Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (94009)	8/23/2001 1:06:37 PM
From: The Ox	Respond to of 95453

Transocean Sedco Forex receives rig contracts by: OilOnline Thursday, August 23, 2001 Transocean Sedco Forex Inc. announced that its ultra-deepwater semisubmersible Cajun Express has received a one-well, estimated 45-day contract from Ocean Energy Inc. for drilling operations in the U.S. Gulf of Mexico. The contract is expected to generate revenues of approximately $3.5 million and commence during August 2001. In addition, the company has signed contracts and received a contract extension valued at an estimated combined $72 million for two semisubmersible rigs and three jackup rigs operating in international markets. The semisubmersible Sedco 702 has received a one-well, estimated 60-day contract from Newfield Exploration Australia Ltd. for continuing work in Australia. The contract commenced during August 2001 and is expected to generate revenues of $6.0 million. The semisubmersible Polar Pioneer has received a six-month contract extension for continuing work in Norway following Norsk Hydro's decision to exercise one of five, six-month options on the rig. The six-month extension is expected to commence in February 2002 and generate revenues of approximately $23.9 million, the maximum revenue allowed with the option. The terms associated with the four remaining six-month options provide for the possibility of improving dayrates, as dictated by prevailing market conditions. The Trident 9, a MODEC 400-C cantilever jackup designed for water depths of up to 400 feet, has received a two-well, estimated six-month contract from Vietsovpetro in Vietnam. The contract is expected to commence in September 2001 and generate revenues of approximately $13.5 million. The Trident 12, a Baker BMC 300-IC cantilever jackup designed for water depths of up to 300 feet, has received a six-month contract from Cairn Energy India Pty Ltd. for work in India. The contract is expected to commence during October 2001 following the completion of maintenance programs in a Singapore shipyard and mobilization to India. Revenues are expected to total approximately $11.7 million. Finally, the Trident 17, a MODEC 300-C cantilever jackup designed for water depths of up to 300 feet, has received a minimum 240-day contract from Kodeco Energy Co. Ltd. in Indonesia. The contract commenced in August 2001 and is expected to generate revenues of approximately $16.8 million for the minimum term.