Proxy Unblocker Journal

Transocean Ltd. (NYSE: RIG), (SIX: RIGN) Fleet Status Report January 16, 2012 Page 2 Yr. (1) Water Drilling Estimated Current Previous Floater Entered Depth Depth Contract Estimated Contract (3) Contract (3) Estimated Out of Service Days (4) Rig Type/Name (32) Type Service Location Customer Start Date (2) Expiration Date (2) (Dollars) (Dollars) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Rigs Under Construction (6) DSME 12000 Drillship TBN1 ship TBA 12,000 40,000 See Footnote 25 See Footnote 25 See Footnote 25 See Footnote 25 See Footnote 25 N/A DSME 12000 Drillship TBN2 ship TBA 12,000 40,000 See Footnote 25 See Footnote 25 See Footnote 25 See Footnote 25 See Footnote 25 N/A Transocean Siam Driller TBA 35,000 Thailand Chevron See Footnote 11 See Footnote 11 See Footnote 11 N/A Transocean Andaman TBA 35,000 Thailand Chevron See Footnote 12 See Footnote 12 See Footnote 12 N/A Transocean Ao Thai TBA 35,000 Thailand Chevron See Footnote 24 See Footnote 24 See Footnote 24 N/A Transocean Honor TBA 30,000 Angola Chevron See Footnote 13 See Footnote 13 See Footnote 13 N/A Ultra-Deepwater (27) Discoverer Americas (6) ship 12,000 40,000 USGOM Statoil Mar-11 Apr-14 505,000 486,000 Deepwater Champion (6) ship 12,000 40,000 Romania/Black Sea ExxonMobil Dec-11 Feb-12 655,000 690,000 See Footnote 31 ExxonMobil Mar-12 May-12 See Footnote 31 655,000 USGOM ExxonMobil Jun-12 Sep-15 640,000 See Footnote 31 Discoverer Clear Leader (6), (14) ship 12,000 40,000 USGOM Chevron Sep-10 Aug-14 504,000 503,000 Discoverer Inspiration (6) ship 12,000 40,000 USGOM Chevron Sep-10 Mar-15 506,000 494,000 Dhirubhai Deepwater KG1 (15) ship 12,000 35,000 India Reliance Aug-09 Jul-14 510,000 N/A Dhirubhai Deepwater KG2 (15) ship 12,000 35,000 India Reliance Jan-12 Mar-15 510,000 558,000 Discoverer India (16) ship 12,000 40,000 USGOM Reliance Aug-11 Feb-13 (22) 508,000 508,000 India Reliance Mar-13 Feb-21 508,000 508,000 ship 12,000 37,500 Brazil Feb-11 Aug-19 431,000 N/A Discoverer Deep Seas (6) ship 10,000 35,000 USGOM Chevron Feb-11 Feb-13 450,000 517,000 Discoverer Enterprise (6) ship 10,000 35,000 USGOM Jan-11 Jan-13 435,000 523,000 USGOM Jan-13 Jan-14 492,000 435,000 Discoverer Spirit (6) ship 10,000 35,000 Sierra Leone Anadarko Oct-11 Jan-12 545,000 (20) 547,000 (20) Liberia Chevron Jan-12 May-12 564,000 (20) 545,000 (20) USGOM Anadarko May-12 Apr-14 540,000 564,000 (20) GSF C.R. Luigs (6), (32) ship 10,000 35,000 USGOM BHP Billiton Sep-09 Feb-14 526,000 411,000 GSF Jack Ryan (6) ship 10,000 35,000 Nigeria Total Jun-09 Jul-13 425,000 297,000 Deepwater Discovery (6), (7) ship 10,000 30,000 Brazil Aug-11 Aug-13 463,000 425,000 Deepwater Frontier (6) ship 10,000 30,000 Australia ExxonMobil Jan-12 Mar-14 475,000 477,000 Deepwater Millennium (6) ship 10,000 30,000 Mozambique Anadarko Jan-12 Aug-13 553,000 576,000 Deepwater Pathfinder (6) ship 10,000 30,000 USGOM Eni Aug-10 Apr-15 671,000 550,000 Deepwater Expedition (6) ship 8,500 30,000 Malaysia See Footnote 29 See Footnote 29 See Footnote 29 See Footnote 29 See Footnote 29 Cajun Express (6), (7) semi 8,500 35,000 Brazil May-10 Jun-13 529,000 493,000 Deepwater Nautilus (6) semi 8,000 30,000 USGOM Shell Dec-08 Aug-12 550,000 493,000 GSF Explorer ship 1972/1998 7,800 30,000 Indonesia Marathon-led Consortium May-10 