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

To: SJS who wrote (9988)	1/28/1998 1:17:00 PM
From: bw	Read Replies (1) \| Respond to of 95453

Good news from RIG: biz.yahoo.com This appears to work out to a day-rate of $185,000 [?] Seems like this news is adding strength to the sector...

To: SJS who wrote (9988)	1/28/1998 1:18:00 PM
From: Bazmataz	Respond to of 95453

Transocean Offshore Inc. Reaches Agreement With Shell on Semisubmersible Transocean Richardson HOUSTON, Jan. 28 /PRNewswire/ -- Transocean Offshore Inc. (NYSE: RIG; OSE) announced today that it has reached an agreement with Shell Deepwater Development (Shell) involving the dayrate for the third year of a five-year contract on the Company's fourth-generation semisubmersible Transocean Richardson. The third year of the contract will commence on February 1, 1998. Revenues associated with the third year of the contract are approximately $67.5 million. The Transocean Richardson is one of the world's most technically advanced deepwater semisubmersibles and one of seven mobile offshore drilling rigs currently active in the Transocean Offshore Inc. fleet with a rated water depth exceeding 3,000 feet. The Transocean Richardson is currently operating in the U.S. Gulf of Mexico in approximately 5,300 feet of water. The rig is expected to remain in the U.S. Gulf of Mexico throughout the third year of the contract. The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical and future trends, on general economic and business conditions and on numerous other factors, including expected future developments, many of which are beyond the control of the Company. Such forward-looking statements are also subject to certain risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, the Company's actual results may differ materially from those indicated in or implied by such forward-looking statements. Transocean Offshore Inc. is a worldwide offshore drilling company engaged in contract drilling of oil and gas wells. Headquartered in Houston, Texas, the Company specializes in technically demanding segments of the offshore drilling business, including deepwater, harsh environment, international turnkey and integrated drilling services. Hmmm. BC