Transocean Ltd. (RIG)

[louman18]

sounds like confidence to me.

[Mother Lode]

Several insider purchases
5/17/2022 2 million shares Mohn Frederik Wilhelm
5/17/2022 2 million shares Perestroika

[Mother Lode]

Offshore rig day rates heading for highest level in ‘almost a decade’

The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.


https://www.energyvoice.com/oilandgas/north-sea/rigs-vessels/412043/offshore-rig-day-rates-heading-for-highest-level-in-almost-a-decade/

[Hawkeye_tt]

Nothing good will happen under this Administration.....just true.

[Mother Lode]

New Analysis: Potential Lapse in 5-Year Leasing Program Threatens American Energy Security

https://www.api.org/news-policy-and-issues/news/2022/03/29/potential-lapse-in-5-year-leasing-program-threatens-american-energy-security

[salih93]

Beast is awoken!!!

[Mother Lode]

Unprecedented Lapse’ in U.S. Offshore Oil, Natural Gas Leasing Imminent, Warns Industry

https://www.naturalgasintel.com/unprecedented-lapse-in-u-s-offshore-oil-natural-gas-leasing-imminent-warns-industry/

[Mother Lode]

Shell mobilises Transocean drilling rig to Colombia for offshore campaign
https://www.upstreamonline.com/rigs-and-vessels/shell-mobilises-transocean-drilling-rig-to-colombia-for-offshore-campaign/2-1-1192900

You need a subscription to read the full story. This is just the headline

[eastunder]

That's an interesting story.

Transocean Ltd. Invests in Exploration of Seabed Minerals to Support the Renewable Energy Supply Chain

6:34 AM ET, 03/29/2022 - GlobeNewswire

STEINHAUSEN, Switzerland, March 29, 2022 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it has purchased a minority interest in Ocean Minerals Ltd., a company engaged in the exploration of seabed resources containing metals critical to the growing renewable energy market.

Ocean Minerals, through its affiliate, Moana Minerals Limited, was awarded a license by the Cook Islands Seabed Minerals Authority last month for exploration of polymetallic nodules within the application area located in the Cook Islands exclusive economic zone. Critical minerals, such as cobalt, nickel, copper, manganese, and rare earth metals found in the nodules are essential for the production of high-capacity batteries.

Transocean is working with Ocean Minerals on the technology and services that will be required to collect nodules from the seabed upon receipt of a production license. The Cook Islands is one of several offshore locations worldwide with large, accessible deposits of nodules containing a high content of these critical minerals. Responsible recovery of the nodules would provide additional supply required to support growing demand.

“The technical challenges associated with the efficient recovery of deepsea polymetallic nodules represent an opportunity for Transocean to leverage our unique offshore expertise in support of the rapidly emerging energy storage market,” said Chief Executive Officer Jeremy Thigpen. “We are excited to work alongside Ocean Minerals to help support efforts to achieve a lower carbon energy economy and meet the growing global demand for critical minerals. A mixture of all energy sources will be required to meet future global energy demands, and our work with Ocean Minerals is another way for Transocean to continue to provide essential offshore energy services.” In addition to its investment in Ocean Minerals, Transocean previously disclosed its commitment to reduce its greenhouse gas emissions intensity by 40% by 2030 and recently announced it will be using one of its rigs to drill one well and a sidetrack for the Northern Lights Carbon Transport and Storage Project.

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 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.

[Mother Lode]

Moana Minerals Limited is wholly-owned subsidiary of Ocean Minerals LLC, and is a deepwater critical metals exploration and development company incorporated in the Cook Islands with offices and operations based in Rarotonga, Cook Islands. The company has made a high-grade discovery of polymetallic nodules containing cobalt, nickel, copper, manganese, and rare earth elements entirely within the Exclusive Economic Zone (EEZ) of the Cook Islands. This deposit, reported in accordance with NI 43-101 and JORC standards, reports an Inferred resource containing over 1 million tonnes of cobalt, 470,000 tonnes of nickel, 260,000 tonnes of copper, and 31 million tonnes of manganese. Additionally, independent metallurgical laboratory tests have indicated rare earth element volumes in excess of 600,000 tonnes (aggregate REE basket tonnage), also contained within the nodules.

