By Stephen Nakrosis

Transocean Ltd. (RIG) said Tuesday it was planning to retire three oil rigs and take a related non-cash charge of $580 million in its third quarter.

In a filing, the company said it planned to retire the ultra-deepwater floater Discoverer Enterprise and its sister ships Discoverer Spirit and Discoverer Deep Seas.

The rigs are being classified as held for sale, the company said.

Transocean also said it is evaluating the long-term competitiveness of its fleet, adding "additional rigs may be identified as candidates for retirement."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 03, 2019 17:52 ET (21:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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