Transocean Announced 7-Year Drilling Contract (NYSE:RIG,NYSE:BP)

Posted on: Wed, 25 Nov 2009 12:02:00 EST


Symbols: BP, RIG
Nov 25, 2009 (SmarTrend(R) News Watch via COMTEX) --
RIG | Quote | Chart | News | PowerRating -- 11/25/2009 - Transocean Ltd. (NYSE:RIG) announced that the newbuild ultra-deepwater semisubmersible rig Development Driller III has started operations in the U.S. Gulf of Mexico for a subsidiary of BP (NYSE: BP | Quote | Chart | News | PowerRating). The operations are under a seven-year drilling contract. The rig features advanced offshore drilling technology, including a motion-compensated winch capable of deploying subsea assemblies to the seabed, a high-pressure mud-pump system, an advanced mud system design, a variable deckload of 7,000 metric tons and Transocean's dual-activity drilling technology. The dual-activity drilling technology allows for parallel drilling operations designed to save time and money in deepwater well construction.

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For full details on BP P.L.C. (BP) BP. BP P.L.C. (BP) has Short Term PowerRatings at TradingMarkets. Details on BP P.L.C. (BP) Short Term PowerRatings is available at This Link.

For full details on Transocean Ltd (RIG) RIG. Transocean Ltd (RIG) has Short Term PowerRatings at TradingMarkets. Details on Transocean Ltd (RIG) Short Term PowerRatings is available at This Link.

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