Transocean Ltd. - FORM 8-K - EX-99.1 - TRANSOCEAN LTD. FLEET STATUS REPORT

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8-K - FORM 8-K - Transocean Ltd.	d8k.htm

Exhibit 99.1

LOGO


		Fleet Status Report

		January 13, 2011 Transocean Ltd. (NYSE: RIG), (SIX: RIGN)


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «


Rig Type/Name	Floater Type			Yr. ⁽¹⁾ Entered Service		Water Depth (Feet)		Drilling Depth (Feet)		Location		Customer		Estimated Contract Start Date⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Dayrate on Previous Contract ⁽³⁾ (Dollars)		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Floater Type			Yr. ⁽¹⁾ Entered Service		Water Depth (Feet)		Drilling Depth (Feet)		Location		Customer		Estimated Contract Start Date⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Dayrate on Previous Contract ⁽³⁾ (Dollars)		Q3 2010		Q4 2010		Q1 2011		Q2 2011
*Rigs Under Construction (2)*
Deepwater Champion ⁽⁶⁾		ship	«		TBA		12,000		40,000		See Footnote 11		ExxonMobil		See Footnote 11		See Footnote 11		See Footnote 11			N/A		—		—		—		—
Transocean Honor					TBA		400		30,000		See Footnote 12		See Footnote 12		See Footnote 12		See Footnote 12		See Footnote 12			N/A		—		—		—		—
*High Specification Floaters:*
*Ultra-Deepwater (26)*
Discoverer Americas ⁽⁶⁾^{, (14)}		ship	«		2009		12,000		40,000		Egypt		Statoil		Oct-10		Feb-11		486,000			482,000		—		—		—		—
											USGOM		Statoil		Mar-11		Feb-14		486,000			486,000
Discoverer Clear Leader ^(6), (15)		ship	«		2009		12,000		40,000		USGOM		Chevron		Sep-10		Jul-14		500,000			500,000		—		—		1		13
Discoverer Inspiration ⁽⁶⁾		ship	«		2010		12,000		40,000		USGOM		Chevron		Sep-10		Feb-15		494,000			494,000		—		—		—		—
Dhirubhai Deepwater KG1⁽¹⁶⁾		ship	«		2009		12,000		35,000		India		Reliance		Aug-09		Jul-14		510,000			N/A		—		15		—		—
Dhirubhai Deepwater KG2 ⁽¹⁶⁾		ship	«		2010		12,000		35,000		India		Reliance		Mar-10		Feb-15		510,000			N/A		—		15		—		—
Discoverer India ⁽¹⁷⁾		ship	«		2010		10,000		35,000		India		Reliance		Dec-10		Nov-15		556,000			N/A		—		—		—		—
Petrobras 10000 ^{(6), (8), (18)}		ship	«		2009		10,000		37,500		Angola		Petrobras		Oct-09		Dec-19		415,000			N/A		—		—		—		—
Discoverer Deep Seas ⁽⁶⁾		ship	«		2001		10,000		35,000		USGOM		Chevron		Mar-09		Feb-11		517,000			335,000		56		18		—		—
													Chevron		Feb-11		Feb-13		450,000			517,000
Discoverer Enterprise ⁽⁶⁾		ship	«		1999		10,000		35,000		USGOM		BP		Dec-07		Jan-11		523,000			191,000		—		—		—		—
															Jan-11		Jul-12		435,000			523,000
Discoverer Spirit ⁽⁶⁾		ship	«		2000		10,000		35,000		USGOM		Anadarko		Dec-07		Apr-11		507,000			298,000		—		—		—		—
															Apr-11		Mar-14		520,000			507,000
GSF C.R. Luigs ^{(6), (19)}		ship	«		2000		10,000		35,000		USGOM		BHP Billiton		Sep-09		Feb-14		519,000			411,000		—		—		—		—
GSF Jack Ryan ⁽⁶⁾		ship	«		2000		10,000		35,000		Nigeria		Total		Jun-09		Jul-13		425,000			297,000		81		22		—		—
Deepwater Discovery ^(6),(7)		ship	«		2000		10,000		30,000		Brazil		Devon		Oct-09		Jan-14		463,000			425,000		35		53		—		—
Deepwater Frontier		ship	«		1999		10,000		30,000		Timor-Leste		Reliance		Nov-10		Feb-11		477,000			477,000		—		—		—		60
											India		Reliance		Feb-11		Jul-11		477,000			477,000
											Australia		ExxonMobil		Oct-11		Jan-14		475,000	⁽⁶⁾		477,000
Deepwater Millennium ⁽⁶⁾		ship	«		1999		10,000		30,000		Ghana		Anadarko		Nov-10		Jul-11		576,000			543,000		—		—		—		—
											Brazil		Anadarko		Jul-11		May-13		561,000	⁽⁷⁾		576,000
Deepwater Pathfinder		ship	«		1998		10,000		30,000		USGOM		Eni		Aug-10		Apr-15		659,000	⁽¹⁴⁾		550,000		92		29		—		—
Deepwater Expedition		ship	«		1999		8,500		30,000		Malaysia		Petronas/ BHP		Dec-10		Dec-13		640,000	⁽⁶⁾		375,000		92		7		—		—
Cajun Express ^{(6),(7), (20)}		semi	«		2001		8,500		35,000		Brazil		Petrobras		May-10		Jun-13		539,000			493,000		—		—		—		—
Deepwater Nautilus ^{(6), (21)}		semi			2000		8,000		30,000		USGOM		Shell		Dec-08		Jun-12		544,000			493,000		—		—		—		—
GSF Explorer		ship	«		1972/1998		7,800		30,000		Indonesia		Marathon- led Consortium		May-10		Mar-12		510,000			426,000		14		—		—		—
Discoverer Luanda ⁽⁶⁾		ship	«		2010		7,500		40,000		Angola		BP		See Footnote 13		See Footnote 13		See Footnote 13			N/A		—		—		—		—
GSF Development Driller I ^(6), (19)		semi	«		2004		7,500		37,500		USGOM		BHP Billiton		Jun-08		Dec-12		513,000			220,000		—		—		—		—
GSF Development Driller II ⁽⁶⁾		semi	«		2004		7,500		37,500		USGOM		BP		Nov-08		Nov-13		580,000			208,000		44		29		—		—
Development Driller III ⁽⁶⁾		semi	«		2009		7,500		37,500		USGOM		BP		Nov-09		Nov-16		403,000			N/A		—		—		—		14
Sedco Energy ^{(6), (7)}		semi	«		2001		7,500		30,000		Nigeria		Chevron		Jan-08		Jan-11		483,000			202,000		—		31		82		—
Sedco Express ⁽⁶⁾		semi	«		2001		7,500		30,000		Israel		Noble Energy		Sep-10		Dec-11		530,000			188,000		11		—		—		—

