Transocean Ltd. Announces Impairment Charge of $1.009B

Transocean Ltd. RIG today announced that it expects its fourth quarter 2010 results to include an after-tax non-cash charge of $1.009 billion, or $3.16 per diluted share, resulting from the impairment of the Standard Jackup fleet. The impairment is due to projected declines in dayrates and utilization, which adversely impacted this asset group, and is calculated in accordance with U.S. generally accepted accounting principles.