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Everytime I see your name it reminds me of my position in RIG ;)
I do want to point this out... Your post? Fabulous question back then. KUDOS!!!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166412720
One has to make the best of a shitty situation. To the war mangers.
Sic semper tyrannis
I'm just in Awe this morning. Hate the reason but It's an amazing move.
Looks like it's going to be a wild ride tomorrow. Oil just broke $130....
Red
"Transocean: A Great Call Option With A Perfect Storm Brewing"
https://seekingalpha.com/article/4493131-transocean-great-call-option-perfect-storm-brewing
DAR would probably work. You just need 3 million of them!
" rel="nofollow" target="_blank">https://www.youtube.com/watch?v=
Transocean (RIG) Stock Rises Despite Posting Wider Q4 Loss
Zacks Equity Research
Fri, March 4, 2022, 2:06 PM
https://finance.yahoo.com/news/transocean-rig-stock-rises-despite-210609869.html
The share price of Transocean Ltd. RIG has gone up 13.6% since the fourth-quarter 2021 earnings announcement on Feb 22.
Apart from the general bullishness around the energy sector due to surging commodity prices, this stock’s performance could be attributed to total fleet average daily revenues in the fourth quarter of 2021 rising to $352.5 million from $347.5 million in the year-earlier quarter and total revenues beating the Zacks Consensus Estimate.
Behind the Earnings Headlines
Transocean reported an adjusted net loss of 19 cents per share for the fourth quarter of 2021, wider than the Zacks Consensus Estimate of a loss of 10 cents. This underperformance reflects a dip in revenue efficiency and lower-than-expected utilization, which, at 53.4%, missed the consensus mark of 57%.
However, Transocean’s bottom line improved from the year-ago period’s loss of 34 cents due to higher dayrates in the Harsh Environment floaters segment.
The offshore drilling powerhouse’s total adjusted revenues of $671 million beat the Zacks Consensus Estimate of $668 million. However, adjusted revenues fell 2.76% from the year-earlier figure of $690 million.
Segmental Revenue Breakup
Transocean’s Ultra-deepwater floaters contributed to 69.6% of the total contract drilling revenues, while Harsh Environment floaters accounted for the remaining 30.4%. In the fourth quarter of 2021, revenues from Ultra-deepwater and Harsh Environment floaters totaled $432 million and $189 million, respectively, compared with the corresponding year-ago quarter’s reported figures of $440 million and $250 million.
Revenue efficiency was 94.5%, lower than 98.1% reported sequentially, and lower than the year-ago value of 97.2%.
Dayrates, Utilization & Backlog
Average dayrates in the quarter rose to $352,500 from the year-ago level of $347,500 and also beat the Zacks Consensus Estimate of $333,000. RIG witnessed a strong year-over-year increase in average revenues per day from Harsh Environment floaters from $357,500 to $387,700 but a decrease in the same from Ultra-deepwater floaters from $342,100 in the year-ago quarter to $337,100. Overall, fleet utilization was 53.4% in the quarter, down from the prior-year period’s utilization rate of 58.4%.
Transocean’s backlog record of $6.5 billion for the quarter reflects a sequential decrease from $7.1 billion from the last quarter.
Costs, Capex & Balance Sheet
Operating and maintenance costs decreased to $430 million from $465 million a year ago. The company spent $71 million on capital investments in the fourth quarter. Cash provided by operating activities totaled $185 million. The company had cash and cash equivalents worth $976 million as of Dec 31, 2021. Long-term debt was $6.66 billion with debt-to-capitalization of 37.3% as of the same date, declining from the sequential quarter’s 37.6%.
Guidance
For the first quarter of 2022, this offshore drilling contractor expects adjusted contract drilling revenues of $600 million, indicating a decline from the sequentially reported figure of $671 million. For full-year 2022, It expects adjusted revenues of approximately $2.7 billion, operations and maintenance expenses of $1.7 billion. Its general and administrative expenses for the first quarter are expected at $44 million, and between $175 million and $180 million for the full year. Net interest expenses for the first quarter are forecast to be approximately $104 million and about $402 million for 2022, while the capital expenditure, including the capitalized interest for the first quarter, is estimated at $121 million. This liquidity projection includes the estimated 2022 Capital Expenditure (capex) of $1.3 billion, which includes $1.2 billion related to newbuilds and $100 million for maintenance capex.
Finally, Transocean management sees 2022 as one of the best years in a long time, with the growing customer demand and the high-specification rig usage going up.
Transocean currently has a Zacks Rank #3 (Hold)
It certainly makes flying easier!
But they can do it cleanly.
They discovered they need fossil fuels after all.
"Looking ahead, co added, "As we move into 2022, we are more optimistic than we have been in the past seven years. Energy demand remains resilient driving oil prices to seven-year highs. [W]e expect the upward trend in dayrates to continue as we progress through the"
year."