																			Total Estimated Days Out of Service					425		219		83		87

																			Estimated Average Contract Dayrate⁽⁵⁾				$	499,000	$	500,000	$	515,000	$	517,000


				Page 2


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «


Rig Type/Name	Floater Type		Yr. ⁽¹⁾Entered Service	Water Depth (Feet)		Drilling Depth (Feet)		Location	Customer	Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Previous Contract ⁽³⁾ (Dollars)		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Floater Type		Yr. ⁽¹⁾Entered Service	Water Depth (Feet)		Drilling Depth (Feet)		Location	Customer	Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Previous Contract ⁽³⁾ (Dollars)		Q4 2010		Q1 2011		Q2 2011		Q3 2011
*Deepwater (16)*
Deepwater Navigator ^(7),(8)	ship	«	2000		7,200		25,000	Brazil	Petrobras		May-11		Feb-17		378,000			190,000		92		90		63		—
Discoverer 534	ship	«	1975/1991		7,000		25,000	Malaysia					Idle							—		—		—		—
Discoverer Seven Seas	ship	«	1976/1997		7,000		25,000	India	ONGC		Jul-08		Jun-11		316,000			292,000		—		—		—		—
Transocean Marianas ⁽⁶⁾	semi		1979/1998		7,000		25,000	Nigeria	Eni		Sep-10		Dec-12		450,000			565,000		—		—		—		—
Sedco 706 ^{(6), (7)}	semi	«	1976/1994/ 2008		6,500		25,000	Brazil	Chevron		Apr-09		Apr-14		311,000			N/A		—		—		—		—
Sedco 702^(6),(7)	semi	«	1973/2007		6,500		25,000	Nigeria	Shell		Mar-08		Feb-12		354,000			N/A		—		7		13		—
Sedco 707 ^(7),(8)	semi	«	1976/1997		6,500		25,000	Brazil	Petrobras		Nov-09		Mar-15		396,000			188,000		—		—		—		—
GSF Celtic Sea	semi		1982/1998		5,750		25,000	Brazil	British Gas		Jan-09		Jan-11		486,000	^(6), (7)		342,000		—		45		50		—
								Angola	ExxonMobil		May-11		May-12		320,000			486,000
								Angola	ExxonMobil		May-12		May-13		324,000			320,000
								Angola	ExxonMobil		May-13		May-14		328,000			324,000
Jack Bates	semi		1986/1997		5,400		30,000	Australia	Hess		Sep-10		Apr-11		420,000			375,000		—		—		—		—
Sedco 709	semi	«	1977/1999		5,000		25,000	Malaysia					Stacked							—		—		—		—
M.G. Hulme, Jr.	semi		1983/1996		5,000		25,000	Malaysia					Idle							—		—		—		—
Transocean Richardson ^(6),(8)	semi		1988		5,000		25,000	Angola	Chevron		Jun-10		Mar-11		340,000			459,000		—		—		—		—
Jim Cunningham	semi		1982/1995		4,600		25,000	Malaysia					Stacked							—		—		—		—
Sedco 710 ^(7),(8)					4,500		25,000	Brazil	Petrobras		Oct-10		Jan-17		287,000			128,000		4		—		—		—
Transocean Rather	semi		1988		4,500		25,000	Angola	ExxonMobil		Sep-10		Feb-11		428,000			257,000		—		—		—		—
											Feb-11		Apr-11		256,000			428,000
											Apr-11		May-11		428,000			256,000
											May-11		Sep-12		437,000			428,000
Sovereign Explorer	semi		1984		4,500		25,000	USGOM					Stacked							—		—		—		—

																				96		142		126		—

													Total Estimated Days Out of Service						$	370,000	$	368,000	$	359,000	$	365,000

													Estimated Average Contract Dayrate⁽⁵⁾

*Harsh Environment (5)*
Henry Goodrich ⁽⁶⁾	semi		1985/2007		5,000		30,000	Canada	Husky		Oct-10		Jan-14		335,000			381,000		—		—		30		60
Transocean Leader ^(6),(7)	semi		1987/1997		4,500		25,000	NNS	Statoil		Sep-09		Feb-12		459,000			340,000		—		—		—		—
Paul B. Loyd, Jr. ^(6) (7)	semi		1990		2,000		25,000	UKNS	BP		Apr-09		Mar-12		498,000			312,000		83		28		—		—
Transocean Arctic ^(6),(7)	semi		1986		1,650		25,000	NNS	Statoil		Jan-07		Dec-11		288,000			195,000		—		—		—		—
								NNS	Rig Management Norway		Dec-11		Dec-12		390,000	^(6),(23)		288,000
Polar Pioneer ^(6),(7)	semi		1985		1,500		25,000	NNS	Statoil		Feb-10		Jan-14		503,000			309,000
																				—		—		—		—

													Total Estimated Days Out of Service							83		28		30		60

													Estimated Average Contract Dayrate⁽⁵⁾						$	397,000	$	413,000	$	422,000	$	429,000


