Transocean Losses Narrows, Revenue Up 5%
US-based offshore drilling company Transocean reported a reduction in net loss for the June quarter to $68mn vs. a net loss of $103mn in the previous year. Total contract drilling revenues rose 5.5% YoY to $692mn, and revenue efficiency was 97.8% against 94.9% in Q1....
Transocean Downgraded to CCC- on Potential Restructuring
Offshore drilling company Transocean was downgraded to CCC- from CCC by S&P with a negative outlook as the rating agency sees the company likely going for a debt restructuring, a debt exchange, or another transaction due to unsustainable leverage. The potential...
Transocean Lands $252mn Contract for Deepwater Atlas Drillship
American offshore drilling company Transocean announced that BOE Exploration & Production LLC (BOE) has awarded Transocean a contract worth $252mn for its new-build ultra-deepwater drillship, the Deepwater Atlas, which includes a mobilization fee of $30mn. In...
