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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Transocean (RIG) delivered earnings and revenue surprises of -157.89% and 0.56%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Transocean (RIG) Reports Q4 Loss, Lags Revenue Estimates

STEINHAUSEN, Switzerland, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $350 million, $0.48 per diluted share, for the three months ended December 31, 2022.

Transocean Ltd. Reports Fourth Quarter and Full Year 2022 Results

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Transocean's (RIG) Fleet Status Report shows an $8.5 billion backlog as well as contract information for the company's fleet of offshore drilling rigs.

Transocean (RIG) Expands Its Backlog to $8.5 billion

Transocean Ltd. (RIG) offers the use of the Ocean Rig Olympia vessel, along with cash investment and engineering services to support GSR's exploration.

Transocean (RIG) Bets on GSR for Deep-Sea Mineral Exploration

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Company releases its latest fleet status report with backlog up by an impressive 16.5% sequentially but most awards had already been announced by the company in recent months. To continue its winning streak, Transocean will have to increasingly rely on securing work for its cold-stacked drillships but reactivation costs might prove prohibitive for some rigs.

Transocean Increases Backlog By 16.5% Sequentially - Buy

STEINHAUSEN, Switzerland, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that one of its wholly owned subsidiaries has agreed to make an investment in Global Sea Mineral Resources NV (“GSR”) in exchange for a non-controlling interest in the company. GSR is the deep-sea mineral exploratory division of DEME Group NV and is engaged in the development and exploration of deep-sea polymetallic nodules that contain metals critical to the growing renewable energy market, and is a leading developer of nodule collection technology.

Transocean Agrees to Investment in Global Sea Minerals Resources, Contributes Stacked Drillship

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Transocean (RIG) lands 910-day contract for Dhirubhai Deepwater KG2 in Brazil.

Transocean (RIG) Wins 910-Day Drilling Deal Set to Start in Q3

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Company extends its recent winning streak by adding another high-margin contract offshore Brazil for the currently idle drillship Dhirubhai Deepwater KG2. Earlier this month, the company successfully replenished liquidity and extended near-term debt maturities at reasonable terms.

Transocean Bags Another High-Margin Drillship Contract - Buy

STEINHAUSEN, Switzerland, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that the ultra-deepwater drillship, Dhirubhai Deepwater KG2, has been awarded a 910-day contract by a national oil company for work offshore Brazil. The estimated backlog of $392 million excludes a mobilization fee of 90 times the contract dayrate.

Transocean Ltd. Announces $392 Million Contract Award for Ultra-Deepwater Drillship

Does Transocean (RIG) have what it takes to be a top stock pick for momentum investors? Let's find out.

Transocean (RIG) is a Great Momentum Stock: Should You Buy?

STEINHAUSEN, Switzerland, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the fourth quarter and full year 2022, after the close of trading on the NYSE on Tuesday, February 21, 2023.

Transocean Ltd. Announces Fourth Quarter, Full Year 2022 Earnings Release Date

Transocean (RIG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

What Makes Transocean (RIG) a New Strong Buy Stock

Transocean: The Cold Stacked Rigs May Be The Next Question

Shares of Transocean have ripped higher to start 2023 and are up nearly 40% YTD. The company has been refinancing its debt to extend maturities. The backlog, which is over $8B, also continues to grow.

Transocean: Still A Strong Buy As Shares Rip Higher

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STEINHAUSEN, Switzerland, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary has priced its previously-announced offering of U.S. $1.175 billion aggregate principal amount of senior secured notes due 2030 (the “Notes”) to eligible purchasers pursuant to Rule 144A/Regulation S. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Transocean Ltd. In addition, the Notes will be guaranteed on a senior secured basis by certain of Transocean Inc.'s subsidiaries that guarantee the existing (i) 7.75% Senior Secured Notes due 2024 issued by Transocean Phoenix 2 Limited (the “Thalassa Notes”), (ii) 5.875% Senior Secured Notes due 2024 issued by Transocean Guardian Limited (the “Guardian Notes”), (iii) 6.25% Senior Secured Notes due 2024 issued by Transocean Proteus Limited (the “Proteus Notes”) and (iv) 6.125% Senior Secured Notes due 2025 issued by Transocean Pontus Limited (the “Pontus Notes” and collectively, the “Existing Secured Notes”), in each case, up to a secured guarantee cap equal to the principal amount of such notes being refinanced (together with any applicable premium, fees and expenses) (the “Secured Limited Guarantee Cap”). Accordingly, Transocean Inc.'s subsidiaries that guarantee the Thalassa Notes, the Guardian Notes, the Proteus Notes and the Pontus Notes, will be subject to a Secured Limited Guarantee Cap on the Notes equal to $247 million, $320 million, $256 million and $352 million, respectively.

Transocean Ltd. Announces Pricing of $1.175 Billion of Senior Secured Notes due 2030

STEINHAUSEN, Switzerland, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary has commenced an offering of U.S. $1.175 billion aggregate principal amount of senior secured notes due 2030 (the “Notes”) to eligible purchasers pursuant to Rule 144A/Regulation S. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Transocean Ltd. In addition, the Notes will be guaranteed on a senior secured basis by certain of Transocean Inc.'s subsidiaries that guarantee the existing (i) 7.75% Senior Secured Notes due 2024 issued by Transocean Phoenix 2 Limited (the “Thalassa Notes”), (ii) 5.875% Senior Secured Notes due 2024 issued by Transocean Guardian Limited (the “Guardian Notes”), (iii) 6.25% Senior Secured Notes due 2024 issued by Transocean Proteus Limited (the “Proteus Notes”) and (iv) 6.125% Senior Secured Notes due 2025 issued by Transocean Pontus Limited (the “Pontus Notes” and collectively, the “Existing Secured Notes”), in each case, up to a secured guarantee cap equal to the principal amount of such notes being refinanced (together with any applicable premium, fees and expenses) (the “Secured Limited Guarantee Cap”). Accordingly, Transocean Inc.'s subsidiaries that guarantee the Thalassa Notes, the Guardian Notes, the Proteus Notes and the Pontus Notes, will be subject to a Secured Limited Guarantee Cap on the Notes equal to $247 million, $320 million, $256 million and $352 million, respectively.

Transocean Ltd. Announces Proposed Private Offering of $1.175 Billion of Senior Secured Notes due 2030

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What Makes Transocean (RIG) a Strong Momentum Stock: Buy Now?

Transocean (RIG) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

News for Transocean Stock (RIG)