Transocean Ltd. (RIG) (RIGN.VX) issued a comprehensive Fleet Status Report which provides current status and contract information for the company's entire fleet of offshore drilling rigs. Since the June update, backlog associated with new contracts or extensions is approximately $1.5 billion and 2012 estimated out of service time increased by a net 16 days.

Highlights are as follows:

• Discoverer Deep Seas - Awarded a three-year contract for work in the U.S. Gulf of Mexico at a dayrate of $595,000 ($652 million contract backlog). The rig's prior contract dayrate was $450,000.
• GSF Arctic III - Awarded a 17-well contract for work in the U.K. sector of the North Sea at a dayrate of $313,000 ($205 million contract backlog), consistent with the rig's recently-signed, three-month prior contract.
• GSF Jack Ryan - Customer exercised a one-year option for work offshore Nigeria at a dayrate of $425,000 ($155 million contract backlog).
• Transocean Marianas - Awarded a 280-day contract for work offshore Namibia at a dayrate of $530,000 ($148 million contract backlog). The rig's prior dayrate was $450,000.
• Transocean Searcher - Customer exercised a one-year option in the Norway North Sea at a dayrate of $386,000 ($141 million contract backlog).
• Trident 15 - Awarded a two-year contract extension for work offshore Thailand at a dayrate of $139,000 ($101 million contract backlog). The rig's prior dayrate was $100,000.
• GSF Rig 103 is currently held for sale. The rig was previously stacked.

This report also contains the company's initial forecast of planned 2013 out of service time. The estimated 2,657 days (impacting 50 rigs) comprises 824 days (31%) for High-Specification Floaters, 872 days (33%) for Midwater Floaters, and 961 days (36%) for Jackups. This compares with estimated 2012 out of service time of 3,931 days (impacting 58 rigs) consisting of 1,212 days (31%) for High-Specification Floaters, 717 days (18%) for Midwater Floaters, and 2,002 days (51%) for Jackups. Included in the 2013 forecast, the company anticipates performing extensive well control equipment work scope on 12 floaters.

These estimates are subject to change due to a variety of factors, including changes in business plans as well as customers' requirements and new contracts. It is not uncommon for unplanned or exceptional shipyards to significantly increase estimates of out of service time. Since the company cannot predict such shipyards, they are not included in the Fleet Status Report.