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 Q1 2021

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Earnings data Q3 2023

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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.  08, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary (together with Transocean Ltd., “Transocean”), has received over $1.5 billion aggregate principal amount of validly tendered Exchange Notes (as defined below) as of September 4, 2020, pursuant to its previously announced offers (the “Exchange Offers”) to exchange certain existing notes (the “Existing Notes”) for up to an aggregate principal amount of $750 million (subject to increase or decrease by Transocean Inc., the “Maximum New Notes Amount”) of new 11.50% Senior Guaranteed Notes (the “New 2027 Senior Guaranteed Notes”) issued by Transocean Inc., pursuant to an Exchange Offer Memorandum and Consent Solicitation Statement, dated August 10, 2020 (as supplemented by the Supplement, dated August 24, 2020, and as may be further supplemented, the “Exchange Offer Memorandum”). Following the denial by the United States District Court for the Southern District of New York (the “Court”) of certain attempts to block the Exchange Offers, as further described below, Transocean intends to proceed with the Exchange Offers, including extending the Exchange Offers until the Revised Expiration Time (as defined below).

Transocean Ltd. Announces Successful Court Ruling, Extension of Exchange Offers and Current Exchange Results

It is widely recognized that Transocean is not facing a liquidity crunch.

Transocean Is A Survivor

Investors need to pay close attention to Transocean (RIG) stock based on the movements in the options market lately.

Do Options Traders Know Something About Transocean (RIG) Stock We Don't?

The early gain in Transocean's shares was nice to see, but you can't look at this move in isolation.

Why Transocean Stock Jumped 13% at the Open on Aug. 24

STEINHAUSEN, Switzerland, Aug.  24, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary (collectively with Transocean Ltd., “Transocean”), has amended its previously announced exchange offers (the “Exchange Offers”) to exchange certain existing notes (the “Existing Notes”) for up to an aggregate principal amount of $750 million (subject to increase or decrease by Transocean Inc., the “Maximum New Notes Amount”) of new notes (the “New 2027 Senior Guaranteed Notes”) issued by Transocean Inc., and terminated the related solicitation of consents (the “Consent Solicitations” and, together with the Exchange Offers, the “Offers”).

Transocean Ltd. Announces Early Results, Extension of Early Tender Time, Amendment to Exchange Offers and Termination of Consent Solicitations

Three of its biggest peers have already filed for bankruptcy this year.

Transocean Stock Crashes 28% on Bankruptcy Concerns

Transocean's Debt Management Exercise Is A Step In The Right Direction But Restructuring Risks Remain

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STEINHAUSEN, Switzerland, Aug.  10, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary (collectively with Transocean Ltd., “Transocean”), has commenced exchange offers (the “Exchange Offers”) to exchange the existing notes listed below (the “Existing Notes”) for up to an aggregate principal amount of $750,000,000 (subject to increase or decrease by Transocean Inc., the “Maximum New Notes Amount”) of the applicable series of new notes (the “New Senior Guaranteed Notes”) issued by Transocean Inc.

Transocean Ltd. Announces Exchange Offers and Consent Solicitations for certain Existing Notes

STEINHAUSEN, Switzerland, Aug.  10, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) announced today that it has executed an additional private exchange agreement relating to the 0.5% Exchangeable Bonds due 2023 (the “Existing Exchangeable Bonds”) issued by Transocean Inc., Transocean’s wholly-owned subsidiary.

Transocean Ltd. Announces Additional Private Exchange Agreement Relating to Existing Exchangeable Bonds

STEINHAUSEN, Switzerland, Aug.  05, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) announced today that it has executed a private exchange agreement relating to the 0.5% Exchangeable Bonds due 2023 (the “Existing Exchangeable Bonds”) issued by Transocean Inc., Transocean’s wholly-owned subsidiary, that it has commenced certain internal reorganization transactions, and that it is evaluating certain potential liability management transactions.

Transocean Ltd. Announces Private Exchange Agreement Relating to Existing Exchangeable Bonds, Certain Internal Reorganization Transactions, and Evaluation of Potential Liability Management Transactions

Transocean's (RIG) Ultra-deepwater floaters contribute to 68.4% of its total contract drilling revenues in Q2 while Harsh Environment floaters and Midwater floaters add up the rest.

Transocean's (RIG) Q2 Earnings Break Even, Revenues Rise Y/Y

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Transocean (RIG) CEO, Jeremy Thigpen on Q2 2020 Results - Earnings Call Transcript

Transocean (RIG) delivered earnings and revenue surprises of 100.00% and 22.89%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?

Transocean (RIG) Reports Break-Even Earnings for Q2

STEINHAUSEN, Switzerland, July  29, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $497 million, $0.81 per diluted share, for the three months ended June 30, 2020.

Transocean Ltd. Reports Second Quarter 2020 Results

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With oil prices recovering gradually, most analysts opine that the decline in weekly rig count will narrow down further.

US Oil & Gas Rig Tally Hits Record Lows for 11 Straight Weeks

Transocean (RIG) aims to trim 110 personnel from those working on Discoverer Inspiration, an ultra-deepwater drillship operating in international waters off the Gulf of Mexico.

Crude Woes: Transocean to Make 110 Employees Redundant

US Oil & Gas Rig Tally Hits Record Lows for 10 Straight Weeks

STEINHAUSEN, Switzerland, July  09, 2020  (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the second quarter of 2020, after markets close on Wednesday, July 29, 2020.

Transocean Ltd. Announces Second Quarter 2020 Earnings Release Date

The offshore driller enjoyed a bounce-back month.

Why Transocean's Stock Surged 37% in June

US Oil & Gas Rig Tally Hits All-Time Lows for 9 Straight Weeks

With oil prices recovering gradually, most analysts opine that the decline in the tally of monthly rig will narrow down further.

U.S. Rig Count Declines for the Fourth Consecutive Month

Shares of Transocean LTD (NYSE: RIG) traded slightly higher on Wednesday, but the stock has been among the worst performers in the market so far in 2020.

Transocean Option Trader Bets $1.3M On Near-Term Downside

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If the crude price recovery sustains, since more people are getting back to work on easing lockdown measures, many explorers will consider adding rigs in oil plays.

News for Transocean Stock (RIG)