Drilling giant Transocean idled three more rigs Tuesday, bringing its total idle count to seven as the company’s dayrates slump.
The Switzerland based contractor will idle the ultra deepwater floaters Deepwater Discovery and Sedco Express and the mid-water floater GSF Arctic III.
Analysts expect Discovery and Sedco to remain idle for the first half of 2015 and the GSF to be cold stacked until the end of 2015, Barrons said.
The company did not disclose details about the shelving or when it expects to have the ships back in service.
In its November fleet report, Transocean reported drops in dayrates as explorers curb investments to weather weak oil prices.
The Discover Enterprise was awarded a one-well contract extension in the U.S. Gulf of Mexico at a dayrate of $399,000 with a $32 million estimated backlog, nearly half its prior dayrate of $615,000.
The Cajun Express also won a one-well contract extension in Senegal at a dayrate of $487,000 with a $15 million estimated backlog, down from its previous dayrate of $596,000.
The GSF Galaxy III won a four month contract as an accommodation unit in Denmark at a dayrate of $175,000, up slightly from the rig’s prior dayrate was $160,000.
Calgary-based Talisman Energy also exercised at a one-well option at an undisclosed location at a dayrate of $400,000 with a $13 million estimated contract backlog.