NEW YORK, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Transocean Ltd. (“Transocean” or the “Company”) (NYSE: RIG) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Transocean securities between October 31, 2023 and September 2, 2024, both dates inclusive (the “Class Period”). Inve ...

NEW YORK, Dec. 30, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of Transocean Ltd. (NYSE: RIG) securities between October 31, 2023 and September 9, 2024, both dates inclusive (the "Class Period"). A class action has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 24, 2025.So What: If you purchased Transocean securities during the Class Period you may ...

NEW YORK, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the “Class”) who purchased or acquired the securities of Transocean Ltd. (“Transocean” or the “Company”) (NYSE: RIG) between October 31, 2023 and September 2, 2024, inclusive. For more information, submit a form at Transocean Ltd. Shareholder Class Action Lawsuit, email Investor Relations Manager Peter Allocco at pallocco@bernlieb.com, or call us ...

NEW YORK, Dec. 29, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Transocean Ltd. (“Transocean” or “the Company”) (NYSE: RIG) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Transocean s ...

Transocean Ltd. (RIG) recently announced its $111 million contract extension with India-based Reliance Industries Limited, secured for its deepwater drillship, Dhirubhai Deepwater KG1. The contract lays down a 270-day program that will commence immediately after the existing contract. The immediate continuation of drillship services after the existing contract will minimize the idle time of the rig, enhance operational efficiency, optimize the rig’s utilization and strengthen Transocean’s foothold in the As ...

STEINHAUSEN, Switzerland, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that a four-well option was exercised for the Dhirubhai Deepwater KG1 with Reliance Industries Limited in India. The estimated 270-day program is expected to commence in direct continuation of the rig’s firm term with Reliance and contribute approximately $111 million in backlog, excluding additional services. About Transocean Transocean is a leading international provider of offshore contr ...

Core Insights - Transocean's management provided commentary on the company's quarterly results, highlighting their outlook and future expectations [1]. Group 1 - The focus of the analysis is on management's outlook and comments regarding the company's performance [1].

Transocean (NYSE: RIG ) is one of the leading oil rigs owners. Investors dislike it because of its leveraged balance sheet. RIG is the only company that has survived the previous market cycle. However, there is a reason for that. Transocean made it becauseI am a voracious reader and self-taught investor. In the past, I was an accountant in the maritime industry. Now, I am a happy retiree passionate about writing and financial markets. As the kids are grown up, I have time to pursue my endeavors: growing my ...

Core Insights - Transocean Ltd. reported breakeven adjusted earnings per share for Q3 2024, surpassing the Zacks Consensus Estimate of a loss of 4 cents and improving from a loss of 36 cents in the prior year [1] - Total adjusted revenues reached $948 million, exceeding the Zacks Consensus Estimate of $936 million and reflecting a 31.5% increase from $721 million in the previous year [2] Revenue Performance - Revenues from Ultra-deepwater floaters contributed $668 million, while Harsh Environment floaters accounted for $280 million, both showing significant year-over-year growth from $516 million and $197 million, respectively [4] - Ultra-deepwater revenues surpassed the model projection of $684 million, and harsh environment revenues exceeded the projection of $256.2 million [4] Segmental Revenue Breakdown - Ultra-deepwater floaters represented 70.5% of net contract drilling revenues, while Harsh Environment floaters made up 29.5% [3] Operational Metrics - Average day rates increased to $436,800 from $391,300 in the year-ago quarter, although this figure fell short of the Zacks Consensus Estimate of $491,300 [5] - Fleet utilization rate improved to 63.9% from 49.4% in the prior year [6] Cost and Financials - Total costs and expenses were reported at $800 million, a 5.3% increase from $760 million in the previous year [7] - Cash and cash equivalents stood at $435 million as of September 30, 2024, with long-term debt at $6.5 billion and a debt-to-capitalization ratio of 38.9% [7] Future Guidance - Management anticipates contract drilling revenues for Q4 2024 to be between $950 million and $970 million, with additional revenues from services expected to be $55 million to $60 million [9][10] - For 2025, contract drilling revenues are projected to be between $3.85 billion and $4 billion, with additional services expected to contribute $220 million to $230 million [13] Expense Projections - Fourth-quarter O&M expenses are expected to be approximately $585 million, reflecting an increase due to deferred maintenance costs [11] - General and administrative expenses are projected to be between $50 million and $55 million [12] Long-term Financial Strategy - The company aims for a debt reduction target of $715 million by 2026, with a goal to reduce gross debt to around $6.2 billion [16] - A leverage ratio target of below 3.5x is set as a prerequisite for considering shareholder distributions [16]

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...