Briefing.com
Brent North Sea crude 117 and change
Brent North Sea Crude is 104.97
https://oilprice.com/oil-price-charts/
They need to maintain and build
in the north sea----they can make money on 75 dollar oil
We need a reversal of the lease ban in the Gulf
with oil at a new high---are the rigs drilling or just looking for a place to drill------hopefully not the investors
With the Infrastructure Bill passing, I think that RIG is on the rise. What do you guys think?
Here is their update: https://finance.yahoo.com/quote/RIG/
https://oilprice.com/Latest-Energy-News/World-News/US-Crude-Inventories-Continue-To-Decline.html
Crude oil inventories continue to decline
"Source: EIA DPR
The EIA’s Drilling Productivity Report also showed another decrease in the number of Drilled but Uncompleted wells (DUCs). In January’s report, the EIA had estimated that the number of DUCs had fallen to 4,616 in December from 4,830 in November. The EIA’s current report shows that January’s DUC count has fallen even further, slipping 191 to 4,466.
This is down from 7,449 DUCs at the beginning of last year, and 8,547 at the beginning of 2020.
Some have suggested that the oil markets could be in for hard times ahead, as all indications that our future will include increased future oil demand growth while oil and gas investments have failed to rebound as quickly.
New drilling acitivity as reported by Baker Hughes is on the upswing, but oil companies appaear to be significantly more interested in completing wells rather than drilling new ones. The number of active oil-directed drilling rigs has increased 206 over the last year. While this is an impressive 12-month gain, active rigs are still down 162 from the level seen two years ago.
By Julianne Geiger for Oilprice.com"
Brent North Sea Crude closed the week at 94.44.
CNBC Pete Najarian fast money final call said he's long and buying RIG at these levels, mean while there was a total moron sitting on the offer with like $50k selling, probably a corrupt MM that's short, they got taken out, and could get squeezed Monday morning.
SOME Big refineries are still having turnarounds---and arabs like that
Surprise Crude Draw Suggests Tighter Oil Market
https://oilprice.com/Latest-Energy-News/World-News/Surprise-Crude-Draw-Suggests-Tighter-Oil-Market.html
Federal Judge Annuls Massive Gulf Of Mexico Lease Sale
https://oilprice.com/Energy/Crude-Oil/Federal-Judge-Annuls-Massive-Gulf-Of-Mexico-Lease-Sale.html
Futures Market Shows Tight U.S. Gasoline Supply Ahead
https://oilprice.com/Latest-Energy-News/World-News/Futures-Market-Shows-Tight-US-Gasoline-Supply-Ahead.html
2 of many events that indicate a rise in price
yeah we do. ;)
Saudi Arabia Expected To Raise March Oil Prices On Robust Demand
https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-Expected-To-Raise-March-Oil-Prices-On-Robust-Demand.html
U.S. Rig Count Climbs As Shale Prepares For Takeoff
https://oilprice.com/Energy/Energy-General/US-Rig-Count-Climbs-As-Shale-Prepares-For-Takeoff.html?utm_source=browser&utm_medium=push_notification&utm_campaign=vwo_notification_1642812320&_p_c=1
some guy is rowing to new york from Britain---must be fair weather days
saw it written, in the clouds, and cave scrolls
oh ye of little faith.
stockhouse doesnt rate RIG--- 4 some reason
https://www.ctvnews.ca/polopoly_fs/1.5365834.1616966397!/httpImage/image.jpg_gen/derivatives/landscape_1020/image.jpg
tu wit ----ther was buzz about RIG's Contract bidding and Futures
Shell announced on Thursday that it would no longer proceed with its investment in the Cambo oil field.
Cambo was estimated to be capable of producing 175 million barrels of oil in its first phase. Cambo has drawn the attention of environmental groups protesting its development.
https://oilprice.com/Latest-Energy-News/World-News/This-Could-Mean-The-End-To-Cambo-Oil-Field-Development.html
Transocean Ltd. Announces Third Quarter 2021 Earnings Release Date
Transocean Inc.
Mon, October 18, 2021,
STEINHAUSEN, Switzerland, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the third quarter of 2021 on Monday, November 1, 2021 after the market close.
The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 2 p.m. CET, on Tuesday, November 2, 2021. Individuals who wish to participate should dial +1 323-994-2093 approximately 15 minutes prior to the scheduled start time and refer to conference code 2585978.
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, 5 p.m. CET, on November 2, 2021. The replay, which will be archived for approximately 30 days, can be accessed at +1 719-457-0820, passcode 2585978, pin 4459. The replay also will be available on the company's website.
And transocean will stay at 4$ FOREVER!!! Haha
where will we be at $100 dollars a barrel. I see some futures are projecting $200 a barrel
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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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