				Page 3


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «


Rig Type/Name	Floater Type	Yr. ⁽¹⁾Entered Service	Water Depth (Feet)	Drilling Depth (Feet)	Location	Customer	Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Previous Contract ⁽³⁾ (Dollars)		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Floater Type	Yr. ⁽¹⁾Entered Service	Water Depth (Feet)	Drilling Depth (Feet)	Location	Customer	Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Previous Contract ⁽³⁾ (Dollars)		Q4 2010		Q1 2011		Q2 2011		Q3 2011
*Midwater Floaters (25)*
Sedco 700	semi	1973/1997	3,600	25,000	Malaysia					Stacked							—		—		—		—
Transocean Legend	semi	1983	3,500	25,000	Aus./Timor Leste	Eni		Jun-10		Sep-11		315,000			300,000		—		8		12		—
Transocean Amirante ^(6),(24)	semi	1978/1997	3,500	25,000	USGOM	Eni		Jul-08		Mar-11		364,000			325,000		—		24		—		—
GSF Arctic I ^(6),(7)	semi	1983/1996	3,400	25,000	Brazil	Starfish		Jan-11		Jul-11		250,000			287,000		—		—		—		—
C. Kirk Rhein, Jr.	semi	1976/1997	3,300	25,000	Malaysia					Stacked							—		—		—		—
Transocean Driller ^(7),(8)	semi	1991	3,000	25,000	Brazil	Petrobras		Jul-10		Jul-16		267,000			116,000		—		—		—		—
GSF Rig 135	semi	1983	2,800	25,000	Gabon					Idle							—		—		—		—
GSF Rig 140 ⁽⁶⁾	semi	1983	2,400	25,000	Eq. Guin.	ExxonMobil		Dec-09		May-11		435,000			256,000		—		—		—		—
Falcon 100 ^(7),(8)	semi	1974/1999	2,400	25,000	Brazil	Petrobras		Mar-08		Mar-13		257,000			180,000		—		31		59		—
GSF Aleutian Key	semi	1976/2001	2,300	25,000	Gabon					Stacked							—		—		—		—
Sedco 703	semi	1973/1995	2,000	25,000	Malaysia					Stacked							—		—		—		—
Sedco 711 ⁽⁷⁾	semi	1982	1,800	25,000	UKNS	Shell		Jan-11		Nov-11		417,000			383,000		—		—		—		—
Transocean John Shaw ⁽⁷⁾	semi	1982	1,800	25,000	UKNS	Enquest		Oct-10		Jan-11		228,000			252,000		—		—		—		—
					UKNS	Enquest		Jan-11		Apr-11		245,000			228,000
GSF Arctic III ^(6),(7)	semi	1984	1,800	25,000	UKNS	ExxonMobil		Jul-10		Jul-11		249,000			N/A		—		—		—		—
Sedco 712	semi	1983	1,600	25,000	UKNS					Stacked							—		—		—		—
Sedco 714 ⁽⁷⁾	semi	1983/1997	1,600	25,000	UKNS	Total		Dec-10		Jun-11		252,000			394,000		—		—		—		—
								Jun-11		Dec-11		248,000			252,000
GSF Grand Banks ⁽⁶⁾	semi	1984	1,500	25,000	Canada	Husky		Jan-08		Jan-11		356,000			144,000		—		—		45		—
								Jan-11		Jan-13		295,000	⁽⁸⁾		356,000
Actinia	semi	1982	1,500	25,000	Malaysia					Idle							—		—		—		—
Sedco 601 ⁽⁶⁾	semi	1983	1,500	25,000	Malaysia	Petronas Carigali		Jan-08		Jan-11		256,000			268,000		—		—		—		—
Sedneth 701	semi	1972/1993	1,500	25,000	Gabon					Idle							—		—		—		—
Transocean Winner ^(6),(7)	semi	1983	1,500	25,000	NNS	Lundin		Apr-10		Oct-12		471,000			390,000		—		—		—		61
Transocean Searcher ^(6),(7)	semi	1983/1988	1,500	25,000	NNS	Statoil		May-09		May-12		422,000			395,000		—		—		—		—
Transocean Prospect ⁽⁷⁾	semi	1983/1992	1,500	25,000	UKNS					Idle							—		—		—		—
J.W. McLean ⁽⁷⁾	semi	1974/1996	1,250	25,000	UKNS	Marathon		Oct-10		Jan-11		258,000			See Footnote 9		—		—		—		—
Sedco 704 ⁽⁷⁾	semi	1974/1993	1,000	25,000	UKNS	ADTI		Jan-11		Jun-11		See Footnote 9			417,000		—		—		—		—

										Total Estimated Days Out of Service							—		63		116		61

										Estimated Average Contract Dayrate ⁽⁵⁾						$	333,000	$	320,000	$	324,000	$	319,000


