* Tiber well is 35,050 feet deep in 4,130 feet of water
* Comes a day after 4 Transocean shallow-water rigs idled
SAN FRANCISCO, Sept 2 Transocean Ltd (RIG.N)
declared a well that one of its rigs drilled with BP Plc (BP.L)
to be the oil and gas industry's deepest -- another deepwater
success in the face of a deteriorating shallow-water market.
Earlier on Wednesday, Britain's BP had announced a "giant"
oil find in the same area of the Gulf of Mexico -- the Tiber
Prospect in Keathley Canyon block 102. [ID:nL2530648]
Transocean, the world's largest offshore rig contractor,
said its Deepwater Horizon rig drilled the Tiber well to a
vertical depth of 35,050 feet (10,683 metres) in 4,130 feet of
On the other hand, more bad news has emerged in shallower
waters. Transocean said on Tuesday three of its jackup rigs had
been taken off the market, or stacked -- the GSF Monitor in
Trinidad, GSF Key Hawaii in Bahrain and GSF Rig 103 in Egypt.
Transocean said another jackup, GSF Key Manhattan, was now
idle in Egypt, though it was still due to start a contract next
February for Italy's Eni (ENI.MI).
Analysts at Houston-based Tudor, Pickering, Holt & Co
Securities described the Transocean fleet update as a "slight
negative", but said the company remained a preferred offshore
drilling stock and that it was "no surprise" the jackup market
The fleet update showed one of the Transocean jackups still
working, the GSF Adriatic IX, now has a contract in Nigeria at
a rate of $97,000 per day, down from $188,000 previously.
(Reporting by Braden Reddall, editing by Leslie Gevirtz)