Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 22, 2021, the company owned or had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater and 10 harsh environment floaters. It serves integrated oil companies, government-owned or government-controlled oil companies, and other independent oil companies. The company was founded in 1926 and is based in Steinhausen, Switzerland.
IPO Year:
Exchange: NYSE
Website: deepwater.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/15/2025 | $6.00 → $5.00 | Outperform → In-line | Evercore ISI |
| 12/18/2024 | $4.50 | Equal Weight → Overweight | Barclays |
| 12/6/2024 | $5.00 | Underweight → Neutral | Analyst |
| 10/15/2024 | Buy → Hold | The Benchmark Company | |
| 9/12/2024 | Buy → Neutral | Citigroup | |
| 9/3/2024 | Hold → Buy | DNB Markets | |
| 4/8/2024 | $5.50 → $9.00 | Neutral → Positive | Susquehanna |
| 11/28/2023 | $8.00 | Equal Weight | CapitalOne |
| 7/5/2023 | $6.50 → $9.50 | Neutral → Buy | Citigroup |
| 3/22/2023 | $7.50 | Neutral → Buy | Compass Point |
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4 - Transocean Ltd. (0001451505) (Issuer)
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4 - Transocean Ltd. (0001451505) (Issuer)
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Evercore ISI downgraded Transocean from Outperform to In-line and set a new price target of $5.00 from $6.00 previously
Barclays upgraded Transocean from Equal Weight to Overweight and set a new price target of $4.50
Analyst upgraded Transocean from Underweight to Neutral and set a new price target of $5.00
The Benchmark Company downgraded Transocean from Buy to Hold
Citigroup downgraded Transocean from Buy to Neutral
DNB Markets upgraded Transocean from Hold to Buy
Susquehanna upgraded Transocean from Neutral to Positive and set a new price target of $9.00 from $5.50 previously
CapitalOne initiated coverage of Transocean with a rating of Equal Weight and set a new price target of $8.00
Citigroup upgraded Transocean from Neutral to Buy and set a new price target of $9.50 from $6.50 previously
Compass Point upgraded Transocean from Neutral to Buy and set a new price target of $7.50
STEINHAUSEN, Switzerland, June 04, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced that a two-well option was exercised for the Transocean Spitsbergen in Norway. The program is expected to commence in the first quarter of 2026 in direct continuation of the rig's current program and contribute approximately $100 million in backlog, excluding additional services. About Transocean Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling
Three months ended Three months ended March 31, December 31, sequential March 31, year-over-year 2025 2024 change 2024 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$906 $952 $(46) $763 $143 Revenue efficiency (1) 95.5% 93.5% 92.9% Operating and maintenance expense$618 $579 $(39) $523 $(95)Net income (loss) attributable to controlling interest$(79) $7 $(86) $98 $(177)Basic earnings (loss) per share$(0.09) $0.01 $(0.10) $0.12 $(0.21)Diluted earnings (loss) per share$(0.11) $(0.11) $— $0.11 $(0.22) Adjusted EBITDA$244 $323 $(79) $199 $45 Adjusted EBITDA margin 26.9% 33.9% 26.0% Ad
STEINHAUSEN, Switzerland, April 17, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that, due to a scheduling conflict, it is changing the time of its first quarter 2025 earnings call. It will now conduct the teleconference starting at 10 a.m. EDT, 4 p.m. CEST, on Tuesday, April 29, 2025. As previously announced, the company's first quarter 2025 earnings will be reported on Monday, April 28, with the teleconference scheduled on Tuesday, April 29. Individuals who wish to participate in the call should dial +1 785-424-1619 approximately 15 minutes prior to the scheduled 10 a.m. EDT start time and refer to conference code 119877. The teleconference will be simulcast in a
STEINHAUSEN, Switzerland, April 16, 2025 (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. As of April 16, 2025, the company's total backlog is approximately $7.9 billion. The report can be accessed on the company's website: www.deepwater.com. About Transocean Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling s
STEINHAUSEN, Switzerland, April 10, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the first quarter 2025 on Monday, April 28, 2025. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, April 29, 2025. Individuals who wish to participate should dial +1 785-424-1619 approximately 15 minutes prior to the scheduled start time and refer to conference code 119877. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EDT, 6 p.m. CEST, on Apri
STEINHAUSEN, Switzerland, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today announced its plan for key leadership changes pursuant to the company's multi-year succession planning strategy. As part of this plan, Keelan Adamson, the company's President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the company's 2025 annual general meeting of shareholders. Mr. Thigpen