				Page 4


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «


Rig Type/Name	Floater Type	Yr. ⁽¹⁾Entered Service	Water Depth (Feet)	Drilling Depth (Feet)	Location	Customer	Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Previous Contract ⁽³⁾ (Dollars)		Estimated Out of Service Days ⁽⁴⁾
Rig Type/Name	Floater Type	Yr. ⁽¹⁾Entered Service	Water Depth (Feet)	Drilling Depth (Feet)	Location	Customer	Estimated Contract Start Date ⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)			Previous Contract ⁽³⁾ (Dollars)		Q4 2010		Q1 2011		Q2 2011		Q3 2011
*High Specification Jackups (10)*
GSF Constellation I ⁽⁶⁾		2003	400	30,000	Gabon	Total		Dec-10		Mar-12		100,000			110,000		75		—		—		14
GSF Constellation II ⁽²⁵⁾		2004	400	30,000	Egypt	Pharonic Petroleum Company		Feb-10		May-11		109,000			194,000		81		9		—		—
GSF Galaxy I		1991/2001	400	30,000	UKNS					Stacked							—		—		—		—
GSF Galaxy II		1998	400	30,000	UKNS	ADTI		Oct-10		Feb-11		See Footnote 9			150,000		—		—		—		—
GSF Galaxy III ^(6),(7)		1999	400	30,000	UKNS	Nexen		Oct-07		Oct-11		109,000			100,000		—		—		—		—
GSF Baltic ^(6),(7)		1983	375	25,000	Nigeria	ExxonMobil		Jun-10		Jun-12		100,000			248,000		—		—		—		—
GSF Magellan		1992	350	30,000	Holland					Stacked							—		—		—		—
GSF Monarch		1986	350	30,000	Holland					Idle							—		—		—		—
GSF Monitor		1989	350	30,000	West Africa					Idle							—		—		—		—
Trident 20 ⁽⁶⁾		2000	350	25,000	Caspian	Petronas Carigali		Dec-09		Dec-13		185,000			130,000		—		—		—		—
										Total Estimated Days Out of Service							156		9		—		14
										Estimated Average Contract Dayrate⁽⁵⁾						$	125,000	$	124,000	$	122,000	$	124,000
*Standard Jackups (54) - See Footnote 22*
Trident IX		1982	400	20,000	Malaysia					Idle							—		—		—		—
Trident 17		1983	300	25,000	Malaysia					Stacked							—		—		—		—
GSF Adriatic II		1981	350	25,000	Gabon					Stacked							—		—		—		—
GSF Adriatic IX		1981	350	25,000	Nigeria	Afren		May-10		Jan-11		90,000			97,000		—		—		—		—
					Nigeria	Afren		Jan-11		Jul-11		92,000			90,000
GSF Adriatic X		1982	350	30,000	Egypt					Idle							—		—		—		—
GSF Key Manhattan		1980	350	25,000	Italy	Eni		Apr-10		Apr-13		137,000			N/A		—		—		—		—
GSF Key Singapore		1982	350	25,000	Egypt					Stacked							—		—		—		—
GSF Adriatic VI		1981	328	25,000	Gabon					Stacked							—		—		—		—
GSF Adriatic VIII		1983	328	25,000	Gabon					Stacked							—		—		—		—
C.E. Thornton ⁽⁷⁾		1974	300	25,000	India	ONGC		Oct-08		Oct-11		131,000			45,000		—		—		—		—
D.R. Stewart		1980	300	25,000	Croatia					Stacked							—		—		—		—
F.G. McClintock		1975	300	25,000	India	ONGC		Oct-08		Sep-11		145,000			50,000		—		—		—		—
G.H. Galloway		1984	300	25,000	Croatia					Stacked							—		—		—		—
GSF Adriatic I		1981	300	25,000	Gabon					Stacked							—		—		—		—
GSF Adriatic V		1979	300	25,000	Gabon					Stacked							—		—		—		—
GSF Adriatic XI		1983	300	25,000	Malaysia					Stacked							—		—		—		—
GSF Compact Driller		1992	300	25,000	Thailand	Chevron		Oct-09		Apr-12		100,000	⁽²⁶⁾		196,000		—		11		—
GSF Galveston Key		1978	300	25,000	Vietnam	Cuu Long JOC		Mar-10		Mar-11		100,000			202,000		—		—		—		—
GSF Key Gibraltar		1976/1996	300	25,000	Thailand	Chevron		Feb-11		Feb-14		105,000	⁽²⁶⁾		N/A		31		59		—		—
GSF Key Hawaii		1982	300	25,000	Qatar	Maersk Oil		Apr-10		Apr-11		70,000			N/A		—		—		—		—
GSF Labrador		1983	300	25,000	Holland					Stacked							—		—		—		—
GSF Main Pass I		1982	300	25,000	Saudi Arabia	Saudi Aramco		Jul-07		Jun-11		164,000			100,000		—		—		—		—
GSF Main Pass IV		1982	300	25,000	Saudi Arabia	Saudi Aramco		Aug-07		Jul-11		164,000			100,000		—		—		—		—
GSF Parameswara		1983	300	20,000	Indonesia	Total		Nov-09		Dec-12		122,000			168,000		—		—		—		—
GSF Rig 134		1982	300	20,000	Malaysia					Stacked							—		—		—		—
GSF Rig 136		1982	300	25,000	Malaysia					Stacked							—		—		—		—
Harvey H. Ward		1981	300	25,000	Malaysia					Idle							—		—		—		—
Interocean III		1978/1993	300	25,000	Egypt					Stacked							—		—		—		—
J.T. Angel		1982	300	25,000	India	ONGC		May-10		May-13		65,000			N/A		—		—		14		—
Randolph Yost		1979	300	25,000	India					Stacked							—		—		—		—
Roger W. Mowell		1982	300	25,000	Malaysia					Stacked							—		—		—		—
Ron Tappmeyer		1978	300	25,000	India	ONGC		Jun-10		Jun-13		65,000			64,000		—		—		—		—
Transocean Shelf Explorer		1982	300	20,000	Malaysia					Stacked							—		—		—		—
Transocean Nordic		1984	300	25,000	Malaysia					Stacked							—		—		—		—
Trident 15		1982	300	25,000	Thailand	Chevron		Feb-10		Feb-12		100,000	⁽²⁷⁾		100,000		—		—		—		—


