For the second time this month, rig company Transocean said one of its clients announced it was canceling a contract for deep-water activity early. Transocean said Esso Exploration Angola Ltd., a subsidiary of Exxon Mobil that works on behalf of state energy companies, canceled its contract for the ultra-deepwater GSF Development Driller I rig. “The rig’s drilling contract is expected to end in May 2016 with the demobilization completed in June 2016,” Transocean said in a statement. “In accordance with the terms of this contract, the company will not receive a payment compensating it for the remaining contract term.” The rig entered into service in 2005 and was designed to operate in waters as deep as […]