Analyst Contacts:    Thad Vayda                News Release
+1 713-232-7551

Diane Vento
+1 713-232-8015

Media Contact:    Pam Easton                FOR RELEASE: February 25, 2015
+1 713-232-7647



TRANSOCEAN PARTNERS LLC REPORTS FOURTH QUARTER AND
FULL YEAR 2014 RESULTS

Revenues were $138 million, compared with $136 million in the third quarter of 2014;
Operating and maintenance expenses were $62 million, up from $56 million in the prior quarter;
Net income was $45 million, compared with $57 million in the third quarter of 2014;
Net income attributable to controlling interest was $19 million, or $0.28 per unit. This compares with $17 million, or $0.24 per unit in the third quarter of 2014;
The Annual Effective Tax Rate(1) was 8.2 percent, up from 7.8 percent sequentially;
Distributable cash flow attributable to controlling interest unitholders was $29 million, compared with $22 million, pro rata for the period from August 5, 2014, the company’s initial public offering, through September 30, 2014;
A minimum quarterly distribution of $0.3625 per unit has been declared;
Fleet revenue efficiency(2) was 96 percent, compared with 89 percent in the previous quarter; and
Fleet utilization(3) was 93 percent, compared to 100 percent in the third quarter.

ABERDEEN, SCOTLAND—February 25, 2015—Transocean Partners LLC (NYSE: RIGP) today reported net income of $45 million for the three months ended December 31, 2014; net income attributable to controlling interest was $19 million, or $0.28 per unit.
For the three months ended December 31, 2013, Transocean Partners LLC Predecessor’s (“Predecessor”)(4) net income was $46 million.
Revenues for the three months ended December 31, 2014 increased $2 million sequentially to $138 million. The increase was due primarily to higher revenue efficiency on the Discoverer Clear Leader and Discoverer Inspiration partially offset by lower utilization associated with the special periodic survey on the Discoverer Clear Leader.



The following information was filed by Transocean Partners Llc (RIGP) on Thursday, February 26, 2015 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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