Exhibit 99.1

 

 

 

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Transocean Ltd.
Investor Relations and Corporate Communications

 

 

 

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Analyst Contacts:

Thad Vayda

 

News Release

 

+1 713-232-7551

 

 

 

 

 

 

 

Diane Vento

 

 

 

+1 713-232-8015

 

 

 

 

 

 

Media Contact:

Guy A. Cantwell

 

FOR RELEASE: March 1, 2013

 

+1 713-232-7647

 

 

 

TRANSOCEAN LTD. REPORTS FOURTH QUARTER AND FULL YEAR 2012 RESULTS

 

·                  Fourth quarter 2012 revenues were $2.326 billion, compared with $2.431 billion in the third quarter 2012;

 

·                  Operating and maintenance expenses for the fourth quarter were $1.438 billion, compared with $1.321 billion in the third quarter 2012;

 

·                  Fourth quarter 2012 net income attributable to controlling interest was $456 million, which included $126 million of net favorable items.   This compares with the third quarter 2012 net loss attributable to controlling interest of $381 million, which included $887 million of net unfavorable items;

 

·                  Fourth quarter Annual Effective Tax Rate(1) from continuing operations was 7.8 percent, compared with 15.2 percent in the third quarter 2012;

 

·                  Fourth quarter net income attributable to controlling interest was $1.26 per diluted share.   After adjusting for net favorable items, adjusted earnings from continuing operations were $330 million, or $0.91 per diluted share;

 

·                  Cash flows from operating activities were $923 million in the fourth quarter, compared with $786 million in the third quarter 2012;

 

·                  Revenue efficiency(2) from continuing operations was 94.7 percent in the fourth quarter, compared with 94.9 percent, in the third quarter 2012.  Ultra-Deepwater revenue efficiency was 95.5 percent, compared with 95.9 percent in the prior quarter.  Total rig utilization(3) from continuing operations was 79 percent in the fourth quarter, compared with 80 percent in the third quarter 2012;

 

·                  New contracts associated with continuing operations totaling $2.0 billion were secured in the Fleet Status Report periods October 17, 2012 through February 14, 2013.  Backlog from continuing operations was $28.8 billion at February 14, 2013; and

 

·      During the fourth quarter of 2012, the company reclassified its drilling management services operations in the U.S. Gulf of Mexico to discontinued operations, reducing revenues and operating and maintenance expenses in the period by $51 million and $50 million, respectively.

 

ZUG, SWITZERLAND — Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported net income attributable to controlling interest of $456 million, or $1.26 per diluted share, for the three months ended December 31, 2012.  Fourth quarter 2012 results included net favorable items of $126 million, or $0.35 per diluted share.  The results compare with a net loss attributable to controlling

 


The following information was filed by Transocean Ltd. (RIG) on Friday, March 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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