No. of Recommendations: 1
A new rig comes online to join the fleet.

ZUG, SWITZERLAND--(Marketwire - December 17, 2010) - Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that the newbuild ultra-deepwater drillship Discoverer India has commenced operations for Reliance Industries in India under a minimum five-year drilling contract. By December 31, 2010, Reliance can choose to extend the term of the contract to either seven or 10 years

According to the October fleet status report, Discoverer India's initial dayrate was going to be $537K/day for the first six months, going up to $557K/day for the next 4 and a half years. That's another $8M in revenue booked, just for operating the last 15 days of the year, and ~$50M per quarter in 2011.

Should at least partially offset the decreased revenue in the GoM.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.