Transocean Stock Price, News & Analysis

Transocean (NYSE: RIG) has announced a significant public offering of 100 million shares with an additional 30-day option for underwriters to purchase up to 15 million additional shares. The offering, jointly managed by Citigroup and Morgan Stanley, aims to use the proceeds primarily for debt management, specifically targeting the repayment or redemption of a portion of the $655 million 8.00% Senior Notes due February 2027.

The offering is being conducted under a shelf registration statement that became effective on July 1, 2024. Any remaining proceeds will be allocated to general corporate purposes. The completion of the offering remains subject to market conditions and SEC review.

Transocean (NYSE:RIG) reported its Q2 2025 financial results with mixed performance. Contract drilling revenues increased to $988 million, up $82 million sequentially and $127 million year-over-year. The company posted a net loss of $938 million ($1.06 per share), primarily due to a $1.128 billion asset impairment charge.

Key operational metrics showed improvement with revenue efficiency of 96.6% and adjusted EBITDA of $344 million, representing a 34.9% margin. Operating and maintenance expenses decreased to $599 million from $618 million in the previous quarter. The company generated $128 million in operating cash flow and maintains a substantial backlog of $7.2 billion.

Management highlighted their progress in debt reduction, targeting over $700 million in debt reduction for the year to strengthen the balance sheet.

Transocean (NYSE: RIG) has released its quarterly Fleet Status Report, highlighting several contract updates for its offshore drilling fleet. The company secured multiple contract extensions and new agreements, including a $540,000 per day rate for Transocean Equinox in Australia, a $395,000 per day rate for Transocean Spitsbergen in Norway, and a $361,000 per day rate for Deepwater Skyros in Ivory Coast.

These new contracts and extensions have added approximately $199 million to the company's backlog, bringing the total backlog to $7.2 billion as of July 16, 2025.

Transocean (NYSE: RIG) has scheduled its second quarter 2025 earnings release for Monday, August 4, 2025. The company will host a teleconference on Tuesday, August 5, 2025, at 9 a.m. EDT (3 p.m. CEST).

Participants can join the call by dialing +1 785-424-1116 with conference code 125397. A listen-only webcast will be available on the company's website. The replay will be accessible after 12 p.m. EDT via phone at +1 402-220-2972 (passcode: 125397) and on Transocean's website for approximately 30 days.

Transocean Ltd. (NYSE: RIG) announced that a two-well option has been exercised for their Transocean Spitsbergen rig in Norway. The program is set to begin in Q1 2026, following the rig's current operations. This contract extension will add approximately $100 million to the company's backlog, not including additional services. The extension demonstrates continued demand for Transocean's harsh environment drilling capabilities and strengthens their contract backlog in the Norwegian market.

Transocean reported its Q1 2025 financial results, showing mixed performance. Contract drilling revenues reached $906 million, marking a $143 million year-over-year increase but a sequential decrease of $46 million from Q4 2024.

Key financial highlights:

• Net loss of $79 million ($0.11 per diluted share)
• Revenue efficiency improved to 95.5%
• Operating expenses increased to $618 million
• Adjusted EBITDA of $244 million with 26.9% margin
• Strong backlog of $7.9 billion

The quarter saw lower revenues due to rig contract preparation and mobilization activities. Despite uncertain market conditions and commodity price volatility, CEO Jeremy Thigpen noted the company's solid performance and highlighted debt reduction of $210 million. The company maintains a highly contracted fleet and continues discussions with customers for future opportunities.

Transocean (NYSE: RIG) has announced a time change for its first quarter 2025 earnings conference call. The teleconference will now take place at 10 a.m. EDT (4 p.m. CEST) on Tuesday, April 29, 2025, due to a scheduling conflict.

The company will release its Q1 2025 earnings report on Monday, April 28. Participants can join the call by dialing +1 785-424-1619 approximately 15 minutes before the start time, using conference code 119877. A listen-only simulcast will be available on www.deepwater.com in the Investors section.

A replay of the conference call will be accessible after 1 p.m. EDT on April 29, available for approximately 30 days via phone (+1 402-220-7202, passcode 119877) and the company's website.

Transocean (NYSE: RIG) has released its quarterly Fleet Status Report on April 16, 2025, providing updates on the company's offshore drilling rig fleet status and contract information. The report reveals that Transocean's total contract backlog stands at $7.9 billion. The complete fleet status report is accessible through the company's website at www.deepwater.com.

Transocean (NYSE: RIG) has scheduled its first quarter 2025 earnings release for Monday, April 28, 2025. The company will host a teleconference to discuss the results on Tuesday, April 29, 2025, at 9 a.m. EDT (3 p.m. CEST).

Participants can join the call by dialing +1 785-424-1619 approximately 15 minutes before the start time, using conference code 119877. A listen-only simulcast will be available on www.deepwater.com in the Investors section. A replay will be accessible after 12 p.m. EDT on April 29, 2025, via phone at +1 402-220-7202 (passcode 119877) and on the company's website for approximately 30 days.