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Transocean Ltd. - $RIG STOCK NEWS

Welcome to our dedicated page for Transocean Ltd. news (Ticker: $RIG), a resource for investors and traders seeking the latest updates and insights on Transocean Ltd. stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Transocean Ltd.'s stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Transocean Ltd.'s position in the market.

Rhea-AI Summary

Transocean announced a Consent Solicitation for its 8.375% Senior Secured Notes due 2028 to amend the indenture governing the Notes. The purpose is to defer the first measurement date of the Collateral Rig Leverage Ratio under the Indenture. The Consent Payment offered is $2.50 per $1,000 principal amount of Notes for valid consents. Holders can't revoke Consents after the Consent Time. The Company may terminate, extend, or amend the Consent Solicitation at any time. D.F. King & Co., Inc. and Morgan Stanley & Co. are involved in the solicitation process.

Rhea-AI Impact
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End-of-Day
0.96%
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Rhea-AI Summary

Transocean (NYSE: RIG) reported a net income of $98 million for the first quarter of 2024, with adjusted contract drilling revenues increasing by $19 million to $767 million. The company secured a 365-day extension on the Deepwater Asgard, completed a $1.8 billion debt refinancing transaction, and extended its revolving credit facility. Despite some positive milestones, Transocean experienced a sequential decrease in cash used in operating activities and a non-GAAP adjusted net loss of $22 million.

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Rhea-AI Sentiment
End-of-Day
-10.31%
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Rhea-AI Summary
Transocean announced the results of its tender offers to purchase outstanding 11.50% Senior Guaranteed Notes due 2027 and 7.25% Senior Notes due 2025. $844,367,000 in combined aggregate principal amount of Notes had been validly tendered. The Company intends to accept all the Notes validly tendered and not withdrawn, subject to conditions. Payment will be made on April 18, 2024, for Notes tendered by the Expiration Date and on April 22, 2024, for Notes tendered under guaranteed delivery procedures.
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-2.29%
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Transocean issued a quarterly Fleet Status Report, highlighting contract updates for offshore drilling rigs. Key updates include contract extensions and new awards in the U.S. Gulf of Mexico and Angola, contributing to an incremental backlog of $248 million. The total backlog as of April 17, 2024, stands at approximately $8.9 billion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.29%
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Rhea-AI Summary
Transocean announced the pricing terms of a cash tender offer for its outstanding 11.50% Senior Guaranteed Notes due 2027. The offer includes the 2027 Notes and the 7.25% Senior Notes due 2025, with an expiration date of April 17, 2024. The Total Consideration for the 2027 Notes is $1,044.94 per $1,000 principal amount, excluding Accrued Interest. Holders will also receive accrued and unpaid interest on the Notes. The Offers are subject to certain conditions and may be amended, extended, or withdrawn at the Company's discretion. Citigroup Global Markets Inc. is the Dealer Manager for the Offers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.89%
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Rhea-AI Summary
Transocean (NYSE: RIG) announced a successful private offering of $1.8 billion in Senior Notes due 2029 and 2031. The Notes are guaranteed by Transocean and subsidiaries, with interest rates of 8.250% and 8.500% per annum, respectively.
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-0.64%
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Transocean (RIG) announces a private offering of $1.5 billion Senior Notes due 2029 and 2031, with guaranteed senior unsecured basis by the company and its subsidiaries. The proceeds will fund Tender Offers for outstanding notes and other redemptions.
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Rhea-AI Sentiment
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-3.27%
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Rhea-AI Summary
Transocean (NYSE: RIG) has initiated a cash offer to purchase its outstanding 11.50% Senior Guaranteed Notes due 2027 and 7.25% Senior Notes due 2025 from holders. The offer expires on April 17, 2024, with specific conditions and total consideration details provided. Citigroup Global Markets Inc. is the Dealer Manager for the Offers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.27%
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Transocean (NYSE: RIG) will report earnings for Q1 2024 on April 29, 2024, followed by a teleconference on April 30, 2024, to discuss the results. Participants can join by dialing +1 785-424-1222 with conference code 102568. A replay will be available on the company's website and by phone.
Rhea-AI Impact
Rhea-AI Sentiment
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-3.27%
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Rhea-AI Summary
Transocean (NYSE: RIG) extends the contract for the Deepwater Asgard in the U.S. Gulf of Mexico with a total value of $195 million, including extra services and a lump sum payment of $10.9 million.
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Rhea-AI Sentiment
End-of-Day
3.45%
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Transocean Ltd.

NYSE:RIG

RIG Rankings

RIG Stock Data

4.73B
630.40M
11.65%
68.25%
16.13%
Drilling Oil and Gas Wells
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
STEINHAUSEN

About RIG

transocean is a leading international provider of offshore contract drilling services for oil and gas wells. the company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world. building on more than 50 years of experience , our employees are focused on safety and premier offshore drilling performance.