Offshore Drillers Eye Recovery by 2020
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some…
Transocean to Buy Ocean Rig in $2.7 Bln Deal
Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery…
Transocean to Buy Ocean Rig in $2.7 bln Deal
Drilling rig contractor Transocean Ltd said on Tuesday it would acquire peer Ocean Rig UDW Inc in a cash-and-stock deal valued at about $2.7 billion, including debt.The deal will help Switzerland-based Transocean enhance its fleet of ultra-deepw
Transocean Acquires Songa Offshore
Transocean Ltd. announced today that it completed the previously announced compulsory acquisition of the remaining outstanding shares of Songa Offshore SE. All remaining shares in Songa Offshore were…
Transocean Upbeat About Offshore Recovery, Despite Quarterly Loss
Drilling contractor Transocean Ltd on Wednesday expressed optimism about a recovery in offshore drilling activity this year, despite reporting its third quarterly loss in a row. Companies that provide…
BSEE, USCG Investigating GoM Rig Fatality
The Bureau of Safety and Environmental Enforcement (BSEE) and U.S. Coast Guard (USCG) are investigating the fatality of a worker on board the Petrobras 10,000 drillship in the Gulf of Mexico. Petrobras America Inc.
Keppel Closes Deal with Borr Drilling
Keppel FELS Limited, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (KOM), had entered into a Heads of Agreement with Borr Drilling Limited of Bermuda. Keppel FELS has now signed the relevant…
Transocean's Stock Could Surge with $60 Oil -Barron's
Shares of Transocean Ltd could rise more than 35 percent in the next year or two if oil prices top $60 a barrel, Barron's said in an article on Sunday. The Switzerland-based deepwater drilling company…
Higher profits for Transocean
Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results. * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters.
Reliance Terminates Drillship Contract with Transocean
Reliance Industries Ltd. has exercised its contractual option to terminate its contract with Transocean Ltd. for the ultra-deepwater drillship Discoverer India, effective December 2016, prior to its expiration in January 2021.
Transocean Floater Transocean Barents Enters Contract
Transocean Ltd. (NYSE: RIG) announced today that the Transocean Barents, a harsh-environment, ultra-deepwater floater, has been awarded a 15-month contract with Suncor Energy at a dayrate of $260,000.
Transocean to Present at Barclays Energy-Power Conference
Transocean Ltd. announced today that Jeremy Thigpen, President and Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on Wednesday, September 7, 2016 at 11:05 a.m. EDT.
Transocean Posts Quarterly Profit on Cost Cutting
Offshore rig contractor Transocean Ltd posted a quarterly profit, compared with a year-earlier loss, as cost cutting helped counter a slump in crude oil prices. The company's net income attributable to controlling interest was $249 million…
Transocean's Fleet Status Updated
Transocean Ltd. issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs. Actinia - Awarded a three year contract offshore India at a dayrate of $101…
Transocean Delays Drillship Delivery
Transocean Ltd. (NYSE: RIG) announced today an agreement with Sembcorp Marine's subsidiary, Jurong Shipyard Ptd Ltd, to defer the delivery and related final payments of two dynamically positioned ultra-deepwater drillships.
Transocean Defeats Shareholder Appeal over Gulf Spill
Transocean Ltd on Thursday won the dismissal of an appeal by shareholders accusing the owner of the doomed Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the 2010 Gulf of Mexico oil spill. The 2nd U.S.
U.S. Court Dismisses Shareholder Lawsuit Against Transocean
Transocean Ltd on Thursday won the dismissal of an appeal by shareholders accusing the owner of the doomed Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the massive 2010 Gulf of Mexico oil spill.
Keppel, Transocean Agree Rig Deliveries Delay
Transocean Ltd announced on Tuesday an agreement with Keppel Offshore & Marine Ltd's shipyard, Keppel FELS, to defer the delivery and related payments of five high-specification jackups until 2020.
Transocean 4Q Revenue Up
Transocean Ltd. Revenues were $1.85 billion, up from $1.61 billion in the third quarter of 2015; Operating and maintenance expenses were $794 million, down from $880 million in the prior period; Adjusted net income was $615 million…
Transocean's Discoverer Deep Seas Contract Terminated
Transocean Ltd. (NYSE: RIG) announced today that Murphy Exploration & Production Company - USA, a subsidiary of Murphy Oil Corporation, has elected to terminate the contract for the ultra-deepwater drillship Discoverer Deep Seas.