Notes

Things about Transocean rig sale to Borr Drilling - CNBC


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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://i.guim.co.uk/img/media/f01ea04c8d478656d3568c99257b4ee01f58bc81/0_127_3000_1800/master/3000.jpg?width=1200&amp;height=630&amp;quality=85&amp;auto=format&amp;fit=crop&amp;overlay-align=bottom%2Cleft&amp;overlay-width=100p&amp;overlay-base64=L2ltZy9zdGF0aWMvb3ZlcmxheXMvdGctZGVmYXVsdC5wbmc&amp;s=42db371b148584bd8bfb13db4d173bd7" alt="Keppel delivers another jackup rig to Grupo R with sale and leaseback deal - VesselFinder"><span style="display:none" itemprop="caption">Jackup 300 foot WD - Oil Rigs Now - Houston</span>
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<h1 style="clear:both" id="content-section-0">Excitement About Noble Corp completes sale of four jackups in Saudi Arabia<br><img width="495" src="https://www.servicekingmfg.com/images/products/1500-01.jpg"><br></h1>
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<p class="p__0">On January 30, 2017, we learned from Offshore, Energy, Today the following: U.S.-based Dleif Drilling has actually turned down an offer made by Borr Drilling, formerly called Magni Drilling, for the sale of the drillship Serto. Dleif got the deal for the drillship in November 2016 from the then Magni Drilling.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="http://www.allship.net/wp-content/uploads/2016/01/Self-elevating-Jack-up-Oil-Rig-300-ft.jpg" alt="Jack up Barges for Sale from around the world- Harmony Marine Shipbrokers"><span style="display:none" itemprop="caption">Drill Rigs for Sale and Vessels for Sale - Sun Machinery</span>
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<p class="p__1">The sixth generation deepwater drillship (2012) utilized to be owned by the Brazilian bankrupted, Schahin Group and was under long-lasting charter with the state-owned oil giant Petrobras. The drillship dealt with the Libra field together with Scahin's other drillship, Cerrado, which was purchased an auction by Ocean Rig in April 2016 for $65 million.</p>
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<p class="p__2">This is a significant news for Transocean, due to the fact that the company will divest its entire non-core jack-up fleet, including its five jack-ups under-construction. The financial implications can run deep into RIG balance sheet and it is necessary to examine this major move in details. For the ones who want to refresh their memory, it is very important to read my post about the 4Q' 16.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://www.bairdmaritime.com/wp-content/uploads/Perenco.jpg" alt="Keppel delivers another jackup rig to Grupo R with sale and leaseback deal - VesselFinder"><span style="display:none" itemprop="caption">Aker BP spuds North Sea prospect with Maersk jack-up rig</span>
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<h1 style="clear:both" id="content-section-1">Rumored Buzz on Rowan completes sale of two jack-up rigs to ARO Drilling - NS<br></h1>
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<p class="p__3">Initially, Transocean will become a "deepwater gamer" solely, which will not impact considerably incomes. Fleet Operating Statistics for 2016 per Quarter. Sector 4Q '16 $ million 3Q '16 $ million 2Q '16 $ million 1Q '16 $ million UDW 560&nbsp;583&nbsp;556&nbsp;621 HE Floaters 100&nbsp;103&nbsp;100&nbsp;181 Deepwater 35 43 51 85 Midwater 30&nbsp;87&nbsp;133&nbsp;138 HS JU 66 66 74 82 Termination fee 169 9 9 4 Agreement intangible 2 4 4 209 Customer Reimbursable 12 11 16 21 Total in$ million 974&nbsp;906&nbsp;943 1,341 As we can see, RIG 2016 revenues were $ 4,164 million and earnings from HS jack-ups were $288 million( $526 million in 2015), representing. RIG ended 2016 with a cash and cash equivalent of $3. 052 billion and a long term financial obligation of $7. 5 billion (Overall financial obligation$ 8. 546 billion ). Cap, Ex 2016 was $ 1. 344 billion. M. Marc Mey, CFO, stated in the last conference call: Capital expenditures in 2017 are prepared for to be around$ 500 million. In 2018, we expect Cap, Ex of roughly$ 325 million. This consists of approximately $100 million in<br>newbuild Cap, Ex and $245 million for maintenance and other Cap, Ex. Second, by monetizing its non-core Jack-up fleet, RIG will save a significant quantity of Cap, Ex in 2020-2021 and most likely a reasonable quantity of headache also. 1 billion. The rigs are scheduled to be provided gradually from 1Q 2016 to 3Q 2017. www.oilrigsnow.com paid $290 million.</p>
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