				Page 5


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «


Rig Type/Name	Floater Type			Yr. ⁽¹⁾ Entered Service	Water Depth (Feet)		Drilling Depth (Feet)		Location		Customer		Estimated Contract Start Date⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)		Dayrate on Previous Contract ⁽³⁾ (Dollars)		Estimated Out of Service Days (4)
Rig Type/Name	Floater Type			Yr. ⁽¹⁾ Entered Service	Water Depth (Feet)		Drilling Depth (Feet)		Location		Customer		Estimated Contract Start Date⁽²⁾		Estimated Expiration Date ⁽²⁾		Dayrate on Current Contract ⁽³⁾ (Dollars)		Dayrate on Previous Contract ⁽³⁾ (Dollars)		Q3 2010		Q4 2010		Q1 2011		Q2 2011
Trident 16 ⁽⁶⁾				1982		300		25,000		Vietnam		Petronas Carigali		Feb-08		Feb-11		189,000		195,000		—		7		—		—
										Malaysia		Petronas Carigali		Mar-11		Jul-11		180,000		189,000
Trident II				1977/1985		300		25,000		India		ONGC		Mar-10		Apr-15		78,000		140,000		—		—		—		—
Trident IV-A				1980/1999		300		25,000		Gabon						Stacked						—		—		—		—
Trident VIII				1981		300		21,000		Gabon		Perenco		Nov-10		Aug-11		85,000		83,000		—		—		—		—
Trident XII				1982/1992		300		25,000		India		ONGC		May-10		May-13		65,000		140,000		—		30		—		—
Trident XIV ⁽⁷⁾				1982/1994		300		20,000		Angola		Chevron		Aug-10		Jan-11		151,000		149,000		—		—		—		—
														Jan-11		May-11		154,000		151,000
GSF High Island II				1979		270		20,000		Saudi Arabia		Saudi Aramco		Jul-07		Jul-11		164,000		100,000		—		—		—		—
GSF High Island IV				1980/2001		270		20,000		Saudi Arabia		Saudi Aramco		May-07		Apr-11		164,000		107,000		—		—		—		—
GSF High Island V				1981		270		20,000		Gabon						Stacked						—		—		—		—
GSF High Island IX				1983		250		20,000		Ghana						Stacked						—		—		—		—
GSF High Island VII				1982		250		20,000		Nigeria		Afren		Dec-10		Jun-11		88,000		88,000		—		—		—		—
GSF Rig 103				1974		250		20,000		Egypt						Stacked						—		—		—		—
GSF Rig 105				1975		250		20,000		Egypt		Petrobel		Mar-08		Feb-11		112,000		90,000		—		—		—		—
GSF Rig 124				1980		250		20,000		Egypt						Idle						—		—		—		—
GSF Rig 127				1981		250		20,000		Bahrain						Stacked						—		—		—		—
GSF Rig 141				1982		250		20,000		Egypt		Petrobel		Jan-10		Jan-11		55,000		110,000		—		—		—		—
Transocean Comet				1980		250		20,000		Egypt		GUPCO		Sep-09		Sep-11		50,000		112,000		—		—		—		—
Trident VI				1981		220		21,000		Malaysia						Stacked						—		—		—		—
GSF Britannia				1968		200		20,000		UKNS						Stacked						—		—		—		—
																Total Estimated Days Out of Service						31		107		14		—

																Estimated Average Contract Dayrate⁽⁵⁾					$	111,000	$	112,000	$	112,000	$	100,000

Swamp Barges (2)
Searex 4				1981/1989		21		25,000		Singapore						Stacked						—		—		—		—
Hibiscus ^(6), (28)				1979/1993		25		20,000		Indonesia		Total		Oct-07		Nov-12		72,000		74,000		—		—		—		6
Other (1)
Joides Resolution ^(6), (29)		ship	«	1978		27,000		30,000		Worldwide		TAMRF		Jan-09		Nov-13		68,000		35,000		—		—		—		—


				Page 6


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

Rig Type/Name

Floater
Type

Yr. ⁽¹⁾
Entered
Service

Water
Depth
(Feet)

Drilling
Depth
(Feet)

Location

Customer

Estimated
Contract

Start Date⁽²⁾

Estimated
Expiration

Date ⁽²⁾

Dayrate on
Current
Contract ⁽³⁴⁾
(Dollars)

Dayrate on
Previous
Contract ⁽³⁾
(Dollars)

Estimated Out of Service Days ⁽⁴⁾

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Fixed-Price Options ⁽¹⁰⁾

High Specification Floaters:

Ultra-Deepwater

Discoverer Enterprise ⁽⁶⁾

ship

1999

10,000

35,000

USGOM

Aug-12

Jan-13

435,000

GSF Explorer

ship

1972/1998

7,800

30,000

Indonesia

Marathon-led
Consortium

Apr-12

Apr-13

510,000

Harsh Environment

Transocean Arctic ^{(6), (7),
(23)}

semi

1986

1,650

25,000

NNS

Rig Management
Norway

Dec-12

Aug-13

395,000

390,000

NNS

Rig Management
Norway

Aug-13

Jun-14

399,000

395,000

Midwater Floaters

GSF Arctic III ^{(6), (7)}

semi

1984

1,800

25,000

UKNS

ExxonMobil

Jul-11

Jan-12

248,000

247,000

Sedco 714 ⁽⁷⁾

semi

1983/1997

1,600

25,000

UKNS

Total

Dec-11

Jun-12

250,000

Transocean John Shaw ⁽⁷⁾

semi

1982

1,800

25,000

UKNS

Enquest

Apr-11

Jul-11

245,000

Transocean Legend

semi

1983

3,500

25,000

Aus./
Timor
Leste

Eni

Sep-11

Mar-12

298,000

315,000

High Specification Jackups

GSF Constellation II ⁽²⁵⁾

2004

400

30,000

Egypt

Pharaonic
Petroleum
Company

May-11

Jul-11

115,000

109,000

Jul-11

Jan-12

100,000

115,000

Standard Jackups

Transocean Comet

1980

250

20,000

Egypt

GUPCO

Sep-11

Oct-12

50,000

110,000

Other

Joides Resolution ^(6),
(17)

ship

1978

27,000

30,000

Worldwide

TAMRF

Nov-13

Sep-23

68,000

Revenue Efficiency



Revenue Efficiency is defined as actual contract drilling revenue divided by the highest amount of total contract drilling revenue which could have been earned during the relevant period(s) expressed as a percentage. Revenue Efficiency measures how much revenue we have earned against our maximum potential revenue per the contract. Revenue Efficiency does not apply during Out of Service Days (Shipyard, Mobilizations, Demobilizations, Contract Preparation).

