Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 22, 2021, the company owned or had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater and 10 harsh environment floaters. It serves integrated oil companies, government-owned or government-controlled oil companies, and other independent oil companies. The company was founded in 1926 and is based in Steinhausen, Switzerland.
IPO Year:
Exchange: NYSE
Website: deepwater.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/7/2026 | $8.00 | Equal Weight → Overweight | Barclays |
| 2/18/2026 | $6.00 | Overweight → Equal Weight | Barclays |
| 2/10/2026 | $5.25 | Hold → Sell | Pareto |
| 12/10/2025 | Neutral → Underweight | Analyst | |
| 1/15/2025 | $6.00 → $5.00 | Outperform → In-line | Evercore ISI |
| 12/18/2024 | $4.50 | Equal Weight → Overweight | Barclays |
| 12/6/2024 | $5.00 | Underweight → Neutral | Analyst |
| 10/15/2024 | Buy → Hold | The Benchmark Company | |
| 9/12/2024 | Buy → Neutral | Citigroup | |
| 9/3/2024 | Hold → Buy | DNB Markets |
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NEW YORK, June 01, 2026 (GLOBE NEWSWIRE) -- Market News Updates News Commentary - Globally, there is a heightened focus on utilizing scientific methods to develop crucial mineral resources as countries aim to secure raw materials essential for various sectors like electric vehicles, renewable energy, AI infrastructure, semiconductors, aerospace, and defense technologies. Governments and private companies are increasingly adopting advanced geological modeling, AI-driven mineral exploration, precise drilling techniques, and environmentally friendly extraction methods to boost efficiency and reduce environmental impact. Minerals such as lithium, nickel, cobalt, copper, graphite, and rare ear
Gulfport Energy Corporation (NYSE:GPOR) ("Gulfport" or the "Company") today announced that Domenic "Nick" Dell'Osso, Jr. has been appointed President and Chief Executive Officer, effective May 28, 2026. "Nick is a highly respected proven leader with the strategic vision, financial discipline and operational expertise to propel Gulfport forward into its next chapter of value creation," said Timothy J. Cutt, Chairman of the Board. "He brings more than two decades of energy industry leadership and a track record of delivering attractive shareholder returns and leading through complex industry cycles. The Board is confident that Nick's expertise will serve Gulfport well, and we look forward t
STEINHAUSEN, Switzerland, May 04, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today reported financial results for the first quarter of 2026. The Company will host a conference call and webcast at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, May 5, 2026, with participation details included in this release. In addition, supplemental schedules have been posted to the Investors section of the Company's website at www.deepwater.com. FIRST QUARTER 2026 KEY POINTS Contract drilling revenues were $1.08 billion due in part to strong revenue efficiency(1) of 97.3%.Net income was $71 million or $0.06 per diluted share.Adjusted EBITDA was $440 million, with adjusted EBITDA margin exceeding 40%.
STEINHAUSEN, Switzerland, May 04, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs. UPDATES This quarter's report includes the following updates: Transocean Barents – Awarded a 1,095-day contract with Vår Energi ASA in Norway.Deepwater Orion – Awarded a 1,095-day contract extension with Petrobras in Brazil.Deepwater Aquila – Awarded a 365-day contract extension with Petrobras in Brazil.Deepwater Corcovado – Awarded a 1,156-day contract extension with Petrobras in Brazil.Deepwater Asgard – Awarded a five-well contract in the East
STEINHAUSEN, Switzerland, April 16, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced that the Deepwater Asgard was awarded a five-well contract in the Eastern Mediterranean Sea with an undisclosed operator. The estimated 390-day campaign is expected to commence in the fourth quarter of 2026 and contribute approximately $158 million in backlog, excluding additional services and compensation for mobilization and demobilization. Inclusive of the recently announced fixtures on the Transocean Barents in Norway, and the Deepwater Orion, Deepwater Aquila, and Deepwater Corcovado in Brazil, total backlog additions approximate $1.6 billion since the beginning of A
