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Unformatted text preview: B Falcon (which later became part of Transocean) by Hyundai Heavy Industries in Ulsan, South Korea. Construction started in December 1998, and the rig was delivered on February 23, 2001, after Transocean acquired R&B Falcon. At the time of the blowout, the Deepwater Horizon was registered in Majuro, Marshall Islands, and leased to BP. The Deepwater Horizon’s day rate at the time of the blowout was $533,495 and the rig’s total estimated daily operating costs were approximately $1 million. 20 As is common in the industry, under its contract with BP, Transocean was allowed a specific amount of time (in this case, up to twenty‐four hours per calendar month) for mechanical downtime to perform maintenance and repairs with a maximum accumulation of 12 days of downtime per year. 21 Transocean was not paid its day rate if the rig was not operational due to equipment repairs for time periods beyond this allotment. 22 TRN‐USCG_MMS‐00040941. TRN‐USCG_MMS‐00040482. 22 Id. 20 21 18 E. The Macondo Well BP acquired Lease OCS‐G 32306 in an MMS Central Gulf of Mexico lease sale on March...
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This note was uploaded on 01/18/2014 for the course BEPP 305 taught by Professor Nini during the Fall '11 term at UPenn.

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