Three months ended Three months ended December 31, September 30, sequential December 31, year-over-year 2024 2024 change 2023 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$952 $948 $4 $741 $211 Adjusted contract drilling revenues$952 $948 $4 $748 $204 Revenue efficiency (1) 93.5% 94.5% 97.0% Operating and maintenance expense$579 $563 $(16) $569 $(10)Net income (loss) attributable to controlling interest$7 $(494) $501 $(104) $111 Basic earnings (loss) per share$0.01 $(0.56) $0.57 $(0.13) $0.14 Diluted loss per share$(0.11) $(0.58) $0.47 $(0.13) $0.02 Adjusted EBITDA$323 $3
STEINHAUSEN, Switzerland, Feb. 12, 2025 (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. This quarter's report includes the following updates: Dhirubhai Deepwater KG1 – Customer exercised a four-well option in India at a dayrate of $410,000.Transocean Enabler – Customer exercised a three-well option in Norway at a dayrate of $428,000.Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of $390,000. The aggregate incremental backlog associated with these fixtures is approximately $175 million. As of F
STEINHAUSEN, Switzerland, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the fourth quarter and full year 2024 on Monday, February 17, 2025. The company will conduct a teleconference to discuss the results starting at 9 a.m. EST, 3 p.m. CET, on Tuesday, February 18, 2025. Individuals who wish to participate should dial +1 785-424-1116 approximately 15 minutes prior to the scheduled start time and refer to conference code 540196. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EST, 6 p.m
STEINHAUSEN, Switzerland, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced that a four-well option was exercised for the Dhirubhai Deepwater KG1 with Reliance Industries Limited in India. The estimated 270-day program is expected to commence in direct continuation of the rig's firm term with Reliance and contribute approximately $111 million in backlog, excluding additional services. About Transocean Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater
Three months ended Three months ended March 31, December 31, sequential March 31, year-over-year 2025 2024 change 2024 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$906 $952 $(46) $763 $143 Revenue efficiency (1) 95.5% 93.5% 92.9% Operating and maintenance expense$618 $579 $(39) $523 $(95)Net income (loss) attributable to controlling interest$(79) $7 $(86) $98 $(177)Basic earnings (loss) per share$(0.09) $0.01 $(0.10) $0.12 $(0.21)Diluted earnings (loss) per share$(0.11) $(0.11) $— $0.11 $(0.22) Adjusted EBITDA$244 $323 $(79) $199 $45 Adjusted EBITDA margin 26.9% 33.9% 26.0% Ad
STEINHAUSEN, Switzerland, April 17, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that, due to a scheduling conflict, it is changing the time of its first quarter 2025 earnings call. It will now conduct the teleconference starting at 10 a.m. EDT, 4 p.m. CEST, on Tuesday, April 29, 2025. As previously announced, the company's first quarter 2025 earnings will be reported on Monday, April 28, with the teleconference scheduled on Tuesday, April 29. Individuals who wish to participate in the call should dial +1 785-424-1619 approximately 15 minutes prior to the scheduled 10 a.m. EDT start time and refer to conference code 119877. The teleconference will be simulcast in a
STEINHAUSEN, Switzerland, April 10, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the first quarter 2025 on Monday, April 28, 2025. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, April 29, 2025. Individuals who wish to participate should dial +1 785-424-1619 approximately 15 minutes prior to the scheduled start time and refer to conference code 119877. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EDT, 6 p.m. CEST, on Apri
Three months ended Three months ended December 31, September 30, sequential December 31, year-over-year 2024 2024 change 2023 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$952 $948 $4 $741 $211 Adjusted contract drilling revenues$952 $948 $4 $748 $204 Revenue efficiency (1) 93.5% 94.5% 97.0% Operating and maintenance expense$579 $563 $(16) $569 $(10)Net income (loss) attributable to controlling interest$7 $(494) $501 $(104) $111 Basic earnings (loss) per share$0.01 $(0.56) $0.57 $(0.13) $0.14 Diluted loss per share$(0.11) $(0.58) $0.47 $(0.13) $0.02 Adjusted EBITDA$323 $3
STEINHAUSEN, Switzerland, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the fourth quarter and full year 2024 on Monday, February 17, 2025. The company will conduct a teleconference to discuss the results starting at 9 a.m. EST, 3 p.m. CET, on Tuesday, February 18, 2025. Individuals who wish to participate should dial +1 785-424-1116 approximately 15 minutes prior to the scheduled start time and refer to conference code 540196. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EST, 6 p.m
Three months ended Three months ended September 30, June 30, sequential September 30, year-over-year 2024 2024 change 2023 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$948 $861 $87 $713 $235 Adjusted contract drilling revenues$948 $861 $87 $721 $227 Revenue efficiency (1) 94.5 % 96.9 % 95.4 % Operating and maintenance expense$563 $534 $29 $524 $39 Net loss attributable to controlling interest$(494) $(123) $(371) $(220) $(274)Diluted loss per share$(0.58) $(0.15) $(0.43) $(0.28) $(0.30) Adjusted EBITDA$342 $284 $58 $162 $180 Adjusted EBI
