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"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.
as far as I can see most of the energy sector is down. Even CCJ Uranium.
Transocean Ltd. Reports First Quarter 2024 Results
17:24:00 PM ET, 04/29/2024 - GlobeNewswire
Three months ended March 31, 2024 December 31,2023 Sequential change
(In millions, except per share amounts and backlog)
Contract drilling revenues $763 $741 $22
Adjusted contract drilling revenues $767 $748 $19
Revenue efficiency(1) 92.9% 97.0% (4.1)%
Operating and maintenance expense $523 $569 $(46)
Net income (loss) attrib. to con. int. $98 $(104) $202
Diluted earnings (loss) per share $0.11 $(0.13) $0.24
Adjusted EBITDA $199 $122 $77
Adjusted EBITDA margin 26.0 % 16.3% 9.7%
Adjusted net loss $(22) $(74) $52
Adjusted diluted loss per share $(0.03) $(0.09) $0.06
Yep. Best report I have seen from them in years, and we fall :-/
a lot of short interest (129.5 million. Approximately 18%)
First profit in a long time. Exceeded expectations there for sure. Not much market reaction yet though. $RIG
"Transocean Ltd (RIG) Q1 2024 Earnings: Surpasses Analyst Revenue Forecasts, Adjusts to Market ..."
https://finance.yahoo.com/news/transocean-ltd-rig-q1-2024-113308802.html
Reminder; Earnings after the bell today 4/29/24
Transocean Ltd. Announces First Quarter 2024 Earnings Release Date
April 10, 2024 16:23 ET
| Source: Transocean Ltd.
STEINHAUSEN, Switzerland, April 10, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the first quarter 2024 on Monday, April 29, 2024.
The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, April 30, 2024. Individuals who wish to participate should dial +1 785-424-1222 and refer to conference code 102568 approximately 15 minutes prior to the scheduled start time.
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 12 p.m. EDT, 6 p.m. CEST, on April 30, 2024. The replay, which will be archived for approximately 30 days, can be accessed at +1 402-220-0669, passcode 102568. The replay also will be available on the company's website.
"Transocean (RIG) to Support Equinor's Barents Sea Endeavours"
https://www.zacks.com/stock/news/2263864/transocean-rig-to-support-equinors-barents-sea-endeavours
"TotalEnergies Beats Q1 Profit Forecast Despite Lower Natural Gas Prices
https://oilprice.com/Latest-Energy-News/World-News/TotalEnergies-Beats-Q1-Profit-Forecast-Despite-Lower-Natural-Gas-Prices.html
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"Transocean (RIG) Prolongs Its Stay With Hess and TotalEnergies"
https://www.zacks.com/stock/news/2262525/transocean-rig-prolongs-its-stay-with-hess-and-totalenergies
"Equinor Beats Q1 Earnings Expectations as Oil and Gas Output Jumps"
https://oilprice.com/Latest-Energy-News/World-News/Equinor-Beats-Q1-Earnings-Expectations-as-Oil-and-Gas-Output-Jumps.html
"Biden Unlikely to Strictly Enforce Sanctions on Iranian Oil Ahead of Elections"
https://oilprice.com/Latest-Energy-News/World-News/Biden-Unlikely-to-Strictly-Enforce-Sanctions-on-Iranian-Oil-Ahead-of-Elections.html
As mentioned before, this continues to be a good Swing Trade. Has pd. well many times....
GL all.
