Transocean Ltd (RIG) Options

correction an increase of 24.88 million not 14.88

Short % as of 7/15/2024 was 24.78%. An increase of 14.88 million with an increase of 8.43 days to cover

Hey all you RIGGERS ... Wow !! What a day ! Mother L .. Your post about short % .... Pls Explain. Thx GLTA Go RIG D Man

Short % as of 6/28/2024 was 21.04%

RIG cpps $5.60 (+.34 )

STEINHAUSEN, Switzerland—July 24, 2024—Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet
Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.

This quarter’s report includes the following updates:

• Deepwater Atlas – 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 – 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 – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate
of $515,000.

• Deepwater Invictus – Awarded a 40-day contract extension in the U.S. Gulf of Mexico.
• Transocean Norge – Awarded a three-well contract extension in Norway at a current dayrate of
$517,000.

• Transocean Spitsbergen – Awarded a three-well contract extension in Norway at a current dayrate
of $483,000.

• Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of
$390,000.

• Deepwater Mykonos – 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 company’s total backlog is approximately $8.8 billion.

The report can be accessed on the company’s website: www.deepwater.com.

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 company’s fleet of offshore drilling rigs.
This quarter’s report includes the following updates:

Deepwater Atlas – 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 – 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 – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate of $515,000.

Deepwater Invictus – Awarded a 40-day contract extension in the U.S. Gulf of Mexico.

Transocean Norge – Awarded a three-well contract extension in Norway at a current dayrate of $517,000.

Transocean Spitsbergen – Awarded a three-well contract extension in Norway at a current dayrate of $483,000.

Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of $390,000.

Deepwater Mykonos – 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 company’s total backlog is approximately $8.8 billion.

The report can be accessed on the company’s 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.

19th Nervous Breakdown?

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.

"JP Morgan Explains Why Oil Prices Could Hit $100 This Year"

https://oilprice.com/Latest-Energy-News/World-News/JP-Morgan-Explains-Why-Oil-Prices-Could-Hit-100-This-Year.html

Longer term fundamentals should drive this puppy. But right now the stock is cheap. Good time to buy? I think so!

7/29 will tell the story. Whether we continue slowly along this path, or an inflection point with an acceleration upwards. Would like to see (even if small) a beat on top and bottom line with improved guidance closing out 24 and going into 25. 2025 should be a very good year at least that's what the guidance has been so far

Offside - Deflection 1

It ain't that easy

Who gets excited anymore?

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.

Day 4 of a nice move.



Cpps 5.63

and First time over the 50d in 30 days

I don't think so. People just cheerlead differently. ;)

By all means - Continue on.

Another + Day... Am I the only Cheerleader for RIG ?? WTF... ??

Good Day You " Hosers" Nice gainer today ! I.S.A meeting in Jamaica.... { International Sea Bed Auth} going to write the new Mining Code this month...... Thoughts .... Would effect RIG and TMC I would think. GLTA D Man

Addendum:
Hayfin Specialty Opportunities Fund II LP is shown as holding 55.5 million shares of RIG

Hard to say. It just looks like a type of asset swap to me. Hayfin loses their 2/3's share in Norge for the shares in RIG. I would assume that 100% of the day rate now goes to RIG. So I guess that could be viewed as an exchange of money, but who knows

I also see where Met life is looking at acquiring Hayfin so maybe they are looking to adjust their loan portfolio. Depending on how hayfin views the possible buyout.
At this point your guess is as good as mine

"MetLife, Inc. MET is reportedly in talks to acquire Hayfin Capital Management, a London-based private credit specialist, per Bloomberg. The potential deal might value Hayfin Capital Management at $1.3 billion. The company has been looking to divest its operations for the past year and has even attracted interest from several parties."

Sec filings link

RIG Sec filings

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 “SPA”) with certain funds managed and/or advised by Hayfin Capital Management LLP and/or its affiliates (together, “Hayfin”), 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 “registrable securities”) and (ii) $130 million aggregate principal amount of our 8.00% Senior Notes due 2027, as “Additional Securities” pursuant to our indenture dated January 17, 2020 (such notes, referred to as the “notes”), to Hayfin in exchange for the acquisition by Transocean of Hayfin’s 67.0% ownership interest in the joint venture (the “Joint Venture”) 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?

Transocean Hayfin deal. It appears they have traded shares for Hayfin's interest in Transocean's Norge

https://lvs.freeforums.net/thread/22915/transocean-issues-shares-hayfin-norge

This is a walk down memory lane... number 18 on the board was my first RIG post.

