Actionable news
0
All posts from Actionable news
Actionable news in RIGP: TRANSOCEAN PARTNERS LLC,

Transocean Partners: Updated

The following excerpt is from the company's SEC filing.

Revisions Noted in Bold

Dynamically Positioned *

Drilling

Estimated

Dayrate on

Estimated Out of Service Days

Footnote

Floater

Entered

Contract

Expiration

Current

Previous

Rig Type/Name

References

(Feet)

Location

Customer

Start Date

Contract

(Dollars)

Ultra-Deepwater Floaters: Transocean Partners LLC

Discoverer Inspiration

(5), (6),

12,000

40,000

Chevron

Mar-15

Mar-20

585,000

523,000

Clear Lea der

Nov-14

Oct-18

581,000

569,000

Development Driller III

37,500

Nov-09

Nov-16

422,000

Revenue efficiency

Q2 2015

Q1 2015

Q4 2014

Q3 2014

Q2 2014

Full Year 2014

Full Year 2013

Total fleet revenue efficiency

Footnotes

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

(2) Estimated Contract Start and Estimated Expiration Dates are presented 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, 2015 will be reported as commencing in April 2015) 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, 2015 will be reported as commencing in May 2015). 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, Timing 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) Reflects the current contracted dayrate which could reflect prior cost escalations and could change in the future due to further cost escalations.

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

(7) The

incurred approximately 55 days of unpaid downtime during the...


More