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. (RIG) is a global leader in offshore contract drilling services, specializing in ultra-deepwater and harsh environment operations. This dedicated news hub provides investors and industry professionals with essential updates about the company's strategic developments, operational milestones, and market positioning.
Access real-time press releases and curated analysis covering RIG's contract awards, fleet deployments, and financial performance. Our repository includes updates on deepwater drilling innovations, safety initiatives, and partnership announcements that shape the energy sector.
Key news categories include quarterly earnings reports, new rig contracts, technological advancements in offshore drilling, and regulatory developments. Bookmark this page for immediate access to verified information about RIG's global operations and industry leadership.
For stakeholders tracking offshore drilling markets, this resource offers structured updates without promotional bias. Return regularly to stay informed about Transocean's role in meeting global energy demands through cutting-edge drilling solutions.
Transocean Ltd. (NYSE: RIG) will report its fourth quarter and full year 2020 earnings on February 22, 2021, after NYSE trading closes. The company will host a teleconference on February 23, 2021, at 9 a.m. EST to discuss the results. Participants can join by dialing +1 323-794-2588 and using conference code 3168985. The call will also be available in listen-only mode on the company’s website. Transocean is a leading provider of offshore contract drilling services, operating a fleet of 38 mobile offshore drilling units, including ultra-deepwater and harsh environment floaters.
Transocean Ltd. (NYSE: RIG) announced that the U.S. District Court for the Southern District of New York ruled in favor of Transocean regarding a motion for summary judgment against allegations of default related to its 8.00% Senior Notes due 2027. The Court found that prior restructuring efforts did not breach the indenture governing the notes and confirmed no actual default occurred. This ruling also applies to similar claims concerning the 7.25% Senior Notes due 2025, validating Transocean's position and protecting its interests.
Transocean Ltd. (NYSE: RIG) announced key amendments to its financing documents aimed at resolving previous allegations of default related to its 7.25% Senior Notes due 2025 and 8.00% Senior Notes due 2027. These transactions eliminate prior claims regarding asset transfers and ensure continuity in their financial structure. The company asserts that these changes do not affect the seniority of its existing debt and maintains $1.3 billion in borrowing capacity under its Revolving Credit Facility. The company continues to contest what it considers meritless allegations from debtholders.
Transocean Ltd. (NYSE: RIG) has announced that Petrobras has exercised options for two of its rigs, the Deepwater Corcovado and Deepwater Mykonos. This decision adds approximately $297 million to Transocean's backlog, reinforcing its position in the offshore drilling market. Both rigs will operate in Brazil and will be subject to annual indexed dayrate escalations.
Transocean is recognized for its expertise in offshore contract drilling services, particularly in deepwater and harsh environments.
Transocean Ltd. (NYSE: RIG) reported a net income of $359 million for Q3 2020, translating to $0.51 per diluted share, reversing a net loss from the previous year. Total contract drilling revenues were $773 million, down from $930 million in Q2 2020. Adjusted net loss was $69 million, excluding net favorable items of $428 million. Operating expenses decreased to $470 million from $525 million, aided by reduced activity costs linked to COVID-19. Contract backlog remains strong at $8.2 billion.
Transocean Ltd. (NYSE: RIG) announced updates on its recently launched tender offers to repurchase certain series of senior notes. As of October 26, 2020, approximately $347.6 million of notes had been tendered, including 2020, 2021, 2022, 2023, and 2025 series. The total consideration for validly tendered notes will not exceed $200 million. The company intends to accept all valid offers and will finalize payments shortly. The offers are part of a strategic financial management effort to optimize its debt structure.
Transocean Ltd. (NYSE: RIG) has received a formal notice from the NYSE regarding non-compliance with continued listing standards due to its share price falling below $1.00 for 30 consecutive trading days. The company plans to regain compliance within a six-month period, requiring the share price to exceed $1.00 on the last trading day of any month. During this time, shares will continue to trade on the NYSE with the designation '.BC'. Failure to rectify this may lead to delisting, though this notification does not affect ongoing operations or debt agreements.
Transocean Ltd. (NYSE: RIG) will report its third-quarter 2020 earnings after the market closes on November 2, 2020. A teleconference to discuss the results is scheduled for November 3, 2020, at 9 a.m. EST. The company is a leading provider of offshore contract drilling services with a fleet of 38 mobile offshore drilling units, including 27 ultra-deepwater floaters. It specializes in deepwater and harsh environment drilling, maintaining one of the highest specification fleets worldwide.
Transocean Ltd. (NYSE: RIG) released a quarterly Fleet Status Report on October 14, 2020, indicating a total backlog of approximately $8.2 billion. The report highlights that the customer exercised a 180-day option for the Dhirubhai Deepwater KG1 in India. Transocean specializes in offshore drilling services, operating a versatile fleet that includes 38 mobile offshore drilling units and two new ultra-deepwater drillships under construction. Forward-looking statements indicate potential risks affecting contract durations and prices.
Transocean Ltd. (NYSE: RIG) announced the commencement of cash tender offers for its outstanding debt securities. The offers include the purchase of all 6.500% Senior Notes due 2020 and up to $200 million of various other notes due 2021-2025. The offer for the 2020 Notes is not subject to the maximum amount limit. Holders must tender their notes by 5:00 p.m. on October 26, 2020, for early consideration. The offers will expire on November 9, 2020, unless extended. The maximum purchase price is set at $200 million, allowing the company flexibility to adjust as necessary.