Aug-12 510,000 426,000 Discoverer Luanda (6), (15) ship 7,500 40,000 Angola Jan-11 Jan-18 430,000 N/A GSF Development Driller I (6) semi 7,500 37,500 USGOM BHP Billiton Jun-08 Oct-12 521,000 220,000 GSF Development Driller II (6) semi 7,500 37,500 USGOM Nov-08 Nov-13 580,000 208,000 Development Driller III (6) semi 7,500 37,500 USGOM Nov-09 Nov-16 403,000 N/A Sedco Energy semi 7,500 35,000 Ghana Tullow Oct-11 Nov-13 440,000 N/A Sedco Express (6) semi 7,500 35,000 Israel Noble Energy Dec-11 Mar-12 470,000 530,000 Israel ATP Mar-12 May-12 490,000 470,000 Israel Noble Energy Jun-12 Dec-12 500,000 470,000 Total Estimated Days Out of Service Estimated Average Contract Dayrate (5) $514,000 $505,000 $505,000 $503,000 $503,000 Revisions to Fleet Status Report Noted in Bold Dynamically positioned High Specification Floaters: Page 3 Yr. (1) Water Drilling Estimated Current Previous Floater Entered Depth Depth Contract Estimated Contract (3) Contract (3) Estimated Out of Service Days (4) Rig Type/Name (32) Type Service Location Customer Start Date (2) Expiration Date (2) (Dollars) (Dollars) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Revisions to Fleet Status Report Noted in Bold Dynamically positioned Deepwater (16) Deepwater Navigator (7), (8) ship 1971/2000 7,200 25,000 Brazil May-11 Feb-16 (21) 372,000 190,000 Discoverer 534 ship 1975/1991 7,000 25,000 Malaysia Stacked Discoverer Seven Seas ship 1976/1997 7,000 25,000 India ONGC Jun-11 Jan-12 295,000 316,000 Transocean Marianas (6) semi 1979/1998 7,000 30,000 Nigeria / Ghana ENI Feb-11 Dec-12 450,000 450,000 Sedco 706 (6), (7) semi 1976/1994/ 6,500 25,000 Brazil Chevron Apr-09 Apr-14 311,000 N/A Sedco 702 (6), (7), (32) semi 1973/2007 6,500 25,000 Nigeria Shell Mar-08 Mar-12 357,000 N/A Sedco 707 (7), (8), (32) semi 1976/1997 6,500 25,000 Brazil Nov-09 Nov-14 (21) 396,000 188,000 GSF Celtic Sea semi 1982/1998 5,750 25,000 Angola ExxonMobil Sep-11 Sep-12 320,000 486,000 Angola ExxonMobil Sep-12 Sep-13 324,000 320,000 Angola ExxonMobil Sep-13 Sep-14 328,000 324,000 Jack Bates semi 1986/1997 5,400 30,000 Australia Hess Jan-12 Jul-12 380,000 420,000 Australia Santos Jul-12 May-13 380,000 380,000 Sedco 709 semi 1977/1999 5,000 25,000 Malaysia Stacked M.G. Hulme, Jr. (7) semi 1983/1996 5,000 25,000 India ONGC Sep-11 Sep-12 220,000 N/A Transocean Richardson semi 5,000 25,000 Malaysia Stacked Jim Cunningham semi 1982/1995 4,600 25,000 Malaysia Stacked Sedco 710 (7), (8) semi 1983/2001 4,500 25,000 Brazil Oct-10 Sep-16 (21) 286,000 128,000 Transocean Rather semi 4,500 25,000 Angola ExxonMobil Nov-11 Jan-12 256,000 437,000 Angola ExxonMobil Jan-12 Aug-12 437,000 256,000 Sovereign Explorer semi 4,500 25,000 USGOM Stacked Total Estimated Days Out of Service Estimated Average Contract Dayrate (5) $339,000 $352,000 $351,000 $344,000 $350,000 Harsh Environment (7) Transocean Barents (6), (7) semi 10,000 30,000 Oct-11 Jul-12 555,000 N/A Jul-12 Jul-14 564,000 (27) 555,000 Transocean Spitsbergen (6), (7), (26) semi 10,000 30,000 Statoil Oct-11 Jul-13 495,000 N/A Henry Goodrich (6) semi 1985/2007 5,000 30,000 Canada Husky Oct-10 Jan-14 337,000 381,000 Transocean Leader (6), (7), (32) semi 1987/1997 4,500 25,000 Statoil Sep-09 Feb-12 464,000 340,000 Statoil Feb-12 Feb-15 403,000 464,000 Paul B. Loyd, Jr. (6), (7) semi 2,000 