Transocean Inc. Provides Update on Fleet Contract Status.Energy Editors/Business Editors
HOUSTON--(BUSINESS WIRE)--June 30, 2003
Transocean Inc. (NYSE NYSE
See: New York Stock Exchange :RIG) today announced that its reports of drilling rig status and contract information covering the company's offshore drilling Offshore drilling typically refers to the act of extracting resources, primarily oil, in an ocean or lake. Controversy
As with all oil drilling, there has been a certain level of controversy surrounding the issue. fleet have been updated as of June 30, 2003.
The primary report, titled Monthly Fleet Update, covers the rig status and contract information on drilling rigs comprising the company's non-U.S. mobile offshore drilling fleet and its fleet of semisubmersible sem·i·sub·mers·i·ble
A seagoing, self-propelled barge that rides at anchor, stands on partially submerged vertical legs on submerged pontoons, and serves as living quarters and a base of operations in offshore drilling. rigs and drillships operating in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A second report, titled Monthly Fleet Update - Jackups and Barges, provides condensed con·dense
v. con·densed, con·dens·ing, con·dens·es
1. To reduce the volume or compass of.
2. To make more concise; abridge or shorten.
a. rig status and contract information on the company's U.S.-based jackups and drilling barges.
The reports are available through the company's website at www.deepwater.com and can be found in the "Investor Relations/Financial Reports" section of the website. By subscribing to the Transocean Financial Report Alert, you will be immediately notified when new postings are made to this page by an automated e-mail, which will provide a link directly to the page that has been updated. Shareholders and other interested parties are invited to sign up for this service.
Statements contained in the Monthly Fleet Updates involving the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, as well as any other statements that are not historical facts, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future price of oil and gas and other factors detailed in the company's most recent Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. and other filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC's website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
Transocean Inc. is the world's largest offshore drilling contractor with more than 170 full or partially owned and managed mobile offshore drilling units, inland drilling barges and other assets other assets
Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. utilized in the support of offshore drilling activities worldwide. The company's mobile offshore drilling fleet is considered one of the most modern and versatile in the world with 13 fifth-generation semisubmersibles and drillships, 15 other deepwater semisubmersibles and drillships, 32 mid-water semisubmersibles and drillships and 55 jackup drilling rigs. Transocean Inc. specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. With a current equity market capitalization Equity Market Capitalization
A measure of the total market value of an equity market. The measure is calculated by taking the market capitalization of all companies in the equity market and adding them together to arrive at the capitalization for the market as a whole. in excess of $7 billion, the company's ordinary shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "RIG".