Tuesday, June 15, 2021

Offshore Driller Transocean to Sell Shares Amid Meme Stock Frenzy

By Allison McNeely (Bloomberg) — Transocean Ltd. is planning to raise cash and cut debt by selling new shares, taking advantage of a surge in its stock price driven by the...

June 15, 2021
Total Views: 5412

Monday, June 7, 2021

Transocean Reaches Deal for Delayed Delivery of New Ultra-Deepwater Drillships

Offshore drilling contractor Transocean announced today it has reached an agreement with Sembcorp Marine’s Jurong Shipyard on the delayed delivery of the two ultra-deepwater drillships under construction. Jurong Shipyard, located...

June 7, 2021
Total Views: 3253

Tuesday, April 13, 2021
hurricane zeta october 28

Lawsuit Sheds Light on Serious Drillship Incident in Gulf of Mexico During 2020’s Hurricane Zeta

A former senior engineer on board a Transocean drillship in the U.S. Gulf of Mexico has filed a civil lawsuit alleging the offshore drilling contractor and its business partners put...

April 13, 2021
Total Views: 15501

Thursday, January 28, 2021
Ship Stonks

Shipping Stonks Like RIG Get Lifted In Rising Tide Of Troubled Companies Like Gamestop

by Captain John Konrad (gCaptain) In May 2020 I wrote an article sharing the fact that Transocean ($RIG) was the biggest loser stock of the last decade. At the time...

January 28, 2021
Total Views: 5402

Monday, January 25, 2021
offshore rig

BP Drastically Cuts Oil Exploration

BP ($BP) cuts in oil exploration could hurt struggling offshore exploration companies like Transocean ($RIG). UK oil major BP has drastically scaled back the team that looks for more oil...

January 25, 2021
Total Views: 2621

Tuesday, October 6, 2020
offshore drillship
Maritime News

Transocean’s Plan to Avoid Bankruptcy May Cause One Just the Same

By Allison McNeely (Bloomberg) — Measures taken by Transocean Ltd. to stave off a bankruptcy filing could be exactly what ends up sending the offshore drilling company into Chapter 11...

October 6, 2020
Total Views: 78

Thursday, August 20, 2020

Offshore Drilling Is ‘Structurally Damaged’ And Help Is Not Coming

(Bloomberg) – President Donald Trump helped to clinch an unprecedented deal among the world’s largest crude producers, but the pact hasn’t stopped America’s oil industry from bleeding. “Offshore drilling is structurally...

August 20, 2020
Total Views: 143

Wednesday, August 19, 2020
Deepwater Champion Transocean seatrial drillship

Offshore Crisis: Recent Failures Have Created A Massive $30 Billion Financial Risk

By David Wethe and Allison McNeely (Bloomberg) Offshore oil servicers are going bust at the fastest pace in three years as explorers spurn high-cost drilling to deal with a worldwide...

August 19, 2020
Total Views: 111

Wednesday, August 5, 2020
Drillship Offshore Brazil
Maritime News

Transocean Hires Financial Advisor to Evaluate ‘Strategic Alternatives’

By David Wethe (Bloomberg) –Transocean Ltd. has tapped Lazard Freres & Co. LLC to be its financial adviser as the world’s biggest owner of deepwater oil rigs confronts history’s worst...

August 5, 2020
Total Views: 51

Friday, May 15, 2020
Deepwater Champion Drillship

Transocean Is The Decade’s Biggest Loser

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...

May 15, 2020
Total Views: 1090

Wednesday, January 8, 2020
offshore oil rig
Maritime News

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...

January 8, 2020
Total Views: 20

Thursday, October 3, 2019
Transocean Spitsbergen

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...

October 3, 2019
Total Views: 61

Tuesday, September 24, 2019
Deepwater Champion Drillship

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...

September 24, 2019
Total Views: 77

Friday, September 21, 2018
Transocean Norge.
Maritime News

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...

September 21, 2018
Total Views: 1

Wednesday, September 5, 2018
Deepwater Champion Drillship

Transocean May Reactivate 3 Rigs A Year As Recovery Takes Hold

by David Wethe (Bloomberg) — Transocean, the world’s biggest offshore oil driller, may reactivate two to three mothballed rigs a year as the industry embarks on a full-fledged recovery for deepwater...

September 5, 2018
Total Views: 8

Tuesday, September 4, 2018
Maritime News

Transocean to Acquire Ocean Rig in $2.9 Billion Deal

By Will Wade and Simon Casey (Bloomberg) — Transocean Ltd., the world’s largest offshore drilling company, agreed to buy a smaller rival in a $2.9 billion deal, with rates for...

September 4, 2018
Total Views: 16

Tuesday, July 17, 2018
Maritime News

Transocean Lands 11-Well Contract for ‘GSF Development Driller I’ in Australia

Offshore drilling contractor Transocean says its ultra-deepwater semi-submersible GSF Development Driller 1 has been awarded an 11-well contract offshore Australia for Chevron. The contract is expected to commence in the...

July 17, 2018
Total Views: 51

Wednesday, February 21, 2018
offshore rig north sea

Offshore Oil Recovery Beginning in World’s Harshest Environments

By David Wethe (Bloomberg) — Explorers are once again testing the waters in their search for oil, according to Transocean Ltd., the world’s biggest offshore rig contractor by market value. Drillers worldwide...

February 21, 2018
Total Views: 0

Friday, February 16, 2018

Transocean to Take $112 Million Hit Over Rig Breakdown

Offshore driller Transocean will take a $112 million hit from a drilling contract amendment for its harsh-environment semi-submersible Transocean Leader. Transocean revealed Thursday that the rig experienced equipment breakdown that...

February 16, 2018
Total Views: 15

Wednesday, October 18, 2017
deepwater pathfinder

Oil’s Biggest Rigs Get Sent to Junkyard as Daily Losses Mount

By David Wethe (Bloomberg) — Transocean Ltd. is finally sending Pathfinder to its grave, after two years in a Caribbean purgatory that cost about $15,000 a day. The move by the world’s...

October 18, 2017
Total Views: 83