It looks like this...

RIG: UBS Securities Starts @ Buy; Sets Tgt @ $201; Analyst Notes

Thursday , May 15, 2008 09:10ET

Issuer: Transocean Inc (NYSE: RIG)

Analyst Firm: UBS Securities Inc.

Ratings Action: INITIATE

Current Rating: Buy

Target Price Action: INITIATE
Target Price: $201.00

Analyst Comments: RIG is UBS's Top Pick as they believe it is the primary beneficiary of rising deepwater dayrates.

This rating information was reported by TheFlyOnTheWall.

RIG cpps 5.18

Hello!

That info is easy to google and If my memory serves me right - There was a pretty long period where being in any oil stock was mind shattering.

Here's a quick article I found by googling "What happened to Transocean in 2014." ;)

https://www.fool.com/investing/general/2014/08/28/why-transocean-ltd-stock-has-plunged-21-in-2014.aspx

Also - fun to note...

RIG did fall below a dollar once upon a time. Now that was something! That was on BK fears. Which BK never happened.

Good Day ..today. No news .. Anyone got anything ? Pretty quiet Board for a company this size ..... D Man

Thx .... you Mother.....

"Transocean's (RIG) Deepwater Aquila Begins Work Offshore Brazil"

https://www.zacks.com/stock/news/2296491/transoceans-rig-deepwater-aquila-begins-work-offshore-brazil

2 for 3 plus days..... since The D man in da houze !! GLTA

"Why Big Investors Are Doubling Down Right Now on Oil & Gas Stocks"


https://oilprice.com/Energy/Energy-General/Why-Big-Investors-Are-Doubling-Down-Right-Now-on-Oil-Gas-Stocks.html

"Transocean Ltd. Announces $188 Million Ultra-Deepwater Drillship Contract Extension"

https://www.globenewswire.com/news-release/2024/06/26/2904360/0/en/Transocean-Ltd-Announces-188-Million-Ultra-Deepwater-Drillship-Contract-Extension.html

Greetings All, Yesterday took a first time position in RIG 2500 units. Can anyone tell me what happened from July 1 2014 @ 45.00 and then a crash to 15.00 in March 2015 ?? Have never followed RIG until yesterday Thinking they might play a role in the Deep Sea mining space. Hope my entry will bring us good fortune, But today was not a good start...... GLTA D Man Toronto Can

"Brazil's Oil Surge Set to Challenge OPEC's Market Strategy"

https://oilprice.com/Energy/Crude-Oil/Brazils-Oil-Surge-Set-to-Challenge-OPECs-Market-Strategy.html

Too much debt to service......

Hawk

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."

I wish someone would buy Transocean . ;)

"Noble to Buy Diamond Offshore As Oil and Gas Mergers Continue"

"Noble Corporation is set to buy Diamond Offshore Drilling in a stock-and-cash deal valued at $1.6 billion as the oil and gas mergers continue with the oilfield services sector.

Noble and Diamond Offshore said on Monday that they had entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash deal. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock.
The implied cash and stock consideration to be received by Diamond shareholders is $15.52 per share, representing a premium of 11.4% to Diamond's closing share price on June 7, 2024."

https://oilprice.com/Latest-Energy-News/World-News/Noble-to-Buy-Diamond-Offshore-As-Oil-and-Gas-Mergers-Continue.html

In for the Swing again....trade it.

Hawk

On May 27, 2024 Refinitiv/Verus upgraded Transocean (RIG.NaE) from HOLD to BUY.

according to Fidelity short interest is around 18%

"Transocean Insider Bought Shares Worth $12,020,000, According to a Recent SEC Filing"

https://finance.yahoo.com/news/transocean-insider-bought-shares-worth-214741027.html

On 5/17/2024:
Mohn Frederik Wilhelm: bought 2 million shares
Perestroika: bought 2 million shares
Perestroika (Cyprus) Ltd: bought 2 million shares

6 million shares controlled by one guy

"Memorial Day Travel Expected to Near Record High"

https://oilprice.com/Energy/Energy-General/Memorial-Day-Travel-Expected-to-Near-Record-High.html

i would like to know what the net effect of retiring the old and issuance of the new debt is

RIG Q1 2024 Earnings Transcript

https://finance.yahoo.com/news/transocean-rig-q1-2024-earnings-211512559.html

Don't know. I always wait for the transcript.

That's fair.

I'm curious what happened in their conference call.