STEINHAUSEN, Switzerland, April 14, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced that the Deepwater Corcovado was awarded a 1,156-day contract extension with Petrobras in direct continuation of its current activity. The extension is expected to contribute approximately $445 million in incremental backlog and commit the rig through November 2030. Prior to the extension period, from April 1, 2026, until the commencement of the new contract in September 2027 (approximately 525 days), the existing backlog will be reduced by approximately $20 million. About Transocean Transocean is a leading international provider of offshore contract drilling services f
STEINHAUSEN, Switzerland, April 02, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced awards of a contract for a harsh environment semisubmersible in Norway and contract extensions for two ultra-deepwater drillships in Brazil. In aggregate, the fixtures represent approximately $1.0 billion in incremental firm contract backlog, as follows. The Transocean Barents was awarded a 1,095-day contract with Vår Energi ASA in Norway at a rate of $450,000 per day, excluding additional services. The program is anticipated to commence by the middle of the second quarter of 2027 and is expected to contribute approximately $490 million in backlog, excluding compensation
STEINHAUSEN, Switzerland, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today reported financial results for the fourth quarter and full year of 2025. The Company will hold a conference call and webcast at 9 a.m. EST, 3 p.m. CET, on Friday, February 20, 2026, to discuss the results, with participation details included in this release. In addition, supplemental slides have been posted to the Investors section of the Company's website at www.deepwater.com. 2025 KEY POINTS Operating revenues were $3.965 billion, up 13% from $3.524 billion in 2024.Revenue efficiency(1) was 96.5%, up from 94.5%.Net loss attributable to controlling interest was $2.915 billion, $3.04 per diluted
STEINHAUSEN, Switzerland, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs. UPDATES This quarter's report includes the following updates: Transocean Barents – Customer exercised a one-well option in Romania at a dayrate of $480,000.Deepwater Mykonos – Awarded a three-well contract with bp in Brazil.Deepwater Mykonos – Customer exercised a 90-day option in Brazil.Deepwater Skyros – Awarded a six-well contract in Australia plus options up to an incremental 900 days.Transocean Enabler – Customer awarded three fixtures for
STEINHAUSEN, Switzerland, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) ("Transocean") today announced contract fixtures for two of its harsh environment semisubmersibles in Norway. In aggregate, the fixtures represent approximately $184 million in firm contract backlog. The Transocean Encourage was awarded a seven-well contract extension. The estimated 365 days of work is expected to commence in the first quarter of 2027 in direct continuation of the rig's current program and contribute approximately $152 million in backlog, excluding additional services. Two one-well options have been exercised for the Transocean Enabler in direct continuation of the rig's current activi
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4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
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4 - Transocean Ltd. (0001451505) (Issuer)
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4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
4 - Transocean Ltd. (0001451505) (Issuer)
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8-K - Transocean Ltd. (0001451505) (Filer)
8-K - Transocean Ltd. (0001451505) (Filer)
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Barclays upgraded Transocean from Equal Weight to Overweight and set a new price target of $8.00
Barclays downgraded Transocean from Overweight to Equal Weight and set a new price target of $6.00
Pareto downgraded Transocean from Hold to Sell and set a new price target of $5.25
Analyst downgraded Transocean from Neutral to Underweight
Evercore ISI downgraded Transocean from Outperform to In-line and set a new price target of $5.00 from $6.00 previously
Barclays upgraded Transocean from Equal Weight to Overweight and set a new price target of $4.50
Analyst upgraded Transocean from Underweight to Neutral and set a new price target of $5.00
The Benchmark Company downgraded Transocean from Buy to Hold
Citigroup downgraded Transocean from Buy to Neutral
DNB Markets upgraded Transocean from Hold to Buy
Live Leadership Updates