25,000 UKNS Apr-09 Mar-12 517,000 312,000 UKNS Mar-12 Mar-13 343,000 517,000 Transocean Arctic (6), (7) semi 1,650 25,000 Statoil Jan-07 Jul-12 295,000 195,000 Rig Management Norway Jul-12 Jun-13 417,000 295,000 Rig Management Norway Jun-13 Feb-14 409,000 417,000 Polar Pioneer (6), (7) semi 1,500 25,000 Statoil Feb-10 Jan-14 519,000 309,000 Total Estimated Days Out of Service Estimated Average Contract Dayrate (5) $463,000 $465,000 $421,000 $432,000 $437,000 Page 4 Yr. (1) Water Drilling Estimated Current Previous Floater Entered Depth Depth Contract Estimated Contract (3) Contract (3) Estimated Out of Service Days (4) Rig Type/Name (32) Type Service Location Customer Start Date (2) Expiration Date (2) (Dollars) (Dollars) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Revisions to Fleet Status Report Noted in Bold Dynamically positioned Midwater Floaters (25) Sedco 700 semi 1973/1997 3,600 25,000 Malaysia Stacked Transocean Legend semi 3,500 25,000 Australia Conoco Phillips Feb-12 Mar-13 293,000 300,000 Transocean Amirante semi 1978/1997 3,500 25,000 Egypt Burullus Gas Company Aug-11 Jun-12 247,000 364,000 GSF Arctic I (6), (7) semi 1983/1996 3,400 25,000 Brazil Starfish Jan-11 Mar-12 250,000 287,000 Brazil Vanco May-12 Jan-13 270,000 250,000 C. Kirk Rhein, Jr. semi 1976/1997 3,300 25,000 Malaysia Stacked Transocean Driller (7), (8) semi 3,000 25,000 Brazil Jul-10 Jul-16 263,000 116,000 GSF Rig 135 semi 2,800 25,000 Nigeria Jun-11 Jan-12 254,000 264,000 GSF Rig 140 (6), (32) semi 2,800 25,000 India ONGC Mar-12 Mar-14 260,000 N/A Falcon 100 (7), (8) semi 1974/1999 2,400 25,000 Brazil Mar-08 Mar-13 248,000 180,000 GSF Aleutian Key semi 1976/1999/ 2,300 25,000 Gabon Stacked Sedco 703 semi 1973/1995 2,000 25,000 Malaysia Stacked Sedco 711 (7) semi 1,800 25,000 UKNS Shell Oct-11 Jan-12 264,000 418,000 UKNS ADTI Jan-12 Feb-12 See Footnote 9 264,000 UKNS ADTI Feb-12 Mar-12 See Footnote 9 See Footnote 9 UKNS Talisman May-12 May-13 275,000 (28) See Footnote 9 Transocean John Shaw (7) semi 1,800 25,000 UKNS Taqa Mar-12 Sep-12 274,000 246,000 GSF Arctic III semi 1,800 25,000 Ireland Providence Oct-11 Feb-12 248,000 252,000 (6), (7) Nexen Mar-12 Sep-12 280,000 248,000 Sedco 712 semi 1,600 25,000 UKNS Stacked Sedco 714 (7) semi 1983/1997 1,600 25,000 UKNS Total Jun-11 Dec-12 253,000 256,000 GSF Grand Banks (6), (8) semi 1,500 25,000 Canada Husky Jan-11 Jan-13 297,000 356,000 Actinia (32) semi 1,500 25,000 Malaysia Oct-11 Jan-12 222,000 190,000 India ONGC May-12 May-15 190,000 222,000 Sedco 601 semi 1,500 25,000 Malaysia Stacked semi 1972/1993 1,500 25,000 Congo Total Aug-11 Jan-12 235,000 210,000 Transocean Winner (6), (7) semi 1,500 25,000 Lundin Apr-10 Oct-12 482,000 390,000 Marathon Oct-12 Oct-13 450,000 482,000 Transocean Searcher (6), (7) semi 1983/1988 1,500 25,000 Statoil May-09 May-12 429,000 395,000 May-12 May-14 389,000 429,000 Transocean Prospect (7), (32) semi 1983/1992 1,500 25,000 UKNS Nexen Jun-11 Feb-13 242,000 N/A J.W. McLean semi 1974/1996 1,250 25,000 UKNS Stacked Sedco 704 semi 1974/1993 1,000 25,000 UKNS Premier Oil Dec-11 Mar-12 252,000 Total Estimated Days Out of Service Estimated Average Contract Dayrate (5) $281,000 $292,000 $295,000 $287,000 $287,000 Page 5 Yr. (1) Water Drilling Estimated Current Previous Floater Entered Depth Depth