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.

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Transocean reports robust Q4 earnings, eyes growth in global markets

Transocean's strong financial performance, strategic investments, and global contract wins position it well for growth despite cost pressures and operational constraints. The company's focus on simplifying its balance sheet and leveraging advanced drillship capabilities underscore its commitment to long-term success in the offshore drilling industry.

Transocean excels in Q1 2023, eyes growth in harsh environments

Transocean's Q1 performance reflects strong financials and market sustainability, supported by a robust backlog and strategic contract wins. While facing challenges in Norway and industry reactivation pace, the company is well-positioned to capitalize on opportunities in high-demand regions and innovative asset utilization.

Transocean reports solid Q2 performance amidst market opportunities

Transocean's Q2 2023 performance showed strong backlog growth and financial resilience.
The company's focus on top assets and long-term contracts positions it well for market improvements.
Challenges include cost management and potential regulatory impacts.
Opportunities lie in increasing demand, market up cycle, and strategic fleet decisions.

Transocean reports robust Q3 results, eyes revenue growth in 2024

Transocean's Q3 performance reflects strength in backlog growth and contract wins, despite challenges in contract lead times and market uncertainties. The company aims for revenue growth in 2024, focusing on long-term contracts and operational efficiency.

Transocean reports robust Q4 earnings and optimistic outlook for growth

Transocean's Q4 performance reflects financial resilience and operational excellence, supported by a strong backlog and strategic financial decisions. While challenges exist in a competitive market, the company's focus on efficiency and long-term contracts presents promising opportunities for sustained success.

Transocean reports solid Q1 performance and eyes growth opportunities

Transocean's Q1 performance showcases resilience amid operational challenges, with a focus on safety, efficiency, and long-term growth. The company's strategic initiatives and positive market outlook position it well to capitalize on increasing demand for deepwater rigs and drive future profitability.

Transocean reports solid Q2 performance, eyes offshore market growth

Transocean's Q2 2024 performance reflects operational stability and strategic contract wins, despite facing challenges in managing costs and profitability.
The company's focus on maximizing shareholder value and reducing debt aligns with efforts to improve financial health and balance sheet strength.
With opportunities in offshore drilling market growth and regional expansions, Transocean remains positioned for long-term success and revenue growth.

Transocean reports solid Q3 performance and bullish outlook for deepwater

Transocean delivered strong financial results in Q3 2024 and has a robust contracting outlook for the future.
Despite challenges related to blowout preventers, the company's focus on optimization and confidence in market demand are key strengths.
Opportunities for growth lie in the company's solidly booked fleet and strategic positioning in the deepwater drilling market.

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STEINHAUSEN, Switzerland, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Transocean Aquila Limited (“Transocean Aquila”), a wholly owned indirect subsidiary of Transocean Ltd., commenced a private offering of U.S. $300 million in aggregate principal amount of senior secured notes due 2028 (the “Notes”) to eligible purchasers pursuant to Rule 144A/Regulation S.

Transocean Ltd. Announces Proposed Private Offering of $300 Million of Secured Notes Due 2028

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The Transocean (NYSE: RIG) stock price has been in a strong bullish trend in the past two years. The shares jumped to a year-to-date high of $8.85 in August, the highest point since April 2019.

Transocean stock price: RIG technicals point to more upside

Transocean (RIG) enters into a three-year, $486 million contract with a national oil company for its Deepwater Aquila drillship. It also plans to acquire the outstanding interests in Liquila Ventures Ltd.

Transocean (RIG) Inks a $486M Contract for Deepwater Aquila

Transocean finally announced the eagerly-awaited maiden contract for the newbuild 7th generation drillship Deepwater Aquila. The three-year contract is valued at $486 million, with a $40 million mobilization fee on top. Work is expected to commence in Q3/2024. The decision to acquire the drillship from its joint venture partners is likely to result in some near-term cash flow pressures and higher debt levels.

Transocean Acquires Newbuild Drillship Following $486 Million Long-Term Contract Award - Buy

STEINHAUSEN, Switzerland, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a three-year award for the newbuild ultra-deepwater drillship Deepwater Aquila with a national oil company for work offshore Brazil. The contract is expected to commence in the third quarter of 2024 and represents approximately $486 million in firm backlog, excluding a mobilization fee of approximately 90 times the contract dayrate.

Transocean Ltd. Announces $486 Million Contract for Deepwater Aquila

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Last week's registration statement has caused some flurry among investors with Transocean Ltd.'s largest shareholder, Frederik Mohn seemingly looking to dispose of some or even all its holdings in the company. With Mr. Mohn's overall return on his investment in Transocean still negative and considering ongoing, strong industry conditions, I would be very surprised to see him selling shares anytime soon. Assuming full conversion of the company's remaining exchangeable notes, Transocean would be required to issue 143.2 million new shares.

Transocean: Registration Statement For Largest Shareholder No Reason To Worry - Buy

Transocean's average day rates have been rising, and it expects further increases in the future. The company's deleveraging story is becoming clearer and should start to play out next year. Given its current valuation, its deleveraging is partially priced into the stock, and the story will become more about reactivating cold-stacked vessels.

Transocean: Deleveraging Story Becomes Clearer

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Transocean (RIG) wins a $222M contract from Oil and Natural Gas Corporation for the Dhirubhai Deepwater KG1 (DDKG1) drillship, boosting offshore drilling.

Transocean (RIG) Secures $222M Drilling Contract From ONGC

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STEINHAUSEN, Switzerland, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that Oil and Natural Gas Corporation Ltd awarded the Dhirubhai Deepwater KG1 a binding Notification of Award for work offshore India. The 21-month program is expected to commence in the first quarter of 2024 and will contribute an estimated $222 million in backlog, excluding a mobilization fee of $5 million.

Transocean Ltd. Announces $222 Million Ultra-Deepwater Drillship Contract

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Management has now said that the convertible bondholders have asked about exercising their options, implying up to 20% dilution is on the table. I am not as concerned about it; a lot of it should already be priced in. Even focusing on the intrinsic value of the shares, the effect appears small relative to the uncertainty over the fundamental value of the company's drillships a few years out.

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Transocean (RIG) expects adjusted contract drilling revenues of $720 million in Q3 2023, with O&M expenses of $540 million and full-year adjusted contract revenues in the $2.9-$3 billion range.

Transocean (RIG) Q2 Loss Wider Than Expected, Revenues Beat

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Transocean Ltd. (NYSE:RIG ) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET Company Participants Alison Johnson - Director-IR Jeremy Thigpen - CEO Mark Mey - EVP and CFO Roddie Mackenzie - EVP and Chief Commercial Officer Conference Call Participants Kurt Hallead - Benchmark Eddie Kim - Barclays Greg Lewis - BTIG Fredrik Stene - Clarksons Securities Operator Good day, everyone, and welcome to today's Q2 2023 Transocean's Earnings Call.

Transocean Ltd. (RIG) Q2 2023 Earnings Call Transcript

Although the revenue and EPS for Transocean (RIG) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Transocean (RIG) Reports Q2 Earnings: What Key Metrics Have to Say

Transocean (RIG) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.10 per share a year ago.

Transocean (RIG) Reports Q2 Loss, Tops Revenue Estimates

STEINHAUSEN, Switzerland, July 31, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $165 million, $0.22 per diluted share, for the three months ended June 30, 2023.

News for Transocean Stock (RIG)