Rig: Sedco 714

Name Sedco 714
Owner Caledonia Offshore Drilling 714 Limited
Manager Transocean Offshore Deepwater Drilling Inc.
Rig Type Semisub
Sub Type Midwater Floater
Jackup Type --
Max Water Depth (ft) 1600
Max Drill Depth (ft) 25000
Dimensions (ft) 295 x 249 x 130
Leg Length (ft) --
Competitive Yes

Current Location

Country UK
Region NWECS

Drilling Equipment

Drawworks Type National Oilwell Varco E-3000
Drawworks HP 2500
Mud Pumps Type National Oilwell Varco 14-P-220 Triplex
Top Drive National Oilwell Varco TDS-5
Hookload Capacity (lbs) 1300000

Rig Construction Details

Rig Design Earl & Wright
Rig Model SEDCO 711
Year Built 1983
Country of Build South Korea
Yard Name Ulsan Shipyard
Group Yard Name Hyundai Heavy Industries (HHI)

Rig Contract Details

Operating Status Cold Stacked
Operator --

Rig Images

News

16 Oct 2014

Transocean to offer shares and bonds for Caledonia Offshore

Transocean Ltd announced today that Transocean Inc. (Transocean), its wholly-owned subsidiary, intends to proceed with an unregistered offering of shares of Caledonia Offshore Drilling Company (Caledonia), a wholly owned subsidiary of Transocean, in connection with an offering being made to eligible investors in Norway and to eligible institutional investors internationally. The proposed offering of shares, which represents a minority interest in Caledonia's share capital, is intended to raise between USD125 million and USD185 million, with the net proceeds received by Transocean. Caledonia also proposes to make an unregistered offering of second lien senior secured bonds issued by Caledonia. The proposed offering of second lien senior secured bonds is intended to raise USD350 million. The net proceeds received by Caledonia, together with the proceeds expected to be received by Caledonia under a first lien bank facility, will be used to finance the acquisition by Caledonia of certain drilling rigs located in the U.K. North Sea from subsidiaries of Transocean. Transocean, or one of its affiliates, intends to purchase all of the second lien senior secured bonds issued by Caledonia in the bond offering. These offerings represent an incremental step in the execution of Transocean's asset strategy and provide the company with a flexible mechanism to maximize the value of its non-core rigs. The transactions are expected to close in the fourth quarter of 2014, subject to market and other customary conditions.

17 Jan 2013

Sedco 714 secures contract extension with Total

Transocean has announced that the company has secured an 18 month contract extension with Total for the Sedco 714 semisubmersible rig that is currently operating in the UK. The contract extension ensures that the unit will be fully contracted until October 2015 in the region, where it has been working since 2005 continuously for Total. Midwater rig availability in the UK offshore market is extremely tight and this contract extension has allowed Total to secure continuous usage of a valuable asset.

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