Rig Stock – Transocean Deploys Patented HaloGuard℠ Drill Floor Technology NYSE:RIG
STEINHAUSEN, Switzerland, Feb. 11, 2021 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today the successful deployment of HaloGuard℠, the offshore drilling industry’s first safety system that integrates a wearable locating device with drill floor equipment and machine stoppage controls.
The HaloGuard℠ system combines a wearable alarm and a real time location transmitter together with a machine vision system that is designed to track the position of personnel on the drill floor and key drill floor equipment while operating. When a crew member comes within a certain proximity of moving equipment, he or she is notified by an alarm through the wearable device. In the event the crew member remains in close proximity of the moving equipment, the system will stop the equipment from moving until the crew member returns to a safer, more distant position. By enabling machines with the technology to track, sense and, if needed, stop operations, HaloGuard℠ provides an advanced layer of individual protection on the drill floor.
“We are extremely proud of our efforts to provide our crews with additional tools and resources to complement our industry-leading training and safety programs,” said Transocean President and CEO Jeremy Thigpen. “This deployment once again showcases Transocean’s ability to develop and advance innovation within offshore drilling. We believe HaloGuard℠ will be a differentiating safety system that others will want to utilize within our industry and potentially within other industries as well.”
Transocean’s patented HaloGuard℠ methodology and technology (Patent Nos. U.S. 10,402,662, U.S. 10,885,758 and patents pending) were developed with the assistance of Houston Mechatronics Inc. and Salunda Limited, and incorporate Salunda’s patented CrewHawk® real-time location technology. The HaloGuard℠ system is now operational on the Deepwater Conqueror, which is working in the Gulf of Mexico. Transocean plans to deploy the technology on six additional rigs by the end of 2021.
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 38 mobile offshore drilling units, including 27 ultra-deepwater floaters and 11 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, timing of the company’s newbuild deliveries, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the success of our business following prior acquisitions, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, such as COVID-19, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2019, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov. Should one or more of these risks or uncertainties materialize (or the other consequences of such a development worsen), or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to the company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com.
This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.
Rig Stock – Transocean Deploys Patented HaloGuard℠ Drill Floor Technology NYSE:RIG]
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