Mother Lode
2 days ago
STEINHAUSEN, SwitzerlandโJuly 24, 2024โTransocean Ltd. (NYSE: RIG) today issued a quarterly Fleet
Status Report that provides the current status of, and contract information for, the companyโs fleet of offshore drilling rigs.
This quarterโs report includes the following updates:
โข Deepwater Atlas โ Awarded a four-well contract in the U.S. Gulf of Mexico at a dayrate of $505,000,
with contingencies to perform three completions at the same dayrate.
โข Deepwater Atlas โ Awarded a two-well contract for drilling operations in the U.S. Gulf of Mexico
at a dayrate of $580,000 with contingencies to perform two 20K completions at a dayrate of
$650,000.
โข Deepwater Asgard โ Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate
of $515,000.
โข Deepwater Invictus โ Awarded a 40-day contract extension in the U.S. Gulf of Mexico.
โข Transocean Norge โ Awarded a three-well contract extension in Norway at a current dayrate of
$517,000.
โข Transocean Spitsbergen โ Awarded a three-well contract extension in Norway at a current dayrate
of $483,000.
โข Transocean Endurance โ Customer exercised a one-well option in Australia at a dayrate of
$390,000.
โข Deepwater Mykonos โ Customer exercised a 279-day option in Brazil at a current dayrate of
$366,000.
The aggregate incremental backlog associated with these fixtures is approximately $656 million. As of July
24, 2024, the companyโs total backlog is approximately $8.8 billion.
The report can be accessed on the companyโs website: www.deepwater.com.
surfer44
2 days ago
Transocean Ltd. Provides Quarterly Fleet Status Report
July 24 2024 - 5:15PM
Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the companyโs fleet of offshore drilling rigs.
This quarterโs report includes the following updates:
Deepwater Atlas โ Awarded a four-well contract in the U.S. Gulf of Mexico at a dayrate of $505,000, with contingencies to perform three completions at the same dayrate.
Deepwater Atlas โ Awarded a two-well contract for drilling operations in the U.S. Gulf of Mexico at a dayrate of $580,000 with contingencies to perform two 20K completions at a dayrate of $650,000.
Deepwater Asgard โ Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate of $515,000.
Deepwater Invictus โ Awarded a 40-day contract extension in the U.S. Gulf of Mexico.
Transocean Norge โ Awarded a three-well contract extension in Norway at a current dayrate of $517,000.
Transocean Spitsbergen โ Awarded a three-well contract extension in Norway at a current dayrate of $483,000.
Transocean Endurance โ Customer exercised a one-well option in Australia at a dayrate of $390,000.
Deepwater Mykonos โ Customer exercised a 279-day option in Brazil at a current dayrate of $366,000.
The aggregate incremental backlog associated with these fixtures is approximately $656 million. As of July 24, 2024, the companyโs total backlog is approximately $8.8 billion.
The report can be accessed on the companyโs website: www.deepwater.com.
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 36 mobile offshore drilling units, consisting of 28 ultra-deepwater floaters and eight harsh environment floaters.
eastunder
1 week ago
Transocean Ltd. Announces Second Quarter 2024 Earnings Release Date
July 17, 2024 16:33 ET
STEINHAUSEN, Switzerland, July 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the second quarter 2024 on Wednesday, July 31, 2024.
The company will conduct a teleconference to discuss the results starting at 11 a.m. EDT, 5 p.m. CEST, on Thursday, August 1, 2024. Individuals who wish to participate should dial +1 785-424-1222 approximately 15 minutes prior to the scheduled start time and refer to conference code 119567.
The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 2 p.m. EDT, 8 p.m. CEST, on August 1, 2024. The replay, which will be archived for approximately 30 days, can be accessed at +1 402-220-1119, passcode 119567. The replay also will be available on the company's website.
eastunder
1 week ago
3 Under-$10 Oil & Gas Stocks to Buy for 100% Returns in 2025
https://investorplace.com/2024/07/3-under-10-oil-gas-stocks-to-buy-for-100-returns-in-2025/
#3 ...
Transocean (RIG)
Transocean (NYSE:RIG) is another undervalued offshore drilling services provider. However, unlike Borr Drilling, the company is focused on harsh environments and ultradeep-water rigs. RIG stock has corrected sharply by almost 40% in the last 12 months, and I see this as a good buying opportunity.
The first point to note is that Transocean reported an order backlog of $8.9 billion as of April. The backlog is front-end loaded and provides clear revenue and cash flow visibility.
Further, Transocean is focused on deleveraging. In the next few years, credit metrics are likely to improve on a sustained basis. The offshore driller has guided for year-end liquidity of $1.4 billion.
With high financial flexibility, there is a case for fleet expansion to boost growth. The company already has a modern fleet with an average age of 12 years. Overall, Transocean is positioned for steady growth and deleveraging. As oil trends higher, the backlog is likely to swell further. RIG stock, therefore, seems undervalued after a deep correction.
On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.
eastunder
2 weeks ago
The prospectus on that was filed 6/28
https://www.sec.gov/Archives/edgar/data/1451505/000145150524000088/tmb-20240628xs3asr.htm
On June 28, 2024, Transocean Ltd. and certain subsidiaries of Transocean Ltd. entered into a share purchase agreement (the โSPAโ) with certain funds managed and/or advised by Hayfin Capital Management LLP and/or its affiliates (together, โHayfinโ), pursuant to which Transocean Ltd. agreed to cause to be issued (i) 55,513,043 shares, USD 0.10 par value each, of Transocean Ltd. (such shares, referred to as โregistrable securitiesโ) and (ii) $130 million aggregate principal amount of our 8.00% Senior Notes due 2027, as โAdditional Securitiesโ pursuant to our indenture dated January 17, 2020 (such notes, referred to as the โnotesโ), to Hayfin in exchange for the acquisition by Transocean of Hayfinโs 67.0% ownership interest in the joint venture (the โJoint Ventureโ) that owns the Transocean Norge. The transactions contemplated by the aforementioned share purchase agreement were consummated on June 28, 2024, including the issuance of the registrable securities and the notes to Hayfin, and we have agreed that we will file a registration statement registering the resale of all of the registrable securities (but not the notes). This registration statement is being filed to satisfy this obligation.
The registration rights described above will terminate when the selling securityholders no longer beneficially own any registrable securities or when all registrable securities owned by all of the selling securityholders may be freely resold pursuant to Rule 144 promulgated under the Securities Act without regard to any limitations thereunder.
This prospectus is not an offer to sell or a solicitation of an offer to buy the notes. The SPA and related transactions are further described in our current report on Form 8-K, filed with the SEC on June 28, 2024.
and on 7/9 a 13G was filed
https://www.sec.gov/Archives/edgar/data/1451505/000095015724000971/0000950157-24-000971-index.htm
Which doesn't appear to show any thing sold yet. I'm reading that wrong, aren't I?
Mother Lode
2 months ago
seems to be some consolidation in the offshore industry. Would indicate (to me) demand for those services
DO restructured itself via chapter 11 so it probably got rid of a lot of debt. Unlike RIG
"HOUSTON, April 26, 2021 /PRNewswire/ -- Diamond Offshore Drilling, Inc. ("Diamond" or the "Company") announced today that, on April 23, 2021, it and its debtor affiliates emerged from their chapter 11 process after successfully completing a financial reorganization pursuant to their joint plan of reorganization.
The restructuring significantly delevers the Company's balance sheet and provides substantial liquidity for the Company, resulting in the equitization of approximately $2.1 billion in senior unsecured note obligations and providing the Company with over $625 million of new available capital."