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 |
|---|---|---|---|
| 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 |
| 2/16/2023 | $7.00 | Overweight → Equal Weight | Barclays |
| 1/19/2023 | $7.50 | Buy | The Benchmark Company |
| 10/6/2022 | $3.50 → $5.00 | Underweight → Overweight | Barclays |
SCHEDULE 13G - Transocean Ltd. (0001451505) (Subject)
10-Q - Transocean Ltd. (0001451505) (Filer)
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8-K - Transocean Ltd. (0001451505) (Filer)
8-K - Transocean Ltd. (0001451505) (Filer)
8-K - Transocean Ltd. (0001451505) (Filer)
8-K - Transocean Ltd. (0001451505) (Filer)
8-K - Transocean Ltd. (0001451505) (Filer)
8-K - Transocean Ltd. (0001451505) (Filer)
10-Q - Transocean Ltd. (0001451505) (Filer)
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. 24, 2024 (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: Deepwater Atlas – Awarded a 365-day contract in the U.S. Gulf of Mexico at a dayrate of $635,000.Deepwater Conqueror – Awarded a 365-day contract in the U.S. Gulf of Mexico at a dayrate of $530,000.Deepwater Invictus – Awarded a 1095-day contract in the U.S. Gulf of Mexico at a dayrate of $485,000.Deepwater Invictus – Awarded two one-well contract extensions in the U.S. Gulf of Mexico.Dhirubha
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
STEINHAUSEN, Switzerland, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced a one-year contract for the Deepwater Conqueror with an undisclosed operator in the U.S. Gulf of Mexico. The contract is expected to commence in October 2025 and contribute approximately $193 million in backlog, including 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 services and operates the highest spe
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
STEINHAUSEN, Switzerland, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced a 365-day contract for the Deepwater Atlas with bp in the U.S. Gulf of Mexico. The contract also provides for a 365-day option. The program is expected to commence in the second quarter of 2028 and contribute approximately $232 million in backlog, excluding a mobilization fee. There are no additional services provided under the contract. 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 partic
STEINHAUSEN, Switzerland, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced that Reliance Industries Limited awarded a binding Letter of Award for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026 and is estimated to contribute approximately $123 million in backlog, excluding additional services and a mobilization fee. The award also includes multiple options. If all options are exercised, the rig would remain in India through the end of 2029. About Transocean Transocean is a leading international provider of offshore contract drilling services for oil an
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 31, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced a 1,095-day contract for the Deepwater Invictus with bp in the U.S. Gulf of Mexico. The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $531 million in backlog, excluding additional services and a mobilization fee. 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 service
STEINHAUSEN, Switzerland, July 24, 2024 (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: Deepwater Atlas – Awarded a four-well contract in the U.S. Gulf of Mexico at a dayrate of $505,000, with contingencies to perform three completions at the same dayrate.Deepwater Atlas – Awarded a two-well contract for drilling operations in the U.S. Gulf of Mexico at a dayrate of $580,000 with contingencies to perform two 20K completions at a dayrate of $650,000.Deepwater Asgard – Awarded a 36
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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
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, April 10, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the first quarter 2024 on Monday, April 29, 2024. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, April 30, 2024. Individuals who wish to participate should dial +1 785-424-1222 and refer to conference code 102568 approximately 15 minutes prior to the scheduled start time. 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 April 30
Three months ended December 31, September 30, Sequential 2023 2023 change(In millions, except per share amounts and backlog) Contract drilling revenues$741 $713 $28 Adjusted contract drilling revenues$748 $721 $27 Revenue efficiency 97.0 % 95.4 % 1.6 %Operating and maintenance expense$569 $524 $45 Net loss attributable to controlling interest$(104) $(220) $116 Diluted loss per share$(0.13) $(0.28) $0.15 Adjusted EBITDA$122 $162 $(40) Adjusted EBITDA margin 16.3 % 22.5 % (6.2)%Adjusted net loss$(74) $(280) $206 Adjusted diluted loss per share$(0.09) $(0.36) $0.27 Backlog as of the February 2024
STEINHAUSEN, Switzerland, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the fourth quarter and full year 2023 on Monday, February 19, 2024. The company will conduct a teleconference to discuss the results starting at 9 a.m. EST, 3 p.m. CET, on Tuesday, February 20, 2024. Individuals who wish to participate should dial +1 785-424-1226 and refer to conference code 932678 approximately 15 minutes prior to the scheduled start time. 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
Total contract drilling revenues were $713 million, compared to $729 million in the second quarter of 2023 (total adjusted contract drilling revenues of $721 million, compared to $748 million in the second quarter of 2023);Revenue efficiency(1) was 95.4%, compared to 97.2% in the prior quarter;Operating and maintenance expense was $524 million, compared to $484 million in the prior quarter;Net loss attributable to controlling interest was $220 million, $0.28 per diluted share, compared to $165 million, $0.22 per diluted share, in the second quarter of 2023;Adjusted EBITDA was $162 million, compared to $237 million in the prior quarter; andContract backlog was $9.4 billion as of the October 2
STEINHAUSEN, Switzerland, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the third quarter 2023 after the close of trading on the NYSE on Monday, October 30, 2023. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 2 p.m. CEST, on Tuesday, October 31, 2023. Individuals who wish to participate should dial +1 785-424-1226 and refer to conference code 403372 approximately 15 minutes prior to the scheduled start time. 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 a
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The aggregate incremental backlog associated with these fixtures is approximately $656 million. As of July 24, 2024, the company's total backlog is approximately $8.8 billion.
Shares of Transocean LTD (NYSE:RIG) traded lower on Monday following an OPEC+ decision to extend deep oil output cuts until 2025. What To Know: The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, aims to address concerns over tepid demand growth, high interest rates and rising U.S. production. According to Reuters, Brent crude oil prices have remained below budgetary requirements for many OPEC+ members, trading near $80 per barrel. The extension includes maintaining current cuts of 5.86 million barrels per day (bpd), with 3.66 million bpd set to expire at the end of 2024 now extended for an additional year. Voluntary cuts of 2.2 million b
Evercore ISI Group analyst James West maintains Transocean (NYSE:RIG) with a Outperform and lowers the price target from $9 to $7.
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
Barclays downgraded Transocean from Overweight to Equal Weight and set a new price target of $7.00
The Benchmark Company initiated coverage of Transocean with a rating of Buy and set a new price target of $7.50
Barclays upgraded Transocean from Underweight to Overweight and set a new price target of $5.00 from $3.50 previously
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