	Q3 2010 Actual			Q2 2010 Actual			Q1 2010 Actual			Q4 2009 Actual			Q3 2009 Actual			Q2 2009 Actual			Q1 2009 Actual			Q4 2008 Actual
Ultra Deepwater		86.5	%		89.1	%		92.2	%		92.2	%		92.7	%		97.7	%		95.3	%		94.3	%
Deepwater		90.1	%		92.8	%		89.7	%		91.9	%		91.3	%		83.2	%		92.3	%		89.5	%
Harsh Environment Floaters		96.4	%		96.9	%		94.8	%		97.7	%		97.2	%		97.9	%		97.9	%		98.2	%
Midwater Floaters		96.2	%		93.9	%		94.7	%		95.1	%		97.5	%		92.0	%		91.1	%		91.5	%
High Specification Jackups		96.2	%		98.9	%		93.5	%		98.1	%		95.2	%		95.1	%		97.5	%		92.7	%
Standard Jackups		96.4	%		97.3	%		97.1	%		93.7	%		98.4	%		95.3	%		97.0	%		97.2	%
Others		99.6	%		98.5	%		99.5	%		98.7	%		84.8	%		99.5	%		93.2	%		94.2	%
Total Fleet		91.9	%		92.8	%		93.2	%		93.5	%		95.0	%		93.1	%		94.4	%		93.8	%

Estimated Contract Drilling Revenue can be calculated as: Paid Days on Contract * Average Contract Dayrate * Revenue Efficiency


				Page 7


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Stacked Rigs

Rig Type/Name

Start Date

Deepwater (2)

Sedco 709

Prior to 2010

Jim Cunningham

5/13/2010

Sovereign Explorer

11/1/2010

Midwater Floaters (5)

Sedco 700

Prior to 2010

C. Kirk Rhein, Jr.

Prior to 2010

GSF Aleutian Key

1/9/2010

Sedco 703

Prior to 2010

Sedco 712

Prior to 2010

High Specification Jackups (2)

GSF Galaxy I

Prior to 2010

GSF Magellan

Prior to 2010

Standard Jackups (25)

Trident 17

Prior to 2010

GSF Adriatic II

Prior to 2010

GSF Key Singapore

10/21/2010

GSF Adriatic VI

Prior to 2010

GSF Adriatic VIII

7/3/2010

D.R. Stewart

8/7/2010

G.H. Galloway

Prior to 2010

GSF Adriatic I

Prior to 2010

GSF Adriatic V

Prior to 2010

GSF Adriatic XI

Prior to 2010

GSF Labrador

8/26/2010

GSF Rig 134

5/3/2010

GSF Rig 136

Prior to 2010

Interocean III

Prior to 2010

Randolph Yost

9/15/2010

Roger W. Mowell

8/29/2010

Transocean Shelf Explorer

Prior to 2010

Transocean Nordic

Prior to 2010

Trident IV-A

Prior to 2010

GSF High Island V

Prior to 2010

GSF High Island IX

Prior to 2010

GSF Rig 103

Prior to 2010

GSF Rig 127

Prior to 2010

Trident VI

Prior to 2010

GSF Britannia

Prior to 2010

Swamp Barges (1)

Searex 4

Prior to 2010

Idle Rigs

Rig Type/Name

Start Date

Deepwater (2)

Discoverer 534

9/6/2010

M. G. Hulme, Jr.

6/22/2010

Midwater Floaters (4)

Sedneth 701

6/20/2010

GSF Rig 135

11/2/2010

Actinia

11/19/2010

Transocean Prospect

12/15/2010

High Specification Jackups (2)

GSF Monarch

8/9/2010

GSF Monitor

Prior to 2010

Standard Jackups (4)

Harvey H. Ward

10/6/2010

GSF Rig 124

6/21/2010

Trident IX

12/29/2010

GSF Adriatic X

11/4/2010

Stacked and Idle rigs detailed above are not currently operating on contract. Start date denotes when rig commences idle or stacked status.

An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels. A “Stacked” rig, on the other hand, is manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity. However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking.


				Page 8


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

Updated: January 13, 2011

Revisions to Fleet Status Report Noted in Bold

Footnotes

⁽¹⁾ Dates shown are the original service date and the date of the most recent upgrade, if any.

⁽²⁾ As of April 2, 2009, Estimated Contract Start and Estimated Expiration Dates are calculated as follows: (1) for events estimated to occur between the 1st and 15th of a month, the previous month is reported (i.e. a contract which is estimated to commence on May 4, 2009 will be reported as commencing in April 2009) and (2) for events estimated to occur between the 16th and the end of a month, the actual month is reported (i.e. a contract which is estimated to commence on May 24, 2009 will be reported as commencing in May 2009). Expiration dates represent the company’s current estimate of the earliest date the contract for each rig is likely to expire. Some rigs have two or more contracts in continuation, so the last line shows the estimated earliest availability. Many contracts permit the customer to extend the contract.

⁽³⁾ Represents the full operating dayrate, although the average dayrate over the term of the contract will be lower and could be substantially lower. Does not reflect incentive programs which are typically based on the rig’s operating performance against a performance curve. Please refer to the “Customer Contract Duration and Dayrates and Risks Associated with Operations” section of the Disclaimers & Definitions for a description of dayrates. This column may not reflect the rate currently being received under the contract as a result of an applicable standby rate or other rate, which typically is less than the contract dayrate.

⁽⁴⁾ The out of service time represents those days where a rig is scheduled to be out of service and not be available to earn an operating dayrate. Please refer to the “Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation)” section of the Disclaimers & Definitions for a full description.

⁽⁵⁾ Estimated Average Contract Dayrate is defined as the average contracted full operating dayrate to be earned per revenue earning day. See note (3) for definition of full operating dayrate.

⁽⁶⁾ Reflects the current contracted dayrate which could change due to cost escalations.

⁽⁷⁾ Reflects the current contracted dayrate which is comprised of a foreign currency component and which could change due to foreign exchange adjustments.

⁽⁸⁾ Current contract provides for a bonus incentive opportunity not reflected in the stated current contract dayrate.

⁽⁹⁾ For the period of time that this rig is contracted to Applied Drilling Technology International, the drilling management services division of the company’s U.K. operating subsidiary, or Applied Drilling Technology Inc., the company’s U.S. drilling management services subsidiary, accounting rules require that we eliminate the revenues and costs related to those contracts from the contract drilling segment of the consolidated statement of operations. Revenues from turnkey contracts will be recognized in other revenues and are contingent upon successful completion of the well program.

