Transocean

Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.

Earnings data Q2 2023

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It may be time to sell some of the top energy stocks, especially as they become overvalued. Sure, according to the International Energy Agency, rising post-Covid demand from China, coupled with tight supply, suggests that a crude oil rebound is possible later this year.

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It would be prudent to wait for a better entry point as the timing is still not right for investors to hit the Buy button on Transocean (RIG).

Transocean's (RIG) 30% YTD Surge: Will the Uptrend Continue?

Transocean has recently reported in-line earnings results. The company's management issued a very positive outlook and confirmed their willingness to reactivate cold-stacked rigs.

Transocean Stock Looks Attractive After Q1 Earnings Report

NEW YORK , May 10, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Transocean Ltd. ("Transocean" or the "Company") (NYSE: RIG).

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Transocean Ltd. - RIG

STEINHAUSEN, Switzerland, May 10, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) announced today that the Transocean Equinox was awarded a five-well contract in Australia by a major operator, representing approximately $137 million in firm backlog, excluding full payment for mobilization and a demobilization fee.

Transocean Ltd. Announces $137 Million Contract Award for Harsh Environment Semisubmersible

Transocean (RIG) expects adjusted contract drilling revenues of $735 million, operations and maintenance expenses of $460 million, net interest expenses of $118 million, capital expenditure of $100 million and cash taxes of $15 million for the second quarter.

Transocean's (RIG) Q1 Earnings Miss Estimates, Revenues Beat

Transocean is struggling to find work for most of its offshore drilling rigs.

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Transocean Ltd. (NYSE:RIG ) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants Alison Johnson – Director-Investor Relations Jeremy Thigpen – Chief Executive Officer Keelan Adamson – President and Chief Operating Officer Mark Mey – Executive Vice President and Chief Financial Officer Roddie Mackenzie – Executive Vice President and Chief Commercial Officer Conference Call Participants James West – Evercore ISI Thomas Johnson – Morgan Stanley Eddie Kim – Barclays David Smith – Pickering Energy Partners Kurt Hallead – Benchmark Fredrik Stene – Clarksons Securities Operator Good day, everyone and welcome to Q1 2023 Transocean's Earnings Call.

Transocean Ltd. (RIG) Q1 2023 Earnings Call Transcript

Transocean (RIG) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.28 per share a year ago.

Transocean (RIG) Reports Q1 Loss, Tops Revenue Estimates

STEINHAUSEN, Switzerland, May 01, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $465 million, $0.64 per diluted share, for the three months ended March 31, 2023.

Transocean Ltd. Reports First Quarter 2023 Results

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While strong revenue efficiency is likely to have boosted Transocean's (RIG) first-quarter results, escalation in costs might have neutralized those gains.

Will Transocean's (RIG) Revenue Efficiency Boost Q1 Earnings?

Transocean (RIG) and Eneti plan to start a joint venture, focusing on offshore wind foundation installation activities.

Transocean (RIG) & Eneti Team Up for Offshore Wind Projects

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The SPDR S&P 500 ETF SPY traded in a very tight range last week, leaving traders perplexed with regard to near-term market momentum. On Tuesday morning, however, the S&P has softened up slightly, and continued losses on the day may be an indicator that stocks have put in a near-term top.

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Transocean (RIG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Will Transocean (RIG) Report Negative Earnings Next Week? What You Should Know

Transocean (RIG) revises down incremental backlog in its first-quarter fleet status report, prompting a 4.4% decline in its stock price.

Transocean (RIG) Corrects Q1 Fleet Status Report, Stock Falls

STEINHAUSEN, Switzerland, April 19, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) and Eneti Inc. (NYSE: NETI) (“Eneti”) announced today the execution of a non-binding memorandum of understanding through their respective subsidiary companies indicating their intention to form a joint venture company that will engage in offshore wind foundation installation activities.

Transocean and Eneti Announce Intention to Enter into Joint Venture for Offshore Wind Foundation Installation

STEINHAUSEN, Switzerland, April 19, 2023 (GLOBE NEWSWIRE) -- On April 18, 2023, Transocean Ltd. published its quarterly fleet status report. The purpose of this press release is to correct an error in the first sentence of the third paragraph. The press release stated that the incremental backlog associated with the fixtures identified in the second paragraph was approximately $645 million. The correct amount is $546 million. The corrected amount is reflected in the updated press release, which follows. All other information remains unchanged, including the company's total backlog of $8.6 billion as of April 18, 2023.

CORRECTING and REPLACING -- Transocean Ltd. Provides Quarterly Fleet Status Report

Transocean: New Fleet Status Report Unlikely To Be A Catalyst For The Shares

Transocean Ltd.: Not Much Left To Expand

STEINHAUSEN, Switzerland, April 18, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs.

Transocean Ltd. Provides Quarterly Fleet Status Report

Transocean: Generating Hope, But Not Much Else

STEINHAUSEN, Switzerland, April 11, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the first quarter 2023 after the close of trading on the NYSE on Monday, May 1, 2023.

Transocean Ltd. Announces First Quarter 2023 Earnings Release Date

The oil and gas sector has faced turbulent times with the possibility of a global recession. This has translated into some correction for oil and gas stocks.

News for Transocean Stock (RIG)