Contract Estimated Contract (3) Contract (3) Estimated Out of Service Days (4) Rig Type/Name (32) Type Service Location Customer Start Date (2) Expiration Date (2) (Dollars) (Dollars) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Revisions to Fleet Status Report Noted in Bold Dynamically positioned High Specification Jackups (9) GSF Constellation I (6) 30,000 Gabon Total Dec-10 May-12 100,000 110,000 Gabon Mitsubishi May-12 Jul-12 140,000 100,000 GSF Constellation II (17) 30,000 Egypt Feb-10 May-12 109,000 194,000 GSF Galaxy I 1991/2001 30,000 UKNS Stacked GSF Galaxy II (7) 30,000 UKNS GDF Suez Jul-11 Apr-12 167,000 N/A GDF Suez Apr-12 Jan-13 190,000 167,000 GSF Galaxy III (6), (7) 30,000 UKNS Nexen Oct-07 Jan-12 109,000 100,000 UKNS Nexen Jan-12 Jan-13 144,000 109,000 GSF Baltic (6), (7) 25,000 Nigeria ExxonMobil Jun-10 Jun-12 100,000 248,000 GSF Magellan 30,000 Nigeria ExxonMobil Dec-11 Nov-12 143,000 N/A GSF Monarch (6) 30,000 Denmark Maersk Oil Jul-11 Jun-12 94,000 N/A GSF Monitor 30,000 Nigeria Shebah E&P Nov-11 Feb-12 123,000 94,000 Ivory Coast Rialto Energy Feb-12 May-12 118,000 123,000 Total Estimated Days Out of Service Estimated Average Contract Dayrate (5) $114,000 $124,000 $130,000 $153,000 $158,000 Standard Jackups (49) - See Footnote 30 Trident IX 21,000 Malaysia Jul-11 Jul-13 114,000 N/A Trident 17 25,000 Malaysia Stacked GSF Adriatic II 25,000 Gabon Stacked GSF Adriatic IX 25,000 Nigeria Afren Jul-11 Aug-12 100,000 92,000 GSF Adriatic X 30,000 Nigeria Jun-11 Jul-12 110,000 N/A Nigeria Jul-12 Jan-13 130,000 110,000 GSF Key Manhattan 25,000 Italy Eni Apr-10 Apr-13 137,000 N/A GSF Key Singapore 25,000 Egypt Stacked GSF Adriatic VI 25,000 Gabon Stacked GSF Adriatic VIII 25,000 Gabon Stacked C.E. Thornton 25,000 India ONGC May-12 May-15 83,000 N/A D.R. Stewart 25,000 Croatia Stacked F.G. McClintock 25,000 India ONGC May-12 May-15 83,000 N/A GSF Adriatic I 25,000 Gabon Stacked GSF Adriatic V 25,000 Gabon Stacked GSF Compact Driller 25,000 Thailand Chevron Oct-09 Apr-12 100,000 (18) 196,000 Thailand Chevron Apr-12 Dec-12 100,000 100,000 (18) GSF Galveston Key 25,000 Cuu Long JOC Nov-11 Apr-12 116,000 103,000 Malaysia May-12 Nov-13 119,000 116,000 GSF Key Gibraltar 1976/1996 25,000 Thailand Chevron Jul-11 Jun-14 105,000 (18) N/A GSF Key Hawaii 25,000 Sep-11 Mar-12 116,000 N/A GSF Main Pass I 25,000 Saudi Arabia Saudi Aramco Jun-11 Sep-14 73,000 164,000 GSF Main Pass IV 25,000 Saudi Arabia Saudi Aramco Jul-11 Oct-14 73,000 164,000 GSF Parameswara 20,000 Indonesia Total Nov-09 Dec-12 122,000 168,000 GSF Rig 134 20,000 Malaysia Stacked Harvey H. Ward 25,000 Indonesia Pertamina Nov-11 May-13 97,000 N/A Interocean III 1978/1993 25,000 Egypt Stacked J.T. Angel 25,000 India ONGC May-10 May-13 65,000 N/A Randolph Yost 25,000 India Stacked Roger W. Mowell 25,000 Malaysia Stacked Ron Tappmeyer 25,000 India ONGC Jun-10 Jun-13 65,000 64,000 Transocean Shelf Explorer 20,000 Malaysia Stacked Transocean Nordic 25,000 Malaysia Stacked Trident 15 25,000 Thailand Chevron Feb-10 Feb-12 92,000 (19) 100,000 Thailand Chevron Feb-12 Jun-13 100,000 100,000 Trident 16 (32) 25,000 Malaysia Sep-11 Jan-12 118,000 189,000 Thailand Chevron Apr-12 Apr-13 124,000 118,000 Page 6 Yr. (1) Water Drilling Estimated Current Previous Floater Entered Depth Depth Contract Estimated Contract (3) Contract (3) Estimated Out of Service Days (4) Rig Type/Name (32) Type Service Location Customer Start Date (2) Expiration Date (2) (Dollars) (Dollars) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Revisions to Fleet Status Report Noted in Bold Dynamically positioned Trident II 1977/1985 25,000 India ONGC Mar-10 Apr-15 78,000 140,000 Trident IV-A 1980/1999 25,000 Gabon Stacked Trident VIII (23) 21,000 Gabon Perenco Oct-11 Apr-13 96,000 85,000 Trident XII 1982/1992 25,000 India ONGC May-10 May-13 65,000 140,000 Trident XIV 1982/1994 25,000 Angola Chevron May-11 Jan-12 102,000 154,000 GSF High Island II 20,000 Saudi Arabia Saudi Aramco Jul-11 Oct-14 73,000 164,000 GSF High Island IV 1980/2001 20,000 Saudi Arabia Saudi Aramco May-07 Sep-14 73,000 107,000 GSF High Island V 20,000 Gabon Stacked GSF High Island IX 20,000 Saudi Arabia Saudi Aramco Aug-12 Aug-15 117,000 N/A GSF High Island VII 20,000 Nigeria Afren Dec-11 Mar-12 110,000 100,000 Cameroon Apr-12 Oct-12 125,000 110,000 GSF Rig 103 20,000 Egypt Stacked GSF Rig 105 20,000 Egypt Jan-11 Feb-12 62,000 112,000 GSF Rig 124 20,000 Egypt Dec-11 Jan-12 63,000 N/A GSF Rig 127 20,000 Bahrain Stacked GSF Rig 141 20,000 Egypt GUPCO Jul-11 Jul-13 55,000 N/A 20,000 Egypt GUPCO Sep-09 Sep-12 50,000 112,000 Trident VI 21,000 Malaysia Stacked Total Estimated Days Out of Service Estimated Average Contract Dayrate (5) $90,000 $90,000 $91,000 $92,000 $93,000 Swamp Barges (1) Hibiscus (6), (15) 1979/1993 20,000 Indonesia Total Oct-07 Dec-12 73,000 74,000 1,056 1,345 Page 7 Yr. (1) Water Drilling Estimated Current Previous Floater Entered Depth Depth Contract Estimated Contract (3) Contract (3) Estimated Out of Service Days (4) Rig Type/Name (32) Type Service Location Customer Start Date (2) Expiration Date (2) (Dollars) (Dollars) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Revisions to Fleet Status Report Noted in Bold Dynamically positioned Fixed-Price Options (10) Harsh Environment Transocean Barents (6), (7) semi 10,000 30,000 Jul-14 Jul-16 564,000 (27) 564,000 (27) Transocean Spitsbergen (6), (7), (26) semi 10,000 30,000 Statoil Jul-13 Jul-15 537,000 495,000 Statoil Jul-15 Jul-17 537,000 537,000 Transocean Leader (6), (7) semi 1987/1997 4,500 25,000 Statoil Feb-15 Feb-16 403,000 403,000 Paul B. Loyd, Jr. (6), (7) semi 2,000 25,000 UKNS Mar-13 Jun-13 343,000 343,000 UKNS Jun-13 Sep-13 343,000 343,000 Transocean Arctic (6), (7) semi 1,650 25,000 Rig Management Norway Feb-14 Aug-14 413,000 409,000 Rig Management Norway Oct-14 Mar-15 413,000 413,000 Midwater Floaters Sedco 711 (7) semi 1,800 25,000 UKNS ADTI Mar-12 Apr-12 See Footnote 9 See Footnote 9 Transocean Searcher (6), (7) semi 1983/1988 1,500 25,000 May-14 Nov-15 389,000 389,000 Transocean Prospect (7), (32) semi 1983/1992 1,500 25,000 UKNS Nexen Feb-13 Aug-13 245,000 242,000 Transocean Winner (6), (7) semi 1,500 25,000 Marathon Oct-13 Aug-14 450,000 450,000 High Specification Jackups GSF Constellation II (17) 30,000 Egypt Aug-12 Oct-12 115,000 109,000 Egypt Oct-12 Apr-13 118,000 115,000 GSF Galaxy III (6), (7) 30,000 UKNS Nexen Jan-13 Jul-13 144,000 144,000 GSF Monarch (6) 30,000 Denmark Maersk Oil Jun-12 Oct-12 92,000 94,000 Denmark Maersk Oil Oct-12 Feb-13 92,000 92,000 Denmark Maersk Oil Feb-13 Jun-13 92,000 92,000 GSF Monitor 30,000 Ivory