Moana Minerals Limited holds an Exploration License for 23,630 square kilometers within the Cook Islands EEZ, where the company continues to conduct further exploration activities aimed at securing environmental approvals to perform commercial operations and increasing confidence levels and size of the reported mineral resource. In parallel, and in partnership with Transocean, the Company is advancing work to develop recovery systems to mine and process these high-quality seafloor polymetallic nodules on a commercial scal

[Mother Lode]

Moana Minerals Limited, a Wholly-owned Subsidiary of Ocean Minerals LLC, Announces Award of an Exploration License by the Cook Islands Seabed Minerals Authority

https://www.prnewswire.com/news-releases/moana-minerals-limited-a-wholly-owned-subsidiary-of-ocean-minerals-llc-announces-award-of-an-exploration-license-by-the-cook-islands-seabed-minerals-authority-301489487.html

[Mother Lode]

Transocean announces that it has purchased a minority interest in Ocean Minerals Ltd
6:35 AM ET 3/29/22 | Briefing.com
Transocean is working with Ocean Minerals on the technology and services that will be required to collect nodules from the seabed upon receipt of a production license. The Cook Islands is one of several offshore locations worldwide with large, accessible deposits of nodules containing a high content of these critical minerals. Responsible recovery of the nodules would provide additional supply required to support growing demand.

[Mother Lode]

OPEC SECRETARY-GENERAL BARKINDO: ACCORDING TO OUR OUTLOOK PROJECTIONS, THE OIL AND GAS INDUSTRY WILL NEED ABOUT $11 TRILLION IN INVESTMENTS IN ORDER TO MEET FUTURE ENERGY DEMAND.
6:49 AM · Mar 28, 2022·financialjuice

[eastunder]

So tired of the five range

[Mother Lode]

Russia’s War, Increasingly Tight Domestic Balances Driving Big Gains for April Baseload Natural Gas

https://www.naturalgasintel.com/russias-war-increasingly-tight-domestic-balances-driving-big-gains-for-april-baseload-natural-gas/

[ernie44]

double or tripple is GOOD

Waking up to overnight sales like: pic.twitter.com/oeX4NhxqLx

— Poshmark (@Poshmarkapp) January 14, 2022

[Mother Lode]

"Transocean Stock Can Double If Crude Oil Remains Firm"

https://investorplace.com/2022/03/transocean-stock-can-double-if-crude-oil-remains-firm/

[ernie44]

Must be a demand for oil --even with electric cars gaining interest

no electric planes yet.........yet we got busses

[Mother Lode]

we need to watch this. Things are turning around but if: This

"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

Get overturned it looks like a strong buy signal

[weedtrader420]

WOOHOOOOOO RIG$

[Dead Presidents]

Another bad call Amigo!!!!!!!

RIG has been killing it…and so have I !!!!!!!!!!

REALIZED GAINS PADRE’….REALIZED GAINS $$$$$$$$$$$$$$$$

[Mother Lode]

"This publication presents the Bureau of Ocean Energy Management's (BOEM) estimates of oil and gas reserves in the Gulf of Mexico Outer Continental Shelf. As of December 31, 2018, it is estimated that the Original Reserves are 24.86 billion barrels of oil and 195.5 trillion cubic feet of gas from 1,319 fields"

there are approximately 45 oil and gas rigs in the gulf

[eastunder]

Come on. Is it me or is that just a little stretched out there?

It would be good for it to drop just a wee bit. Let me finish what I have been working on. LOL

Drop just a little. Just a wee bit. Then LETS GO!

[Pyramid2]

Commodity Trader: Oil & Gas, equites: otc, micro-cap, big board,
nice pull back into consolidation...trading on dip & rip open Wednesday * * > $300 oil from the Master Putin. * * <
see you Master with the World's Navy & Air Force

RIG the Atlantic!

Let's go!

[Montero_red]

Woo hoo...! $6 here we come...


Red

[Mother Lode]

"Offshore Oil Is Making A Comeback As Demand Returns"

https://oilprice.com/Energy/Energy-General/Offshore-Oil-Is-Making-A-Comeback-As-Demand-Returns.html

[surfer44]

Even Warren is loading up on oil.

Warren Buffett Guzzles Up Occidental's Stock

Dan Burrows, Contributing Writer
Mon, March 7, 2022, 7:08 AM
In this article:

Warren Buffett has been absolutely hoovering up stock in Occidental Petroleum (OXY, $56.15). In a flurry of recent purchases, Berkshire Hathaway (BRK.B, $325.34) bought 91 million OXY shares, or 9.8% of the integrated oil and gas company's shares outstanding.

The addition to the Berkshire Hathaway equity portfolio coincides with the ongoing melt-up in energy prices, which was sparked by the Russian invasion of Ukraine. Global benchmark Brent crude oil futures briefly topped $130 a barrel in the wee hours of Monday trading, and have gained about 30% over the past month.

