pabst_ell Transocean Ltd. (NYSE:RIG) is set to finish 2023 with an impressive gain, returning nearly 50%. Despite volatile conditions in the energy market, the understanding is that this segment of offshore drilling services remains in a "multi-year upcycle" as exploration and production giants add spending to replace hydrocarbon reserves. The company is benefiting from a fleet transformation by focusing on its strengths in ultra-deepwater and "harsh environment" offshore drilling floaters. In many ways ...

Transocean Ltd. (NYSE:RIG) Q3 2023 Earnings Conference Call October 31, 2023 9:00 AM ET Company Participants Alison Johnson - Director of Investor Relations Jeremy Thigpen - Chief Executive Officer Mark Mey - Executive Vice President & Chief Financial Officer Roddie Mackenzie - Executive Vice President & Chief Commercial Officer Conference Call Participants Greg Lewis - BTIG Eddie Kim - Barclays Kurt Hallead - Benchmark David Smith - Pickering Energy Partners Scott Gruber - Citigroup Fredrik Stene - Clarkso ...

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) Commission file number 001-38373 Transocean Ltd. (Exact name of registrant as specified in its charter) Switzerland 98-05 ...

Transocean Ltd. (NYSE:RIG) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET Company Participants Alison Johnson - Director-IR Jeremy Thigpen - CEO Mark Mey - EVP and CFO Roddie Mackenzie - EVP and Chief Commercial Officer Conference Call Participants Kurt Hallead - Benchmark Eddie Kim - Barclays Greg Lewis - BTIG Fredrik Stene - Clarksons Securities Operator Good day, everyone, and welcome to today’s Q2 2023 Transocean's Earnings Call. [Operator Instructions] Please note this call maybe recorded. ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 001-38373 Transocean Ltd. (Exact name of registrant as specified in its charter) Switzerland 98-0599916 ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

Transocean Ltd. (NYSE:RIG) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants Alison Johnson – Director-Investor Relations Jeremy Thigpen – Chief Executive Officer Keelan Adamson – President and Chief Operating Officer Mark Mey – Executive Vice President and Chief Financial Officer Roddie Mackenzie – Executive Vice President and Chief Commercial Officer Conference Call Participants James West – Evercore ISI Thomas Johnson – Morgan Stanley Eddie Kim – Barclays David Smith – Pickerin ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 001-38373 Transocean Ltd. (Exact name of registrant as specified in its charter) Switzerland 98-059991 ...

Financial Data and Key Metrics Changes - For Q4 2022, Transocean reported adjusted EBITDA of $140 million on adjusted revenue of $625 million, resulting in an adjusted EBITDA margin of approximately 20% [5][28] - The company ended Q4 2022 with a total liquidity of approximately $1.8 billion, including unrestricted cash of approximately $683 million [29][34] - The net loss attributable to controlling interest was $350 million or $0.48 per diluted share, with an adjusted net loss of $356 million [28][30] Business Line Data and Key Metrics Changes - Adjusted contract drilling revenues for Q4 2022 were approximately $625 million, with an average day rate of $349,000, exceeding guidance due to more operating days and higher-than-expected recharge revenue [29][30] - Operating and maintenance expenses for Q4 2022 were $423 million, below guidance due to lower in-service maintenance expenses [29] Market Data and Key Metrics Changes - Active drillship utilization is expected to remain at or above 97% for the next two years, with demand for rigs and services anticipated to remain elevated [19][20] - Brazil is leading incremental demand for offshore drilling services, with potential for up to 19 floater awards, driving higher day rates which have increased by 117% from 2020 to 2022 [21][22] Company Strategy and Development Direction - The company is focused on maintaining a disciplined approach to rig reactivations, ensuring that contracts cover reactivation costs and provide suitable returns [39][41] - Transocean is investing in deep-sea mineral exploration, diversifying its operations and contributing to a lower carbon economy [10][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the offshore drilling industry's recovery, with expectations for increased drilling activity and day rates [25][26] - The company anticipates that the number of wells drilled offshore will increase by nearly 15% in 2023, with Brazil expected to remain a significant source of demand [20][21] Other Important Information - The company has secured $1.5 billion in backlog during Q4 2022, bringing the full year backlog added to approximately $4 billion [6] - Transocean has taken several liability management actions to improve liquidity, including extending credit facilities and refinancing senior notes [27][28] Q&A Session Summary Question: What is Transocean's position on rig reactivations? - Management clarified that reactivations will only occur if customers cover the costs and provide suitable returns, potentially leading to a later reactivation compared to peers [39][40] Question: How is the harsh environment market developing? - Management noted that several rigs have moved out of Norway to other regions, and they expect to see increased demand for high-efficiency drilling packages in South America [44][45] Question: What is the outlook for multi-year contracts from majors? - Management indicated that while Petrobras is moving quickly to secure rigs, they expect majors to also begin locking in multi-year contracts as supply diminishes [48][49] Question: Are there expected increases in operational costs? - Management acknowledged that inflation and a tight labor market are leading to cost increases in the range of 5% to 8% for offshore crews and operational expenses [50][51] Question: What is the strategy for managing the balance sheet? - Management emphasized the goal of simplifying the balance sheet and using organic cash flows to deleverage, focusing on reducing various types of debt over time [55][56]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 001-38373 TRANSOCEAN LTD. (Exact name of registrant as specified in its charter) Switzerland 98-0599916 (St ...

Transocean Ltd (NYSE:RIG) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Company Participants Alison Johnson - IR Jeremy Thigpen - CEO & Executive Director Mark Mey - EVP & CFO Roddie Mackenzie - EVP & Chief Commercial Officer Conference Call Participants Thomas Johnson - Morgan Stanley Fredrik Stene - Clarksons Securities Karl Blunden - Goldman Sachs Operator Good day, everyone, and welcome to today's Q3 2022 Transocean Earnings Conference Call. [Operator Instructions]. It is now my pleasure ...