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" ... The drillships that Transocean intends to retire include its Deepwater Discovery (built in 2000), Deepwater Frontier (1999) and the Deepwater Millennium (1999). The Songa Trym semisubmersible (built in 1976), which was acquired as part of the company’s acquisition of Songa Offshore, will also be retired. While the drillships are all over 17 years old, these rigs are typically designed to stay in operation for upwards of 30 years, implying that they still have a considerable remaining useful life and book value. However, the retirement will only result in a non-cash charge for Transocean and will not impact the company’s financials or cash flows. ... "