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Transocean 3rd-qtr net profit more than triples

Wed Oct 31, 2007 8:16am EDT

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HOUSTON, Oct 31 (Reuters) - Offshore oil and gas drilling contractor Transocean Inc (RIG.N) on Wednesday said its third-quarter net profit more than tripled, lifted by record daily rental rates for its rigs and a big gain from a tax-sharing agreement.

Net profit in the quarter for the Houston-based company rose to $973 million, or $3.24 per diluted share, compared with $309 million, or 96 cents per diluted share in the same quarter a year earlier.

Revenue climbed to $1.538 billion from $1.025 billion a year earlier. (Reporting by Anna Driver, editing by Gerald E. McCormick)



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