ZUG, Switzerland—Transocean Ltd. (NYSE:RIG) intends to retire the ultradeepwater floaters GSF Jack Ryan, Sedco Energy, Sedco Express, Cajun Express, and Deepwater Pathfinder and the deepwater floater Transocean Marianas, it said on Sept. 22.

The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner. All six rigs were previously cold stacked.

Transocean Ltd. will recognize an impairment charge of approximately $1.4 billion during the third-quarter of 2017 associated with these actions.

“We continue to enhance the quality of our fleet through the addition of new, high-specification assets, and the retirement of older, less competitive rigs,” Jeremy Thigpen, President and CEO, said. “We remain committed to providing our customers with the most technically capable and highest quality ultradeep water and harsh environment assets in the industry and will continue to objectively evaluate our rigs and high-grade our fleet as the market evolves.”