Transocean Receives Early Termination Notice on Discoverer Clear Leader

Source: www.gulfoilandgas.com 9/20/2017, Location: North America

Transocean Ltd. announced that a subsidiary of Chevron elected to exercise its contractual option to terminate the drilling contract for the ultra-deepwater drillship Discoverer Clear Leader, effective November 2017, prior to its expiration in October 2018. In accordance with the contract terms, Transocean will be compensated through a lumpsum payment of approximately $148 million in contract termination fees, which is the present value of the operating dayrate less the operating costs per day. The payment is expected to be received in the fourth quarter of 2017.


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Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


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