Transocean Ltd. (RIG) filed a Form 8K - Material Impairments -
with the U.S Securities and Exchange Commission on April 01,
2015.
Transocean Ltd. (the "Company") announced that it intends to
dispose of, in an environmentally responsible way, the following
two rigs: GSF Aleutian Key and Sedco 707. These rigs are classified
as held for sale. As a result of the Company's decision to dispose
of these two rigs, the Company has concluded that it expects its
first quarter 2015 results to include an estimated non-cash charge
ranging from $90 million to $110 million, net of taxes. The Company
continues to evaluate the long-term competitiveness of its fleet
and continues to note that additional rigs may be identified as
candidates for disposal.
Statements regarding estimated non-cash charges, competitiveness
of its fleet and additional rigs as candidates for disposal, as
well as any other statements that are not historical facts, are
forward-looking statements that involve certain risks,
uncertainties and assumptions and and are dependent upon other
factors detailed in the Company's most recent Form 10-K and other
filings with the Securities and Exchange Commission (SEC), which
are available free of charge on the SEC's website at www.sec.gov.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those indicated.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150515000047/newman_8-kxcover.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150515000047/0001451505-15-000047-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
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