Transocean Ltd. (RIG)

[Mother Lode]

Well, I gave the transcript a quick once-over and I didn't see any change in the guidance for the second half of 23. However, they did talk about increasing day rates over the next 12 months. and improving conditions (future operations) based on demand for energy and the supply of these platforms. They frequently speak of day rates going to 500K and beyond.
So, to me (I'm no expert) if day rates continue up and utilization rates increase, and debt is converted to stock (based on PPS). Revenue should go up proportionately.

" in the second quarter of 2023, our average day rate was approximately $363,000 per day versus $312,000 per day in the second quarter of 2022. And based on existing backlog by the second quarter of 2024, we expect it to approximate $433,000 per day."