The common shares Berkshire just purchased add to its already substantial exposure to the energy firm, which includes $10 billion worth of 8% preferred shares, as well as 84 million warrants to purchase OXY stock. Occidental shares must trade above the warrants' exercise price of $59.62 for the warrants to be in the money.

Buffett received the warrants as an equity "kicker" when he bought the preferred shares in 2019. The funding provided by Buffett helped Occidental win its $55 billion bidding war against Chevron (CVX) to acquire Anadarko Petroleum.

If nothing else, Buffett's buying spree has clearly contributed to OXY stock's dramatic outperformance of late. Berkshire Hathaway purchased more than 60 million OXY shares between March 2 and March 4 – and OXY stock jumped more than 28% over those sessions.

Indeed, on March 4 alone, Berkshire picked up a total of 34 million shares. Occidental closed the session up 17.6%, on abnormally heavy volume. For the year-to-date, OXY stock has gained 94% vs. a 35% increase for the S&P 500 energy sector.

Occidental Petroleum isn't the only recent Buffett move intended to expand BRK.B's exposure to the energy sector. Berkshire Hathaway upped its stake in Chevron by 33% in the fourth quarter of 2021, as well. The holding company held 38.2 million shares in the Dow component as of Dec. 31, a stake which is currently worth $6.1 billion.

Both CVX and OXY get consensus Buy recommendations from Wall Street analysts, but they have significantly greater optimism regarding the former's prospects than the latter's.

Of the 29 analysts issuing opinions on CVX stock tracked by S&P Global Market Intelligence, 13 call it a Strong Buy, seven say Buy and nine rate it at Hold.

As for OXY, the Street's view is decidedly more mixed. Ten analysts call it a Strong Buy, three say Buy, 11 have it at Hold, one calls it a Sell and two say Strong Sell.

[ernie44]

dang good thing ---knew it had potential

[Mother Lode]

How can you rate something a hold when it's currently ($1.80) above your price target?

these guys kill me

[eastunder]

--Piper Sandler Adjusts Transocean Price Target to $3 From $1, Maintains Neutral Rating
9:14 AM ET, 03/07/2022 - MT Newswires
09:14 AM EST, 03/07/2022 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

[eastunder]

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

where will we be at $100 dollars a barrel. I see some futures are projecting $200 a barrel

We have been consolidating for 169 days now. Pivot 5.13
(Source: IBD/Marketsmith/Pattern recognition)

[Mother Lode]

One has to make the best of a shitty situation. To the war mangers.
Sic semper tyrannis

[eastunder]

I'm just in Awe this morning. Hate the reason but It's an amazing move.

[Montero_red]

Looks like it's going to be a wild ride tomorrow. Oil just broke $130....


Red

[surfer44]

Joe Biden’s Energy Secretary Jennifer Granholm Does Not Know How Many Barrels of Oil U.S. Uses per Day

CHARLIE SPIERING23 Nov 20212,595

President Joe Biden’s energy secretary, Jennifer Granholm, admitted Tuesday she did not know off the top of her head how many barrels of oil the United States economy consumes per day.

“I don’t have that number in front of me. I’m sorry,” she replied when asked about America’s daily oil consumption by CBS reporter Ed O’Keefe during the White House press briefing.

[surfer44]

Yes. 3 million.

" rel="nofollow" target="_blank">https://www.youtube.com/watch?v=

[Mother Lode]

"Transocean: A Great Call Option With A Perfect Storm Brewing"

https://seekingalpha.com/article/4493131-transocean-great-call-option-perfect-storm-brewing

[surfer44]

DAR would probably work. You just need 3 million of them!

" rel="nofollow" target="_blank">https://www.youtube.com/watch?v=

[eastunder]

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)

[eastunder]

It certainly makes flying easier!

[Montero_red]

Wow... It's alive. Lol


Red

[surfer44]

But they can do it cleanly.

[surfer44]

They discovered they need fossil fuels after all.

[Mother Lode]

"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

[eastunder]

RIG - Lovely Move today

[Mother Lode]

Brent North Sea crude 117 and change

[Mother Lode]

PPS up (6+) Percent to over 4.00

[Mother Lode]

Brent North Sea Crude is 104.97
https://oilprice.com/oil-price-charts/

They need to maintain and build

[ernie44]

in the north sea----they can make money on 75 dollar oil

[Mother Lode]

We need a reversal of the lease ban in the Gulf