Gulfport Energy Corporation (NYSE:GPOR) ("Gulfport" or the "Company") today announced that Domenic "Nick" Dell'Osso, Jr. has been appointed President and Chief Executive Officer, effective May 28, 2026. "Nick is a highly respected proven leader with the strategic vision, financial discipline and operational expertise to propel Gulfport forward into its next chapter of value creation," said Timothy J. Cutt, Chairman of the Board. "He brings more than two decades of energy industry leadership and a track record of delivering attractive shareholder returns and leading through complex industry cycles. The Board is confident that Nick's expertise will serve Gulfport well, and we look forward t
STEINHAUSEN, Switzerland, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today announced its plan for key leadership changes pursuant to the company's multi-year succession planning strategy. As part of this plan, Keelan Adamson, the company's President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the company's 2025 annual general meeting of shareholders. Mr. Thigpen
OKLAHOMA CITY, Oct. 1, 2024 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE:SD) today announced changes to the Board and Management that will further position the Company to execute on its strategy. Vincent ("Vince") Intrieri has been appointed by the Board, by recommendation of the Nominating and Governance Committee, as Chairman effective October 1, 2024. Mr. Intrieri is the Founder and CEO of VDA Capital Management LLC, a private investment fund founded in 2017. Mr. Intrieri was previously employed by Carl C. Icahn-related entities in various inv
HOUSTON, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE:ORN) (the "Company"), a leading specialty construction company, announced today the appointment of Edward Chipman ("Chip") Earle as Executive Vice President, General Counsel, Chief Administrative Officer, Chief Compliance Officer and Corporate Secretary, effective November 27th. Mr. Earle will succeed Executive Vice President Peter R. Buchler, who is retiring from Orion after 15 years of service. Mr. Earle joins Orion from Newpark Resources, Inc. (NYSE:NR), a service provider to the industrial and energy sectors, where he was Vice President - General Counsel, Chief Administrative Officer, Chief Compliance Offi
DUBAI, UAE, May 8, 2023 /PRNewswire/ -- Borets International Limited, a global leader in artificial lift engineering, manufacturing, sales, and servicing of electric submersible pumps (ESP), announced the growing and evolving Company has undergone restructuring to reach this exciting juncture where the international business is a distinct and separate division. Accordingly, the rebranding of the company to Levare International Limited (Levare or Company) better aligns with the forward-thinking mindset of new leadership. This change reflects our growing portfolio of artificial lift solutions offered to our global clients within the oil & gas, mining, geothermal and municipal industries.
Kathleen McAllister is a seasoned CEO, CFO and Board Director who has held diverse leadership roles in global, capital-intensive companies in the energy value chain, including at Black Hills Corp. (NYSE:BKH), Höegh LNG Partners LP (NYSE:HMLP) and Transocean Partners LLC (NYSE:RIGP)McAllister's appointment – together with earlier appointments of Sheila Khama, Amelia Kinahoi Siamomua and Gina Stryker – brings 50-50 gender parity to TMC's boardroom. With just three percent of S&P 500 companies' boards comprised of 50 percent or more women today, TMC is joining a small but rapidly growing number of companies delivering on gender parity goals NEW YORK, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The Met
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STEINHAUSEN, Switzerland, May 04, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today reported financial results for the first quarter of 2026. The Company will host a conference call and webcast at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, May 5, 2026, with participation details included in this release. In addition, supplemental schedules have been posted to the Investors section of the Company's website at www.deepwater.com. FIRST QUARTER 2026 KEY POINTS Contract drilling revenues were $1.08 billion due in part to strong revenue efficiency(1) of 97.3%.Net income was $71 million or $0.06 per diluted share.Adjusted EBITDA was $440 million, with adjusted EBITDA margin exceeding 40%.