Coast Rialto Energy May-12 Jun-12 118,000 118,000 GSF Magellan 30,000 Nigeria ExxonMobil Nov-12 May-13 160,000 143,000 Standard Jackups Harvey H. Ward 25,000 Indonesia Pertamina May-13 Nov-13 97,000 97,000 GSF Key Hawaii 25,000 Mar-12 May-12 116,000 116,000 Trident VIII 21,000 Gabon Perenco Apr-13 Oct-13 Footnote 23 96,000 Revenue Efficiency Q3 2011 Actual Q2 2011 Actual Q1 2011 Actual Q4 2010 Actual Q3 2010 Actual Q2 2010 Actual Q1 2010 Actual Q4 2009 Actual Ultra Deepwater 86.4% 89.3% 85.3% 86.1% 86.5% 89.1% 92.2% 92.2% Deepwater 87.7% 93.9% 88.2% 88.6% 90.1% 92.8% 89.7% 91.9% Harsh Environment Floaters 94.4% 98.4% 99.2% 96.1% 96.4% 96.9% 94.8% 97.7% Midwater Floaters 90.8% 91.9% 93.6% 85.0% 96.2% 93.9% 94.7% 95.1% High Specification Jackups 97.3% 95.6% 95.1% 97.7% 93.3% 98.9% 92.5% 98.2% Standard Jackups 98.2% 98.4% 97.7% 98.9% 96.4% 97.3% 97.1% 93.7% Others 99.5% 97.6% 99.0% 96.1% 99.6% 98.5% 99.5% 98.7% Estimated Contract Drilling Revenue can be calculated as: Paid Days on Contract * Average Contract Dayrate * Revenue Efficiency Revenue Efficiency is defined as actual contract drilling revenue divided by the highest amount of total contract drilling revenue which could have been earned during the relevant period(s) expressed as a percentage. Revenue Efficiency measures how much revenue we have earned against our maximum potential revenue per the contract. Revenue Efficiency does not apply during Out of Service Days (Shipyard, Mobilizations, Demobilizations, Contract Preparation). The following table has been restated for Caspian Sea discontinued operations. Page 8 Start Date Discoverer 534 6/16/2011 Sedco 709 Prior to 2010 Transocean Richardson 3/15/2011 Jim Cunningham 5/13/2010 Sovereign Explorer 11/1/2010 Sedco 700 Prior to 2010 C. Kirk Rhein, Jr. Prior to 2010 GSF Aleutian Key 1/9/2010 Sedco 703 Prior to 2010 Sedco 712 Prior to 2010 Sedco 601 4/9/2011 J.W. McLean 4/13/2011 GSF Galaxy I Prior to 2010 Trident 17 Prior to 2010 GSF Adriatic II Prior to 2010 GSF Key Singapore 10/21/2010 GSF Adriatic VI Prior to 2010 GSF Adriatic VIII 7/3/2010 D.R. Stewart 8/7/2010 GSF Adriatic I Prior to 2010 GSF Adriatic V Prior to 2010 GSF Rig 134 5/3/2010 Interocean III Prior to 2010 Randolph Yost 9/15/2010 Roger W. Mowell 8/29/2010 Transocean Shelf Explorer Prior to 2010 Transocean Nordic Prior to 2010 Trident IV-A Prior to 2010 GSF High Island V Prior to 2010 GSF Rig 103 Prior to 2010 GSF Rig 127 Prior to 2010 Trident VI Prior to 2010 High Specification Jackups (1) However, stacked rigs will continue to incur operating costs at or above normal operating costs for 30 to 60 days following initiation of stacking. Revisions to Fleet Status Report Noted in Bold Standard Jackups (19) Stacked Rigs Deepwater (5) Midwater Floaters (7) Page 9 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32) As a result of the requirement for third party certification of well control equipment on rigs operating in the U.S. Gulf of Mexico, and potential future requirements imposed by our customers, other regulators, and industry standards, Transocean preemptively embarked on a well control equipment certification program in 2010. We have acquired third party certification of well control equipment on 29 of our 63 active floaters, including 18 of 27 of our ultra deepwater rigs. All of the