Transocean cuts capital spending on timing of rig payments

Thu May 9, 2013 11:16am EDT

May 9 (Reuters) - Transocean Ltd, owner of the world's largest offshore drilling fleet, said on Thursday its capital expenditures this year would be $2.4 billion instead of $3 billion due to the timing of payments on rigs under construction.

Transocean now has six ultra-deepwater rigs and two shallow-water jackups being built in shipyards, while at the same time the company is shrinking its existing fleet to sharpen its focus on high-end assets.

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