Transocean Claims $5.2B In Contract Backlog For 2013

Law360, Los Angeles (August 9, 2013, 9:47 PM EDT) -- Transocean Ltd. has amassed $5.2 billion in contract backlog this year, thanks in part to the extension of Chevron Corp. contracts for two ultra-deepwater rigs in the Gulf of Mexico, according to a Thursday conference call regarding the company's second-quarter earnings.

The world's largest offshore drilling company increased contract backlog by nearly $2 billion with extensions of the Discoverer Clear Leader and Discoverer Inspiration. Transocean extended the former drill ship's contract of $590,000 per day for an additional four years and extended the latter ship's contract...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.