⁽¹⁰⁾ Fixed price options may be exercised at the customer’s discretion. During periods when dayrates on new contracts are increasing relative to existing contracts, the likelihood of customers’ exercising fixed price options increases. During periods when dayrates on new contracts are decreasing relative to existing contracts, the likelihood of customers’ exercising fixed price options declines.

⁽¹¹⁾ We have been awarded a five-year drilling contract by ExxonMobil which requires the construction and operation of a Gusto MSC/P 10,000 design drillship to be named Deepwater Champion. Operations are expected to commence during the second quarter of 2011, after shipyard construction followed by sea trials, mobilization, and customer acceptance. The contract commencement date is contingent on Transocean vendor performance and other factors. During the first year of the contract, the Deepwater Champion is expected to operate in Turkey (Black Sea) at $703,000. Subsequent operating location is yet to be determined, and the dayrate under the contract could change depending on the country of future operations. For example, the dayrate could change to $640,000 or $650,000 if the operating location of the rig is moved to the USGOM or Brazil, respectively.

⁽¹²⁾ In November 2010 we agreed to purchase a Pacific Class 400 design jackup to be named Transocean Honor. Construction of the jackup is expected to be completed in the fourth quarter of 2011. We are actively marketing the jackup.

⁽¹³⁾ We own a 65 percent interest in this enhanced Enterprise-class drillship Discoverer Luanda through a joint venture company with Angco Cayman Limited. The contract had an initial term of five years, but was converted at the customer’s election to a seven-year term. The rig has commenced certain revenue earning activities, but acceptance by the customer has not been completed and the term of the contract has not commenced. The contract term is expected to commence during the first quarter of 2010, after customer acceptance. The contract commencement date is contingent on Transocean vendor performance and other factors. The dayrate to be paid over the seven-year contract period is $430,000.

⁽¹⁴⁾ Transocean and Statoil have reached an agreement for special standby rate and reduced mobilization rate that are lower than the regular contract dayrate during periods following the rig’s current operations in Egypt when Statoil is prevented from operating in the U.S. Gulf of Mexico. For every day on special standby rate or reduced mobilization rate, the contract term is extended by an equal number of days. The existing operating rate and term remain unaffected once the rig returns to work in the U.S. Gulf of Mexico. We have extended the Estimated Expiration Date of the contract by the number of days incurred at the special standby rate or reduced mobilization rate.

⁽¹⁵⁾ During the first three years of the contract, the contract dayrate is $469,000. The dayrate for the last two years of the contract is linked to the standard West Texas Intermediate crude oil price with a floor of $40 per barrel resulting in a contract dayrate of $400,000 and a ceiling of $70 per barrel resulting in a contract dayrate of $500,000.

⁽¹⁶⁾ We own a 50 percent interest in this ultra-deepwater Samsung-design drillship through a joint venture company with Pacific Drilling Limited. During the first six months of the contract, the contract dayrate is $495,000. The dayrate for the remaining four and one-half years of the contract is $510,000.

⁽¹⁷⁾ The term of the drilling contract may be extended to seven or 10 years at the customer’s election until January 15, 2011. During the first six months of the contract, the contract dayrate is $537,000. The dayrate over the remaining four and one-half years of the initial five-year term is $557,000. If the customer elects to extend the contract to 10 years, then the customer may further elect to have the operating dayrate for the second five years of the contract fluctuate based on crude oil prices. In such case, the operating dayrate for the second five years (i) will not be adjusted if crude oil is at $75 per barrel, (ii) will be adjusted upward on a straightline basis if crude oil is between $75 per barrel and $100 per barrel, with a maximum positive adjustment of approximately 10 percent if crude oil is at or above $100 per barrel, and (iii) will be adjusted downward on a straightline basis if crude oil is between $75 per barrel and $50 per barrel, with a maximum negative adjustment of approximately 10 percent if crude oil is at or below $50 per barrel. The customer retains the right to terminate the contract for convenience. If the customer (i) elects to stay with a five-year term, (ii) elects to extend the contract to seven years, or (iii) elects to extend the contract to 10 years and allow operating dayrates to fluctuate with oil prices, then the termination mechanism in the contract is designed to keep Transocean economically whole for the remaining term of the contract. However, if the customer elects to extend the contract to 10 years and the dayrate is fixed, then the customer will have a right to terminate the contract for convenience with one year’s prior notice which will result in total payments to Transocean ranging from $1.1 billion over a five-year period to $1.85 billion over a 10-year period (which includes paid and unpaid dayrate as well as a termination fee ranging from $100 million to $175 million), and, depending on the date of termination, may result in a discount to the estimated contract revenues that could have otherwise been generated over the 10-year period.

⁽¹⁸⁾ Dayrate excludes taxes for which Transocean will be reimbursed.

⁽¹⁹⁾ Transocean and BHP have reached agreement for special standby rates that are lower than the regular contract dayrates for the GSF C.R. Luigs and the GSF Development Driller I during periods when BHP cannot obtain a permit to operate in the U.S. Gulf of Mexico. For every day on the special standby rate, the contract term is extended by an equal number of days. The existing operating rates and terms remain unaffected once operations resume. Through January 31, 2011, BHP does not have the right to declare force majeure for this current event. If after January 31, 2011, BHP is still unable to obtain a permit to perform operations, then the parties can agree to continue the special standby rate or terminate the contract. We have extended the Estimated Expiration Date of the contract by the number of days incurred at the special standby rate. The GSF Development Driller I and the GSF C.R. Luigs received the required permits and resumed operations under the normal contracted dayrates on November 8, 2010 and January 4, 2011, respectively, and operations have continued under the normal contracted dayrates through the date of this Fleet Status Report.

⁽²⁰⁾ The customer has the right to convert the three-year contract to a five-year contract until February 27, 2011.

