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Friday, 11/01/2024 7:20:12 AM

Friday, November 01, 2024 7:20:12 AM

Post# of 4224
"Transocean Ltd (RIG) Q3 2024 Earnings Call Highlights: Navigating Challenges with Strong ..."

https://finance.yahoo.com/news/transocean-ltd-rig-q3-2024-070902433.html

Q & A Highlights

Q: What are your expectations on the trajectory of day rates for next year, considering the utilization headwinds faced by your peers?

A: Roddie Mackenzie, EVP & Chief Commercial Officer, explained that Transocean's average fixture for their 1,400-tonne class and above in 2024 has been around 520, firmly in the 500s. He noted that while there might be soft spots, many programs run longer than expected, and direct negotiations often occur. Jeremy Thigpen, CEO, added that Transocean's 1,250-tonne rigs are on longer-term contracts, and the 1,400-tonne and 1,700-tonne rigs have consistently secured contracts at premium day rates, even during downturns.
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