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) 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.

Transocean Ltd. Reports Second Quarter 2023 Results

Transocean's credit spreads have significantly narrowed over the past weeks. If the massive debt is no longer viewed as distressed, the leverage effect should continue providing a tailwind for Transocean's equity. Transocean's equity is likely to keep outperforming Noble and Valaris even if the latter two do better in terms of overall enterprise value.

Transocean's Credit Spreads Have Significantly Narrowed

Transocean's fleet status report exceeded analysts' expectations, with a backlog totaling $9.2 billion, largely due to new contract announcements. Despite the positive report, Transocean's stock price has not significantly reacted. Some analysts argue it is trading too high compared to its peers.

Transocean's Fleet Status Report Indicates A Healthy Backlog

Lower utilization and higher costs are likely to have hurt Transocean's (RIG) Q2 bottom line. However, impressive revenue efficiency might have aided the results somewhat.

Transocean (RIG) Q2 Earnings on Deck: What Would it Reveal?

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.

Earnings Preview: Transocean (RIG) Q2 Earnings Expected to Decline

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Transocean Announces $518 Million Drillship Contract

Transocean (RIG) secures a $518 million ultra-deepwater drillship contract, reinforcing its market position.

Transocean (RIG) Announces $518 Million Drillship Contract

The offshore drilling specialist will provide one of its three deepwater drillships for a new project in the Gulf of Mexico. It did not identify its counterpart in the deal.

Why Transocean Stock Triumphed on Tuesday

Continuing its impressive march higher this year, offshore contract drilling services specialist Transocean (NYSE: RIG ) popped sharply higher on Tuesday. Earlier this morning, management announced that it received an award from an independent operator for a 1,080-day contract regarding a high-specification seventh-generation, ultra-deepwater drillship in the Gulf of Mexico offshore Mexico.

RIG Stock Alert: The $518 Million Reason Transocean Is Up Today

Transocean Ltd. RIG, +1.54% said Tuesday it has been awarded a $518 million ultra-deepwater drillship contract by an independent operator in the Gulf of Mexico offshore Mexico.

Transocean wins $518 million ultra-deepwater drillship contract from independent operator

STEINHAUSEN, Switzerland, July 18, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that an independent operator awarded a 1,080-day contract for a high-specification seventh-generation, ultra-deepwater drillship in the Gulf of Mexico offshore Mexico. One of three drillships will be selected by Transocean from among Deepwater Invictus, Deepwater Thalassa, and Deepwater Proteus no later than one year prior to the earliest date in the commencement window.

Transocean Ltd. Announces $518 Million Ultra-Deepwater Drillship Contract

STEINHAUSEN, Switzerland, July 17, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the second quarter 2023 after the close of trading on the NYSE on Monday, July 31, 2023.

Transocean Ltd. Announces Second Quarter 2023 Earnings Release Date

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Transocean (RIG) announced $172 million in six one-well options exercised for semisubmersible rig drilling.

Transocean (RIG) Reports Exercise of Options for Rig Drilling

STEINHAUSEN, Switzerland, July 05, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that six one-well options have been exercised for the Transocean Encourage in Norway. The estimated 370 days of work will contribute approximately $172 million in backlog.

Transocean Ltd. Announces $172 Million in Options Exercised for Harsh Environment Semisubmersible

Last week, Transocean reported an impressive contract win for the harsh-environment semi-submersible rig Transocean Equinox. Including mobilization and demobilization fees, the rig's dayrate should be well above $500,000, a number not witnessed for almost a decade in the harsh environment floater space. While Transocean has demonstrated substantial progress on the semi-submersible front, the company has not reported a single drillship award in recent months.

Transocean: Total Backlog Likely To Be Down Sequentially Despite Impressive Contract Win

Transocean (RIG) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Transocean (RIG) Soars 9.2%: Is Further Upside Left in the Stock?

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Transocean, a leading offshore drilling company, has been awarded a $184 million contract for its semi-submersible, Transocean Equinox, in Australia. This deal, along with rising day rates in the offshore oil sector, suggests a positive outlook for the company despite low oil prices and potential recession. Transocean's day rates have significantly increased, reaching close to $500,000 a day from a low of $125,000 during the pandemic.

Transocean Gets A New Contract, Wider Recovery Expected

News for Transocean Stock (RIG)