STEINHAUSEN, Switzerland, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) today reported financial results for the fourth quarter and full year of 2025. The Company will hold a conference call and webcast at 9 a.m. EST, 3 p.m. CET, on Friday, February 20, 2026, to discuss the results, with participation details included in this release. In addition, supplemental slides have been posted to the Investors section of the Company's website at www.deepwater.com. 2025 KEY POINTS Operating revenues were $3.965 billion, up 13% from $3.524 billion in 2024.Revenue efficiency(1) was 96.5%, up from 94.5%.Net loss attributable to controlling interest was $2.915 billion, $3.04 per diluted
Creates the world's highest-quality, highest-specification offshore drilling fleet Companies to host conference call today at 8 a.m. CT / 9 a.m. ET STEINHAUSEN, Switzerland and HAMILTON, Bermuda, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) and Valaris Limited (NYSE:VAL) today announced the signing of a definitive agreement to combine the two companies under which Transocean will acquire Valaris in an all-stock transaction valued at approximately $5.8 billion (all currency in USD). The shareholding percentages of the combined company, on a fully diluted basis1, will be approximately 53% for Transocean and 47% for Valaris. The enterprise value of the pro forma company is a
Three months ended Three months ended September 30, June 30, sequential September 30, year-over-year 2025 2025 change 2024 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$1,028 $988 $40 $948 $80 Revenue efficiency(1) 97.5 % 96.6 % 94.5 % Operating and maintenance expense$584 $599 $15 $563 $(21) Net loss attributable to controlling interest$(1,923) $(938) $(985) $(494) $(1,429) Basic loss per share$(2.00) $(1.06) $(0.94) $(0.56) $(1.44) Diluted loss per share$(2.00) $(1.06) $(0.94) $(0.58) $(1.42) Adjusted EBITDA$397 $344 $53 $342 $55 Adju
Three months ended Three months ended June 30,2025 March 31,2025 sequentialchange June 30,2024 year-over-yearchange(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$988 $906 $82 $861 $127 Revenue efficiency (1) 96.6 % 95.5 % 96.9 % Operating and maintenance expense$599 $618 $19 $534 $(65)Net loss attributable to controlling interest$(938) $(79) $(859) $(123) $(815)Basic loss per share$(1.06) $(0.09) $(0.97) $(0.15) $(0.91)Diluted loss per share$(1.06) $(0.11) $(0.95) $(0.15) $(0.91) Adjusted EBITDA$344 $244 $100 $284 $60 Adjusted EBITDA margin 3
Three months ended Three months ended March 31, December 31, sequential March 31, year-over-year 2025 2024 change 2024 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$906 $952 $(46) $763 $143 Revenue efficiency (1) 95.5% 93.5% 92.9% Operating and maintenance expense$618 $579 $(39) $523 $(95)Net income (loss) attributable to controlling interest$(79) $7 $(86) $98 $(177)Basic earnings (loss) per share$(0.09) $0.01 $(0.10) $0.12 $(0.21)Diluted earnings (loss) per share$(0.11) $(0.11) $— $0.11 $(0.22) Adjusted EBITDA$244 $323 $(79) $199 $45 Adjusted EBITDA margin 26.9% 33.9% 26.0% Ad
STEINHAUSEN, Switzerland, April 17, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that, due to a scheduling conflict, it is changing the time of its first quarter 2025 earnings call. It will now conduct the teleconference starting at 10 a.m. EDT, 4 p.m. CEST, on Tuesday, April 29, 2025. As previously announced, the company's first quarter 2025 earnings will be reported on Monday, April 28, with the teleconference scheduled on Tuesday, April 29. Individuals who wish to participate in the call should dial +1 785-424-1619 approximately 15 minutes prior to the scheduled 10 a.m. EDT start time and refer to conference code 119877. The teleconference will be simulcast in a
STEINHAUSEN, Switzerland, April 10, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the first quarter 2025 on Monday, April 28, 2025. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, April 29, 2025. Individuals who wish to participate should dial +1 785-424-1619 approximately 15 minutes prior to the scheduled start time and refer to conference code 119877. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EDT, 6 p.m. CEST, on Apri
Three months ended Three months ended December 31, September 30, sequential December 31, year-over-year 2024 2024 change 2023 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$952 $948 $4 $741 $211 Adjusted contract drilling revenues$952 $948 $4 $748 $204 Revenue efficiency (1) 93.5% 94.5% 97.0% Operating and maintenance expense$579 $563 $(16) $569 $(10)Net income (loss) attributable to controlling interest$7 $(494) $501 $(104) $111 Basic earnings (loss) per share$0.01 $(0.56) $0.57 $(0.13) $0.14 Diluted loss per share$(0.11) $(0.58) $0.47 $(0.13) $0.02 Adjusted EBITDA$323 $3
STEINHAUSEN, Switzerland, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that it will report earnings for the fourth quarter and full year 2024 on Monday, February 17, 2025. The company will conduct a teleconference to discuss the results starting at 9 a.m. EST, 3 p.m. CET, on Tuesday, February 18, 2025. Individuals who wish to participate should dial +1 785-424-1116 approximately 15 minutes prior to the scheduled start time and refer to conference code 540196. The teleconference will be simulcast in a listen-only mode at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the conference call will be available after 12 p.m. EST, 6 p.m
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