rigs currently operating in the Gulf of Mexico have been certified to meet existing regulatory and customer requirements. Rigs that move between locations or customers may require additional well control equipment certification even if the rigs meet Transocean’s certification program, current customer or regulatory requirements. In 2012, the following rigs are planned to conduct extensive well control equipment overhaul during their out of service period: GSF Rig 140, Trident 16, Transocean Prospect, Actinia, Sedco 707, Sedco 702, CR Luigs and Transocean Leader. This period represents the mobilization from Romania/Black Sea to USGOM with a base dayrate of $640,000. Dayrate excludes additional premiums for parallel operations at well centers, dynamic position operations and HPHT operations. Reduced dayrate will apply up to a maximum of 200 days for operation in While the customer has the option to add any out of service days to the end of the contract, the Estimated Expiration Date does not reflect any extension due to this option until actually exercised by the customer. The contract guarantees a minimum of 240 days at this dayrate which applies for drilling HPHT wells. The dayrate will become $265,000 if the rig drills standard wells. We have been awarded a five-year drilling contract by Chevron which requires the construction and operation of a Keppel FELS Super B Class Jackup named Transocean Ao Thai. Operations are expected to commence during the fourth quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first 36 months of the contract, the contract dayrate is $135,000, excluding escalation. The dayrate may be adjusted for the The customer has the option to extend the contract for an additional six month period at any time prior to October 30, 2012 at a dayrate with a floor of $85,000 and a ceiling of $130,000, to be mutually agreed The customer has the right to extend the program in USGOM for another 6 months. Footnotes Represents the full operating dayrate, although the average dayrate over the term of the contract will be lower and could be substantially lower. Does not reflect incentive programs which are typically based on the rig's operating performance against a performance curve. Please refer to the “Customer Contract Duration and Dayrates and Risks Associated with Operations” section of the Disclaimers & Definitions for a description of dayrates. This column may not reflect the rate currently being received under the contract as a result of an applicable standby rate or other rate, which typically is less than the contract dayrate. Dates shown are the original service date and the date of the most recent upgrade, if any. contract which is estimated to commence on May 24, 2011 will be reported as commencing in May 2011). Expiration dates represent the company's current estimate of the earliest date the contract for each rig is likely to expire. Some rigs have two or more contracts in continuation, so the last line shows the estimated earliest availability. Many contracts permit the customer to extend the contract. The out of service time represents those days where a rig is scheduled to be out of service and not be available to earn an operating dayrate. Please refer to the “Out of Service Days (Shipyards, Mobilizations, Demobilizations, Contract