STEINHAUSEN, Switzerland, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the third quarter 2024 on Wednesday, October 30, 2024. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 2 p.m. CET, on Thursday, October 31, 2024. Individuals who wish to participate should dial +1 785-424-1226 approximately 15 minutes prior to the scheduled start time and refer to conference code 827284. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EDT, 5 p.m. CET, on Oct
Three months ended Three months ended June 30, March 31, sequential June 30, year-over-year 2024 2024 change 2023 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$861 $763 $98 $729 $132 Adjusted contract drilling revenues$861 $767 $94 $748 $113 Revenue efficiency (1)96.9% 92.9% 4.0% 97.2% (0.3)%Operating and maintenance expense$534 $523 $11 $484 $50 Net income (loss) attributable to controlling interest$(123) $98 $(221) $(165) $42 Diluted earnings (loss) per share$(0.15) $0.11 $(0.26) $(0.22) $0.07 Adjusted EBITDA$284 $199 $85 $237 $47 Adjusted EBITDA margin33.0% 26.0% 7.0%
STEINHAUSEN, Switzerland, July 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the second quarter 2024 on Wednesday, July 31, 2024. The company will conduct a teleconference to discuss the results starting at 11 a.m. EDT, 5 p.m. CEST, on Thursday, August 1, 2024. Individuals who wish to participate should dial +1 785-424-1222 approximately 15 minutes prior to the scheduled start time and refer to conference code 119567. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 2 p.m. EDT, 8 p.m. CEST, on Augus
Three months ended March 31, December 31, Sequential 2024 2023 change(In millions, except per share amounts and backlog) Contract drilling revenues$763 $741 $22 Adjusted contract drilling revenues$767 $748 $19 Revenue efficiency(1) 92.9 % 97.0 % (4.1)% Operating and maintenance expense$523 $569 $(46) Net income (loss) attributable to controlling interest$98 $(104) $202 Diluted earnings (loss) per share$0.11 $(0.13) $0.24 Adjusted EBITDA$199 $122 $77 Adjusted EBITDA margin 26.0 % 16.3 % 9.7 % Adjusted net loss$(22) $(74) $52 Adjusted diluted loss per share$(0.03) $(0.09) $0.06 Bac
STEINHAUSEN, Switzerland, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today announced its plan for key leadership changes pursuant to the company's multi-year succession planning strategy. As part of this plan, Keelan Adamson, the company's President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the company's 2025 annual general meeting of shareholders. Mr. Thigpen
OKLAHOMA CITY, Oct. 1, 2024 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE:SD) today announced changes to the Board and Management that will further position the Company to execute on its strategy. Vincent ("Vince") Intrieri has been appointed by the Board, by recommendation of the Nominating and Governance Committee, as Chairman effective October 1, 2024. Mr. Intrieri is the Founder and CEO of VDA Capital Management LLC, a private investment fund founded in 2017. Mr. Intrieri was previously employed by Carl C. Icahn-related entities in various inv
HOUSTON, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE:ORN) (the "Company"), a leading specialty construction company, announced today the appointment of Edward Chipman ("Chip") Earle as Executive Vice President, General Counsel, Chief Administrative Officer, Chief Compliance Officer and Corporate Secretary, effective November 27th. Mr. Earle will succeed Executive Vice President Peter R. Buchler, who is retiring from Orion after 15 years of service. Mr. Earle joins Orion from Newpark Resources, Inc. (NYSE:NR), a service provider to the industrial and energy sectors, where he was Vice President - General Counsel, Chief Administrative Officer, Chief Compliance Offi
DUBAI, UAE, May 8, 2023 /PRNewswire/ -- Borets International Limited, a global leader in artificial lift engineering, manufacturing, sales, and servicing of electric submersible pumps (ESP), announced the growing and evolving Company has undergone restructuring to reach this exciting juncture where the international business is a distinct and separate division. Accordingly, the rebranding of the company to Levare International Limited (Levare or Company) better aligns with the forward-thinking mindset of new leadership. This change reflects our growing portfolio of artificial lift solutions offered to our global clients within the oil & gas, mining, geothermal and municipal industries.
Kathleen McAllister is a seasoned CEO, CFO and Board Director who has held diverse leadership roles in global, capital-intensive companies in the energy value chain, including at Black Hills Corp. (NYSE:BKH), Höegh LNG Partners LP (NYSE:HMLP) and Transocean Partners LLC (NYSE:RIGP)McAllister's appointment – together with earlier appointments of Sheila Khama, Amelia Kinahoi Siamomua and Gina Stryker – brings 50-50 gender parity to TMC's boardroom. With just three percent of S&P 500 companies' boards comprised of 50 percent or more women today, TMC is joining a small but rapidly growing number of companies delivering on gender parity goals NEW YORK, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The Met
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