Transocean Ltd. (RIG)

[eastunder]

Transocean Ltd. Shareholders Approve Acquisition of Songa Offshore SE

https://globenewswire.com/news-release/2018/01/18/1296623/0/en/Transocean-Ltd-Shareholders-Approve-Acquisition-of-Songa-Offshore-SE.html

STEINHAUSEN, Switzerland, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it concluded its extraordinary meeting of shareholders (“EGM”) approving all of the proposals related to the acquisition of Songa Offshore SE.

“We are extremely pleased that shareholders have overwhelmingly approved our acquisition of Songa Offshore,” said Jeremy Thigpen, President and CEO. “With this acquisition, we add to our industry leading backlog, providing more visibility to future earnings and cash flows. As importantly, we enhance our industry leading harsh environment fleet in the midst of a strengthening global harsh environment market.”

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership interests in, and operates a fleet of 39 mobile offshore drilling units consisting of 26 ultra-deepwater floaters, seven harsh environment floaters, two deepwater floaters and four midwater floaters. In addition, Transocean has three ultra-deepwater drillships under construction or under contract to be constructed. The company also operates two high-specification jackups that were under drilling contracts when the rigs were sold, and the company continues to operate these jackups until completion or novation of the drilling contracts.

For more information about Transocean, please visit: www.deepwater.com.