With COVID19 wreaking havoc in the stock market, you might think that travel or tourism stock might be the biggest losers of the past decade. But, according to a new report by Kiplinger, we are technically still in an eleven-year bull run. Many companies are still making money but the biggest losers, like Transocean, have lost big. With a current market value of about $1.5 … [Read more...]
Transocean’s First Fleet Status Report of 2020 Reflects Offshore Drilling Uptick
Offshore drilling contractor Transocean has announced nearly $353 million in new rig contracts and exercised options as the offshore drilling market continues to improve. Transocean said is it currently seeing an increase in contract opportunities for its ultra-deepwater and harsh environment drilling rigs. Since its last Fleet Status Report in October 2019, Transocean said … [Read more...]
Transocean Semi-Submersible is First to Use Battery Power for Drilling Operations
Deepwater drilling contractor Transocean says it has deployed that world’s first hybrid battery system on floating drilling rig to supplement power needs during drilling operations. They hybrid energy storage system was deployed on its Transocean Spitsbergen semi-submersible at the Snorre Field in Norway. Transocean says the patented technology targets a 14 percent … [Read more...]
Transocean Relinquishes Ownership in Drillship Pair Under Construction
Offshore drilling contractor Transocean has decided to walk away from two drillships under construction at South Korea’s Samsung Heavy Industry. In a statement on Tuesday, the Switzerland-based company said it was relinquishing their respective interests in two drillships under construction – the Ocean Rig Santorini and the Ocean Rig Crete to SHI. The decision means that … [Read more...]
Newbuild Rig Transocean Norge Lands Six-Well Contract from Equinor with Options
Norwegian energy giant Equinor announced today it has awarded Transocean a six-well contract on the Norwegian continental shelf (NCS) for the newbuild harsh environment drilling rig Transocean Norge. Drilling start-up is scheduled for the summer of 2019 upon delivery of the rig. The contract also includes options for drilling four additional wells and "is intended … [Read more...]