Transocean Acquires Remaining Interest in Deepwater Frontier

Transocean Inc. reports that a subsidiary has purchased ConocoPhillips' 40% interest in the Deepwater Frontier joint venture, Deepwater Drilling II L.L.C. The company already owns the other 60% interest in the joint venture, which is a party to a lease-financing arrangement for the drillship. The Deepwater Frontier joint venture will now be consolidated with Transocean's financial statements and the related lease obligation will be reflected on Transocean's balance sheet.

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $50.27/BBL 1.04%
Light Crude Oil : $46.78/BBL 1.61%
Natural Gas : $2.89/MMBtu 1.70%
Updated in last 24 hours