Preparation)” section of the Disclaimers & Definitions for a full description. Estimated Average Contract Dayrate is defined as the average contracted full operating dayrate to be earned per revenue earning day. See note (3) for definition of full operating dayrate. Reflects the current contracted dayrate which could reflect prior cost escalations and could change in the future due to further cost escalations. Reflects the current contracted dayrate which is comprised of a foreign currency component and which could change due to foreign exchange adjustments. price options increases. During periods when dayrates on new contracts are decreasing relative to existing contracts, the likelihood of customers’ exercising fixed price options declines. The customer may elect to have the operating dayrate for the last five years of the contract fluctuate based on crude oil price with a floor of $458,250 corresponding to a crude oil price of less than or equal to $50 per barrel, and a ceiling of $558,250 corresponding to a crude oil price of $100 per barrel or greater. Chevron has awarded Transocean Honor a three year contract in Angola. Operations are expected to commence the end of the first quarter of 2012, after shipyard construction followed by sea trials, mobilization to Angola and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. The contract dayrate is $149,000, excluding escalation. Until August 2012, the contract dayrate is $469,000, subject to cost escalation. The dayrate for the remainder of the contract is linked to the standard West Texas Intermediate crude oil price with a floor of $40 per barrel resulting in a contract dayrate of $400,000 and a ceiling of $70 per barrel resulting in a contract dayrate of $500,000, subject to cost escalation. The rig is owned by a joint venture in which the company owns less than a 100 percent interest. Dayrate reflects 100 percent of the contract rate. Current contract provides for a bonus incentive opportunity not reflected in the stated current contract dayrate. For the period of time that this rig is contracted to Applied Drilling Technology International, the drilling management services division of the company's U.K. operating subsidiary, or Applied Drilling Technology Inc., the company's U.S. drilling management services subsidiary, accounting rules require that we eliminate the revenues and costs related to those contracts from the contract drilling segment of the We have been awarded a five-year drilling contract by Chevron which requires the construction and operation of a Keppel FELS Super B Class Jackup named Transocean Siam Driller. Operations are expected to commence during the first quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first 36 months of the contract, the contract dayrate is $135,000, excluding escalation. The dayrate may We have been awarded a three-year drilling contract by Chevron which requires the construction and operation of a Keppel FELS Super B Class Jackup named Transocean Andaman. Operations are expected to commence during the first quarter of 2013, after shipyard construction followed by sea trials, mobilization to Thailand and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. The contract dayrate is $145,000, excluding escalation. Page 4 DISCLAIMERS & DEFINITIONS