Transocean’s Top-Earning Rigs Are Vulnerable as Moody’s Cuts Rating to Junk

Fisheye view of the rig flo (c) Robert Almeida Photography

*+-Considering the 4.5 years of legal battles Transocean (NYSE:RIG) has faced since the Deepwater Horizon tragedy, the involvement of activist investor Carl Icahn, and the now utterly abysmal offshore drilling market, the news in mid-February of then CEO Steven Newman’s abrupt departure wasn’t that big of a surprise.  It did leave those of us standing on the […]

Steven Newman Steps Down as Transocean CEO

steven newman transocean

*+-In March 2010, long-time Transocean CEO Robert Long turned over the reins to then COO Steven Newman.  For Newman, this was an exciting opportunity to lead his company forward as the top dog in the offshore drilling business, while at the same time work out any kinks left over from the merger of Transocean with […]