Hawk
International Oil Drilling Boosts SLB’s Net Profit in Q1"
https://oilprice.com/Latest-Energy-News/World-News/International-Oil-Drilling-Boosts-SLBs-Net-Profit-in-Q1.html
Transocean Ltd. Provides Quarterly Fleet Status Report
https://www.globenewswire.com/news-release/2024/04/17/2864996/0/en/Transocean-Ltd-Provides-Quarterly-Fleet-Status-Report.html
"Institutional Investors Double Down On Oil Despite Divestment Pledges"
https://oilprice.com/Energy/Crude-Oil/Institutional-Investors-Double-Down-On-Oil-Despite-Divestment-Pledges.html
"Transocean Ltd. Announces Pricing of Upsized Private Offering of Senior Notes Due 2029 and Senior Notes Due 2031"
https://www.globenewswire.com/news-release/2024/04/11/2861929/0/en/Transocean-Ltd-Announces-Pricing-of-Upsized-Private-Offering-of-Senior-Notes-Due-2029-and-Senior-Notes-Due-2031.html
Retiring Debt:
"Transocean Ltd. (NYSE: RIG) announced that Transocean Inc., its wholly-owned subsidiary (the “Company” and, together with Transocean Ltd., “Transocean”), has commenced an offer to purchase for cash (collectively, the “Offers” and each, an “Offer”) any and all of its outstanding 11.50% Senior Guaranteed Notes due 2027 (the “2027 Super Priority Guaranteed Notes”) and 7.25% Senior Notes due 2025 (the “2025 Priority Guaranteed Notes,” collectively with the 2027 Super Priority Guaranteed Notes, the “Notes”), in each case, from holders thereof (each, a “Holder” and collectively, the “Holders”). Each of the Notes specified in the table below are referred to as a “series” of Notes. The Offers are being made pursuant to an Offer to Purchase, dated April 11, 2024 (the “Offer to Purchase”)."
https://www.globenewswire.com/news-release/2024/04/11/2861511/0/en/Transocean-Ltd-Announces-Cash-Tender-Offers.html
"Traders Are Buying Oil At The Fastest Rate Since 2020"
https://oilprice.com/Energy/Crude-Oil/Traders-Are-Buying-Oil-At-The-Fastest-Rate-Since-2020.html
"North Sea Oil and Gas Firms Continue Drilling Despite Climate Goals"
https://oilprice.com/Energy/Crude-Oil/North-Sea-Oil-and-Gas-Firms-Continue-Drilling-Despite-Climate-Goals.html
"Brent Breaks Above $91 as Bullish Sentiment Builds"
https://oilprice.com/Energy/Energy-General/Brent-Breaks-Above-91-as-Bullish-Sentiment-Builds.html
Gregory Lewis at BTIG issues Buy Recommendation on 04/02/24 with a $12.00 price target.
"Brent Closes in on $90 as Geopolitical Risk Climbs"
https://oilprice.com/Energy/Energy-General/Brent-Closes-in-on-90-as-Geopolitical-Risk-Climbs.html
Transocean Ltd. Announces $195 Million Ultra-Deepwater Drillship Contract
April 01, 2024 16:24 ET
| Source: Transocean Ltd.
STEINHAUSEN, Switzerland, April 01, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a 365-day contract extension for the Deepwater Asgard with an independent operator in the U.S. Gulf of Mexico. The program is expected to commence in June 2024 in direct continuation of the rig’s current program and includes additional services. The total contract value of approximately $195 million includes a $10.9 million lump sum payment, which is not included in the estimated backlog of approximately $184 million.
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. In addition, Transocean is constructing one ultra-deepwater drillship.
Gold up too. Bad situation and getting worse.
"Oil Prices Up as Iranian Embassy in Syria Leveled in Airstrike"
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Up-as-Iranian-Embassy-in-Syria-Leveled-in-Airstrike.html
"Oil Could Rise More than Anyone Expects This Year"
https://oilprice.com/Energy/Oil-Prices/Oil-Could-Rise-More-than-Anyone-Expects-This-Year.html
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BUSINESS SUMMARY:
Transocean Inc. (Transocean) is the world's largest offshore drilling contractor and the leading provider of drilling management
services worldwide.
With a fleet of 139 mobile offshore drilling units plus three ultra-deepwater newbuild drillships under construction, Transocean's
fleet is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of
the offshore drilling business.
Transocean owns or operates a contract drilling fleet of 45 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment
semisubmersibles and drillships), 26 Midwater Floaters, 10 High-Specification Jackups, 55 Standard Jackups and other assets utilized in the
support of offshore drilling activities worldwide.
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