Welcome to our dedicated page for Transocean news (Ticker: RIG), a resource for investors and traders seeking the latest updates and insights on Transocean stock.
Transocean Ltd. (NYSE: RIG) is an international offshore contract drilling company that focuses on ultra-deepwater and harsh environment projects for oil and gas wells. Its news flow frequently highlights contract awards, option exercises and updates to its fleet of 27 mobile offshore drilling units, which includes 20 ultra-deepwater floaters and seven harsh environment floaters.
Visitors to this RIG news page can review company announcements about new drilling campaigns and extensions for specific rigs such as Deepwater Atlas, Deepwater Mykonos, Deepwater Skyros, Transocean Enabler and Transocean Barents. Recent press releases have detailed multi-well contracts in regions including the U.S. Gulf, Brazil, Norway, Romania and Australia, along with the associated additions to Transocean’s firm contract backlog.
Beyond operational contracts, Transocean’s news also covers financial and capital structure developments. The company has reported private offerings of Senior Priority Guaranteed Notes due 2032, cash tender offers for outstanding senior notes, and underwritten public offerings of its shares, all documented through coordinated press releases and Form 8-K filings.
Investors can also find announcements related to quarterly earnings releases, teleconference schedules and the publication of the Fleet Status Report, which summarizes the status and contract details of the company’s offshore drilling rigs. This mix of operational, financial and fleet information makes the RIG news stream a key source for understanding how Transocean’s contracts, backlog and capital structure evolve over time.
For anyone tracking offshore drilling activity, contract visibility or Transocean’s role in ultra-deepwater and harsh environment markets, this page aggregates the company’s latest publicly released information in one place.
Transocean Ltd. (NYSE: RIG) announced its engagement in the Northern Lights Carbon Capture Storage Project alongside Equinor, wherein the Transocean Enabler will drill a carbon injection well. This initiative supports the EU’s climate goals by creating an open-source carbon dioxide transport and storage network. The project leverages over 23 years of safe carbon storage in Norway. The Transocean Enabler, operating under contract until 2024, is designed for harsh environments, underscoring Transocean's commitment to integrating renewable energy projects into its operations.
Transocean Ltd. (NYSE: RIG) reported a net loss of $130 million, or $0.20 per diluted share, for Q3 2021, reflecting a decline from $103 million, or $0.17 per diluted share, in Q2 2021. Total contract drilling revenues decreased to $626 million, down from $656 million sequentially, while adjusted EBITDA was $245 million compared to $255 million in the prior quarter. Operating and maintenance expenses fell to $398 million from $434 million. The contract backlog stood at $7.1 billion. CEO Jeremy Thigpen noted improved market fundamentals and increasing dayrates, despite the losses.
Transocean Ltd. (NYSE: RIG) announced a quarterly Fleet Status Report on Oct. 25, 2021, detailing recent contract awards for its offshore drilling rigs in the U.S. Gulf of Mexico. Notable contracts include:
- Deepwater Atlas: two-phase, four-well contract
- Deepwater Conqueror: three-well contract
- Deepwater Asgard: one-well contract
- Deepwater Invictus: contract extension for one well
- Development Driller III: one-well option in Trinidad
- Deepwater Nautilus: one-well option
The company's backlog now totals approximately $7.1 billion.
Transocean Ltd. (NYSE: RIG) will report its earnings for Q3 2021 on November 1, 2021, post-market. A teleconference to discuss the results is scheduled for November 2, 2021, at 9 a.m. EDT. Participants can join by calling +1 323-994-2093. Transocean specializes in offshore contract drilling services, focusing on ultra-deepwater and harsh environments, operating a fleet of 37 mobile offshore drilling units. The company also has two ultra-deepwater drillships under construction.
Transocean Ltd. (NYSE: RIG) has announced a commitment to reduce its operating Scope 1 and Scope 2 greenhouse gas emissions intensity by 40% from 2019 levels by 2030. This initiative aligns with the company’s technical leadership and operational improvements, ensuring safety and reliability are not compromised. CEO Jeremy Thigpen emphasized the ongoing demand for hydrocarbons and the responsibility to minimize environmental impact. The company aims to enhance its power management capabilities and support lower-carbon energy projects.
Transocean Ltd. (NYSE: RIG) secured a $252 million contract from BOE Exploration & Production LLC for the Deepwater Atlas drillship, which includes a $30 million mobilization fee and performance bonuses. This contract stems from the Shenandoah project's final investment decision, set for operations in Q3 2022. The drilling program will last approximately 255 days, generating $80 million in revenue, followed by a 20,000 psi BOP installation contributing an additional $17 million. The second phase will add $125 million of revenue over 275 days.
Transocean Ltd. (NYSE: RIG) reported a net loss attributable to controlling interest of $103 million, or $0.17 per diluted share, for Q2 2021, slightly up from a loss of $99 million, or $0.16 per diluted share, in Q1 2021. Contract drilling revenues reached $656 million, a marginal increase from $653 million in the previous quarter. Adjusted EBITDA rose to $255 million, up from $245 million. Contract backlog stands at $7.3 billion. The company focused on improving liquidity by delaying newbuild drillship payments, deferring over $450 million in capex.
Transocean Ltd. (NYSE: RIG) announced the award of two contracts totaling approximately $55.5 million in backlog. The Deepwater Conqueror was contracted for approximately 85 days and $28.5 million for work in the U.S. Gulf of Mexico, while the Deepwater Asgard secured a contract valued at $27 million for 90 days, including $40,000 per day for managed pressure drilling services. Both contracts are set to begin in Q1 2022.
Transocean Ltd. (NYSE: RIG) is set to report its second-quarter 2021 earnings on August 2, 2021, following market close. A teleconference will be held on August 3, 2021, at 9 a.m. EDT to discuss the results. Participants can dial +1 313-209-6544 with code 1865445 for access. Transocean is a leader in offshore contract drilling, owning a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters, and is in the process of constructing two ultra-deepwater drillships.
Transocean Ltd. (NYSE: RIG) released its quarterly Fleet Status Report, providing updates on offshore drilling contracts. Key highlights include:
- Deepwater Invictus secured a one-well option in the U.S. Gulf of Mexico.
- Deepwater Skyros received a 370-day option in Angola.
- Discoverer Inspiration awarded a nine-well contract in the U.S. Gulf.
- Dhirubhai Deepwater KG2 secured a one-well contract in Brunei.
- Total backlog is approximately $7.3 billion.
For more details, visit the company’s website.
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