⁽²¹⁾ Transocean and Shell have reached an agreement for a special standby rate that is lower than the regular contract dayrate during periods when Shell is prevented from operating in the U.S. Gulf of Mexico. For every day on special standby rate, the contract term is extended by an equal number of days. The existing operating rate and term remain unaffected once operations resume. Through January 31, 2011, Shell does not have the right to declare force majeure for this current event. If after January 31, 2011 Shell is still prevented from operating then the parties resume normal operations and reserve their full rights under the contract to proceed. We have extended the Estimated Expiration Date of the contract by the number of days incurred at the special standby rate through the date of the current Fleet Status Report.

⁽²²⁾ Transocean Mercury is classified as held for sale. Transocean will no longer include the Transocean Mercury in the Fleet Status Report.

⁽²³⁾ The contract with Rig Management Norway led consortium permits the rig to drill HPHT well(s) at $400,000 and to drill well(s) in the Barents Sea, Norway at $425,000. The contract also guarantees a minimum average dayrate of $403,000 during the firm term.

⁽²⁴⁾ Since NTL 4 and declaration of the moratorium in the Gulf of Mexico, we have had a disagreement with the operator regarding the applicable rates under the drilling contract. We are currently in discussions with the customer to resolve these differences.

⁽²⁵⁾ The contract includes three optional wells. The first optional well has a dayrate of $115,000. The dayrate for the second and third optional well will be adjusted based on market dayrates within specific parameters.

⁽²⁶⁾ Dayrate is fixed for first 6 months then subject to quarterly adjustment based on market dayrates within specific parameters.

⁽²⁷⁾ Dayrate subject to annual adjustment based on market dayrates within specific parameters.

⁽²⁸⁾ Owned by a joint venture in which the company owns an 80 percent interest. Dayrate indicated reflects 100 percent of contract rate.

⁽²⁹⁾ Operated under a management contract with the rig’s owner. The rig is currently engaged in scientific geological coring activities and is owned by an unconsolidated joint venture in which a subsidiary of the company has a 50 percent interest. The dayrate disclosed herein reflects 100 percent of the contracted rate. The company’s 50 percent interest in the joint venture’s earnings is included in other income in its consolidated statement of operations.


				Page 9


		Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report

DISCLAIMERS & DEFINITIONS

The information contained in this Fleet Status Report (the “Information”) is as of the date of the report only and is subject to change without notice to the recipient. Transocean Ltd. assumes no duty to update any portion of the Information.

DISCLAIMER. NEITHER TRANSOCEAN LTD. NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED “AS IS.” Neither Transocean Ltd. nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of cause, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom.

No Unauthorized Publication or Use. All information provided by Transocean in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Transocean.

Customer Contract Duration, Timing and Dayrates and Risks Associated with Operations. The duration and timing (including both starting and ending dates) of the customer contracts are estimates only, and customer contracts are subject to cancellation, suspension and delays for a variety of reasons, including some beyond the control of Transocean. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Transocean. Our customer contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in our filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC’s website at www.sec.gov. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, shipyards or recharges.

Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation). Changes in estimated out of service time are noted where changes in the time Transocean anticipates that a rig is scheduled to be out of service and not be available to earn an operating dayrate have changed by a period of 30 days or longer for High Specification Floaters or 60 days or longer for all other rig classifications since the previously issued Monthly Fleet Update Summary or Comprehensive Fleet Status Report. The changes to estimated out of service time included in this Fleet Status may not be firm and could change significantly based on a variety of factors. Any significant changes to our estimates of out of service time will be reflected in subsequent Monthly Fleet Updates and Comprehensive Fleet Status Reports, as applicable.

Contract Preparation refers to periods during which the rig is undergoing modifications or upgrades as a result of contract requirements. Shipyards refers to periods during which the rig is out of service as a result of other scheduled shipyards, surveys, repairs, regulatory inspections or other scheduled service or work on the rig. In some instances such as certain mobilizations, demobilizations, upgrades and shipyards, we are paid compensation by our customers that is generally recognized over the life of the underlying contract, although such compensation is not typically significant in relation to the revenue generated by the dayrates we charge our customers.

Forward-Looking Statement. The statements made in the Fleet Update that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements made in the Fleet Update include, but are not limited to, statements involving the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations and planned shipyard projects and other out of service time. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, shipyard delays, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, Transocean’s ability to enter into and the terms of future contracts, the availability of qualified personnel, labor relations and the outcome of negotiations with unions representing workers, operating hazards, factors affecting the duration of contracts including well-in-progress provisions, the actual amount of downtime, factors resulting in reduced applicable dayrates, hurricanes and other weather conditions, terrorism, political and other uncertainties inherent in non-U.S. operations (including the risk of war, civil disturbance, seizure or damage of equipment and exchange and currency fluctuations), the impact of governmental laws and regulations, the adequacy of sources of liquidity, the effect of litigation and contingencies and other factors described above and discussed in Transocean’s most recently filed Form 10-K, in Transocean’s Forms 10-Q for subsequent periods and in Transocean’s other filings with the 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. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.

Fleet Classification. Transocean uses a rig classification for its semisubmersible rigs and drillships to reflect the company’s strategic focus on the ownership and operation of premium, high specification floating rigs. The rig classification “High Specification Floaters” is comprised of “Ultra-Deepwater” which refers to the latest generation of semisubmersible rigs and drillships possessing the latest technical drilling capabilities and the ability to operate in water depths equal to or greater than 7,500 feet, “Deepwater” which refers to semisubmersible rigs and drillships that possess the ability to drill in water depths equal to or greater than 4,500 feet, and “Harsh Environment” comprised of five of the company’s premium harsh environment rigs, the semisubmersibles Henry Goodrich, Transocean Leader, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The category titled “Midwater Floaters” represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet. The jackup fleet is subdivided into two categories; “High Specification” which consists of harsh environment and high performance jackups and “Standard”.

Stacking. An “Idle” rig is between contracts, readily available for operations, and operating costs are typically at or near normal levels. A “Stacked” rig, on the other hand, is manned by a reduced crew or unmanned and typically has reduced operating costs and is (i) preparing for an extended period of inactivity, (ii) expected to continue to be inactive for an extended period, or (iii) completing a period of extended inactivity. However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking.


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