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Transocean Ltd (RIG.N)

RIG.N on New York Stock Exchange

25 Jul 2017
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$0.26 (+3.06%)
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Latest Key Developments (Source: Significant Developments)

Statoil to kick off 2-3 months UK drilling campaign
Monday, 3 Jul 2017 02:09am EDT 

July 3 (Reuters) - Statoil Asa :Kick-off for Statoil's UK exploration campaign.Will soon commence a three-well exploration drilling campaign on UK continental shelf, using the Transocean Spitsbergen semi-submersible rig.We hope to make discoveries that can add value to existing projects and also provide resources necessary for new developments on ukcs.Wells will be drilled in a continuous campaign that is expected to last approximately 2-3 months.First well, mariner segment 9, could prove additional resources and increase extent of mariner field.Second well is at Jock Scott, a prospect on the underexplored margins of the Viking Graben.The last well of the campaign will be the Verbier opportunity in the Moray Firth area.We have three exciting wells to test with a proven and efficient rig that will enable us to continue to develop our understanding of the full exploration potential of this mature basin and hopefully add new commercial reserves to our UK portfolio.  Full Article

Transocean Ltd. announces cash tender offers
Tuesday, 13 Jun 2017 08:23am EDT 

June 13 (Reuters) - Transocean Ltd ::Transocean Ltd. Announces cash tender offers.Commenced cash tender offers to purchase up to U.S. $1.5 billion aggregate principal amount of a series of notes.Transocean ltd - tender offers will expire at 11:59 p.m., New York City time, on July 11, 2017, unless extended or earlier terminated by Transocean.  Full Article

Transocean says expects to recognize estimated loss of about $1.6 bln during Q2
Tuesday, 30 May 2017 06:19pm EDT 

May 30 (Reuters) - Transocean Ltd :transocean-‍on may 23, subsidiaries of co entered asset and share purchase agreement with borr drilling limited and certain of its affiliates - sec filing​.Transocean-To sell 10 high-specification jackups, novate contracts relating to construction of 5 high-specification jackups, related assets, to borr​.Transocean ltd - ‍during q2 2017, company expects to recognize an estimated loss of approximately $1.6 billion associated with impairment of certain assets​.Transocean - ‍as co continues to evaluate long-term competitiveness of its fleet, additional rigs may be identified as candidates for sale or disposal​.  Full Article

Transocean says qtrly revenues were $785 million vs $974 million in Q4 of 2016
Wednesday, 3 May 2017 04:16pm EDT 

May 3 (Reuters) - Transocean Ltd :Reg-Transocean ltd. Reports first quarter 2017 results.Qtrly revenues were $785 million compared with $974 million in q4 of 2016.Qtrly net income attributable to controlling interest was $91 million, $0.23 per diluted share.Contract backlog was $10.8 billion as of april 2017 fleet status report.  Full Article

Transocean announces contracts for Transocean Spitsbergen
Wednesday, 5 Apr 2017 04:16pm EDT 

Transocean Ltd : Transocean Ltd. announces contracts for Transocean Spitsbergen . estimated firm backlog associated with these contracts is $83 million .Initial contract is expected to commence in Q3 of 2017.  Full Article

Statoil awards Transocean two rig contracts at around $113 mln offshore UK and Norway
Tuesday, 4 Apr 2017 06:57am EDT 

Statoil Asa : Statoil: Statoil awards Transocean two rig contracts - statoil.com . Statoil and license partners have decided to use semisubmersible rig Transocean Spitsbergen on three exploration wells in UK, and then on a six-well production drilling campaign on Aasta Hansteen licence in Norway . Exploration drilling campaign in UK will be conducted for mariner, jock Scott and Verbier licenses, and is planned to start in summer . Contract value for three fixed wells is estimated at around 18 million usd, which includes integrated drilling services such as fuel, casing running, rov, slop treatment and cuttings handling .Drilling campaign on Aasta Hansteen is planned to start towards end of 2017 or beginning of 2018. Contract value for six fixed wells is estimated at around 95 million usd.  Full Article

Keppel Corp says unit signed agreement with Borr Drilling for Transocean rigs
Monday, 20 Mar 2017 09:44am EDT 

Keppel Corporation Limited : Keppel signs heads of agreement with borr drilling for transocean rigs . Under new agreement, Borr Drilling will take over contracts and undertake remaining payment installments to Keppel Fels . Price for each rig is usd$216 million, compared to original price of usd$219 million . Under agreement construction contracts for five jackup rigs currently being built by Keppel Fels for Transocean will be novated to Borr Drilling . Completion of transaction is expected to take place before end of may 2017 . Transaction will not have any material impact on net tangible assets & earnings per share of Keppel Corp for FY17 . "Borr Drilling will also make a down payment of usd$275 million" .Keppel Offshore & Marine Ltd has entered into a heads of agreement with Borr Drilling Ltd of Bermuda.  Full Article

Borr Drilling to buy 15 rigs from Transocean in $1.35 bln deal
Monday, 20 Mar 2017 03:51am EDT 

Transocean Ltd : Borr Drilling says intends to acquire 15 high-specification jack-up rigs from Transocean for $1.35 billion .Borr Drilling announces $800 million equity offering.  Full Article

Transocean CEO Jeremy Thigpen's FY 2016 compensation $9.1 mln vs $10.9 mln in fy 2015
Thursday, 16 Mar 2017 05:30pm EDT 

Transocean Ltd : Transocean ltd - ceo jeremy thigpen's fy 2016 total compensation $9.1 million versus $10.9 million in fy 2015 - sec filing .Transocean ltd says cfo mark mey total 2016 compensation was $4.7 million versus $7.1 million in 2015 - sec filing.  Full Article

Noble Corp says Transocean filed patent infringement suit against co in Jan
Friday, 24 Feb 2017 12:37pm EST 

Noble Corp Plc : Noble Corp Plc - In Jan 2017, a subsidiary of Transocean Ltd filed suit against co and certain of its units for patent infringement in a Texas federal court . Noble Corp Plc - Suit claims that five of Noble's newbuild rigs that operated in U.S. Gulf of Mexico violated Transocean patents relating to dual-activity drilling .Noble Corp Plc says it was aware of the patents when co constructed the rigs, and does not believe the rigs infringe Transocean patents, which are now expired.  Full Article

BRIEF-Transocean Ltd as of July 25, co's contract backlog $10.2 bln

* Transocean Ltd - as of July 25, 2017, Company's contract backlog is $10.2 billion Source text for Eikon: Further company coverage: