of Mexico in January 2021.

 

The rig is now warm-stacked but Thigpen believes that, as one of the most technically advanced assets in the U.S. Gulf of Mexico, the rig should see no shortage of work as the company is “actively bidding her into multiple opportunities”.

 

Source: Transocean

 

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