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 (NYSE:RIG) has secured additional contract backlog worth $243 million through option exercises for two ultra-deepwater drillships. BP has extended the Deepwater Atlas contract in the U.S. Gulf of Mexico for 365 days, contributing $232 million to the backlog. Additionally, Petrobras exercised a 30-day option for the Deepwater Mykonos in Brazil, adding $11 million to the backlog.
Transocean (NYSE: RIG) has announced the pricing of a $500 million Senior Priority Guaranteed Notes offering due 2032, with an interest rate of 7.875% per annum. The notes will be guaranteed by Transocean Ltd. and certain subsidiaries.
The offering, expected to close around October 15, 2025, will use proceeds to refinance existing debt, including the remaining 8.00% Senior Notes due 2027 and 6.875% Senior Secured Notes due 2027. Additionally, $50 million will fund a tender offer for outstanding 7.35% Senior Notes due 2041 and 7.00% Notes due 2028.
Transocean Ltd. (NYSE: RIG) has announced that its wholly owned subsidiary, Transocean International Limited, is launching a cash tender offer to purchase up to $50 million of its outstanding notes. The tender offer targets two series of notes: 7.35% Senior Notes due December 2041 and 7.00% Notes due June 2028.
The tender offer features an early tender premium of $50.00 per $1,000 principal amount for notes tendered by October 14, 2025. The total consideration ranges from $950.00 to $980.00 per $1,000 principal amount, including the early tender premium. The offer expires on October 29, 2025, and is contingent upon the completion of a new senior debt securities offering.
Transocean (NYSE: RIG) has announced a private offering of $500 million Senior Priority Guaranteed Notes due 2032. The notes will be guaranteed by Transocean Ltd. and certain subsidiaries. The company plans to use the proceeds to:
1. Refinance the remaining principal of 8.00% Senior Notes due February 2027 after the $415 million redemption announced on September 26, 2025
2. Repay the 6.875% Senior Secured Notes due 2027
3. Fund a $50 million Tender Offer for outstanding 7.35% Senior Notes due 2041 (currently at 9.35%) and 7.00% Notes due 2028
Transocean (NYSE: RIG) has announced the pricing of its upsized public offering of 125 million shares at $3.05 per share, increased from the originally proposed 100 million shares. The offering is expected to generate gross proceeds of approximately $381.25 million.
The company has granted underwriters a 30-day option to purchase up to an additional 18.75 million shares. The offering, led by joint book-running managers Citigroup and Morgan Stanley, is expected to close on September 26, 2025. Transocean plans to use the proceeds primarily for debt repayment, including a portion of the $655 million 8.00% Senior Notes due February 2027.
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.
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