Offshore drilling giant
) has delivered its deep water floater Transocean Marianas to HRT
Participações em Petróleo S.A. - an independent oil and gas
exploration and production company. HRT has taken possession of
the rig offshore Ghana last week.
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Transocean Marianas - a semi-submersible drilling unit of Earl
& Wright Sedco 700 Series is able to operate up to a maximum
water depth of 5,300 feet and can drill up to a maximum depth of
The rig will move from Ghana to Namibia over the next three weeks
and will start its drilling operations in Namibia's Walvis and
Orange sedimentary basin under the contract from HRT. Before the
start of its drilling operations, the rig will undergo its
maintenance for 21 days.
Marianas will start drilling the first well in the Wingat
Prospect in Namibia's Walvis basin by the end of the first
quarter of this year under HRT's Petroleum Exploration License-23
(Pel-23). Wingat lies at a water depth of around 1000 meters,
where the operation is expected to last for 60 days.
In August last year, Transocean Ltd.'s midwater floater Sedco 714
got a one-year contract extension from oil and gas major
Switzerland-based Transocean Ltd. is the leading offshore
drilling contractor and provider of drilling management services
worldwide. Its current contract drilling fleet comprises 82
mobile offshore drilling facilities, which again include 48
high-specification deepwater floaters, 25 mid-water floaters and
9 high-specification jackups. The company currently has six ultra
deepwater drillships and three high-specification jackups under
Transocean Ltd. currently retains a Zacks Rank #3 (Hold),
implying that it is expected to perform in line with the broader
U.S. equity market over the next one to three months.
With less oil being discovered on land and with other drilling
companies having to dig even deeper to get to their reserves,
Transocean Ltd. is poised to benefit from a market with robust
multi-year demand trends, given its technologically advanced and
versatile drilling fleet. The company boasts state-of-the-art
mobile offshore drilling fleet that can function in most
challenging environments across the globe. It is the industry
leader in this field.
Other firms of the oil and gas sector, which are expected to
significantly outperform the equity markets in the next one to
three months are
Seadrill Partners LLC
Atlas Energy, L.P
), both of which are maintaining Zacks Rank #1 (Strong Buy).