- Burlington Northern Santa Fe Profit Hit by Charge
- Crocs Shares Tank as Shomaker Slashes Outlook
- WaMu Shares Get Slammed as Credit Worries Grow
- Best Trades Now: Tech, Utilities, Financials & More
- Gassing Up With Garbage
- UBS Target of Fraud Suit from NY Attorney General
- SEC Plans to Broaden Curbs on Short Sales: Cox
- 30-Year Bond Gains Full Point as Stocks Weaken
- FCC Agrees to Approve Sirius Pruchase of XM: Report
- Why Aren’t We Happy?
- Oil Market Manipulated
- Stocks Drop 2%
- Building Your Portfolio on Homebuilding Stocks
- Stop Trading!: A War on Wall Street
- Pisani: New ETF = Play on Mid-East Growth
- Existing Home Sales: A Look At Numbers That Weren't There
- Comicon: Not Just Funny Business
- See What People Are Saying About... Water Scarcity
Transocean said Monday it won a three-year contract worth up to $569.4 million for its ultra-deepwater drillship Discoverer Spirit from oil and gas producer Anadarko Petroleum.
The contract is expected to begin in 2010 following the completion of the rig's existing contracts in the Gulf of Mexico.
The price equals about $520,000 per day for use of the Discoverer Spirit.
The rig is one of Transocean's [RIG Loading... ()] 34 "high-specification floaters" and can operate in water depths of up to 10,000 feet.
Transocean is awaiting regulatory approvals for its planned $18 billion purchase of peer GlobalSanteFe that would create an offshore driller with nearly 150 rigs, about three times more than its closest competitor.
High oil prices and advancements in offshore drilling technology have prompted oil and gas companies to seek reserves in previously untapped depths in the Gulf of Mexico in recent years.
That, plus the limited number of drillships capable of working in deep water, has led to a scramble to reserve rigs, pushing day rates as high as $600,000 for a Transocean vehicle.
Print
Email
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes