Transocean Ltd. Company News
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Oil's Biggest Rigs Headed to Junkyard as Daily Losses Mount
Wednesday, October 18, 2017 Transocean's recent move signals just how bleak the future looks for deepwater drilling.
Transocean To Buy Norwegian Rig Firm Songa Offshore For $1.1B
Tuesday, August 15, 2017 Transocean has agreed to buy Norwegian competitor Songa Offshore for $1.1 billion.
Borr Drilling Signs Deal With Transocean to Buy 15 Rigs
Monday, March 20, 2017 Borr Drilling Limited signs a deal with Transocean for the acquisition of 15 high-specification jack-up rigs.
Newcomer Borr Scoops Up Transocean Rigs For $1.4B As Dealmaking Heats Up
Monday, March 20, 2017 Borr Drilling, founded by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water drilling rigs for $1.35 billion.
Transocean, Atwood Oceanics Lay Off 200 Offshore Workers in Texas
Monday, February 06, 2017 Transocean and Atwood Oceanics are laying off employees who work offshore Gulf of Mexico.
Oil, Gas Companies Lay Off More Workers in Texas
Wednesday, January 18, 2017 Transocean and Swift Energy report they will be laying off a total of 136 workers in Texas.
GE to Transform Transocean Rigs for Condition-Based Maintenance
Friday, January 13, 2017 Through a new service agreement, GE will digitally upgrade seven Transocean rigs for conditional-based monitoring and maintenance.
Hurricane Energy Confirms Halifax Prospect Well
Monday, November 28, 2016 UK-based oil and gas company Hurricane Energy confirms it will drill the offshore UK Halifax prospect after the completion of the Lincoln well.
SNP Calls for more Emergency Towing Vessels Following Transocean Incident
Wednesday, November 23, 2016 The Scottish National Party has labelled the UK government's decision to leave Scotland with one emergency towing vessel as "dangerous".
At $500 Million A Pop, It's An Oil Gamble That Has No Precedent
Tuesday, September 20, 2016 In a far corner of the Caribbean Sea, billions of dollars worth of the world's finest oil equipment bobs quietly in the water.
DSME Delivers Newbuild Ultra Deepwater Drillship to Transocean
Friday, August 26, 2016 South Korea's Daewoo Shipbuilding & Marine Engineering delivers an ultra deepwater drillship, possibly Deepwater Conqueror, to Transocean.
Transocean Working to Recover Stranded Rig
Monday, August 15, 2016 Transocean is working closely with authorities to recover its grounded rig as "expeditiously and safely as possible," says Transocean’s operations director for Northwest Europe, Dave Walls.
Transocean Winner Rig Loses Tow, Blown Ashore After Severe Weather
Monday, August 08, 2016 The Transocean Winner oil rig has grounded off the Western Isles of Scotland after losing its tow during severe weather.
Transocean Posts Unexpected Profit Thanks To More Cost Cuts
Thursday, August 04, 2016 Transocean surprises analysts by slashing its way to profitability in the second quarter as the world's largest owner of offshore rigs tries to keep up with dwindling drilling demand from explorers.
Transocean Buying Transocean Partners in $1.6B Deal
Monday, August 01, 2016 Analysts say acquisition is a step in the right direction, but not necessarily a "game changer."
OTC 2016: Survival 101 - Don't Forget About the Young Folks
Thursday, May 05, 2016 Oil and gas leaders stress the importance of maintaining their talent pipelines amid the industry's downturn.
Transocean Bags Deal for Actinia to Drill Offshore India for ONGC
Friday, April 22, 2016 Transocean bags a three year contract from ONGC for the Actinia semisub to work offshore India.
Transocean, Jurong Shipyard Reach Deal to Defer Delivery of 2 Drillships
Wednesday, April 20, 2016 Transocean reaches agreement with Jurong Shipyard to defer delivery of two ultra deepwater drillships.
Providence Resources in Talks with Creditor after $7M Judgement
Wednesday, April 13, 2016 Irish oil explorer Providence Resources is in talks with its main creditor to ensure it has sufficient resources to fulfil a court order to pay $7 million to drilling provider Transocean.
Transocean, Schlumberger See Oil Industry Recovery Delayed
Tuesday, March 22, 2016 Leaders of the world's largest suppliers of offshore drilling rigs and the services that go with them see the oil market recovery taking even longer than expected last year.
Transocean Defeats US Shareholder Appeal Over Gulf Spill
Thursday, March 17, 2016 Transocean won the dismissal of an appeal by shareholders accusing the owner of the Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the 2010 Gulf of Mexico oil spill.
Oil, Gas Companies to Lay Off Hundreds More in Texas
Monday, March 14, 2016 C&J Energy Services and other oil and gas companies reduce their workforce to manage the oil glut.
Moody's Downgrades Offshore Drillers, Including Ensco, Transocean
Tuesday, March 01, 2016 Offshore drilling contractors likely to struggle through at least 2018, Moody's Investors Service says in a new report.
Transocean Gets Early Termination Notice for GSF Development Driller I
Wednesday, February 24, 2016 Esso Exploration Angola serves notice of early termination for the GSF Development Driller I, with the contract for the semisub to end in May.
Offshore Driller Transocean Posts 4Q Profit
Wednesday, February 24, 2016 Transocean posts a fourth-quarter profit, compared with a loss a year earlier, when it booked $1.21 billion in impairment charges.
Oil, Gas Companies Lay Off Hundreds More Texas Workers
Tuesday, February 16, 2016 As difficult market conditions continue, two more oil and gas companies announce layoffs in Texas.
Transocean-Murphy Deepwater Rig Cancellation Highlights Deepwater Cutbacks
Monday, February 08, 2016 Deepwater contracts drying up as Murphy, other E&Ps, opt out of expensive offshore drilling.
Shell Terminates Deal for Transocean Polar Pioneer Prior to Contract Expiry
Monday, December 28, 2015 Shell terminates contract for the Transocean Polar Pioneer semisub prior to its expiry in July 2017.
Transocean's Norway Deal Marks New Rig-Rate Low in Oil Slump
Tuesday, December 01, 2015 Transocean won a contract to drill four wells off Norway for Det Norske at a day rate of about $180,000, the lowest recorded tariff in the Nordic country since oil began to tumble last year.
Rig 'Graveyard' Looms as Statoil Cuts North Sea Drillers Loose
Tuesday, November 03, 2015 The pressure is building on North Sea drillers starved of contracts as Statoil deepens cuts in investment to cope with a collapse in crude prices.
Transocean Delays Deliveries Of Two New Drillships
Monday, October 26, 2015 Transocean agrees with customer Shell EP Wells Equipment Wells Services BV and shipyard Daewoo Shipbuilding & Marine Engineering Co to delay contracts of two new ultra-deepwater drillships by 12 months.
India Draws Attention from Drilling Firms; Focuses on ONGC Tender
Tuesday, September 29, 2015 Drilling firms show keen interest in the Indian market, with attention focused in a tender by state-owned ONGC, local media says.
Transocean Mentioned in Petrobras Carwash Corruption Probe
Friday, September 25, 2015 Transocean is being linked for the first time to the corruption probe of Petrobras, the state-owned energy giant at the center of Brazil's biggest corporate scandal.
Transocean Suspends Quarterly Dividends For 2015
Tuesday, August 25, 2015 Fighting challenges to battered offshore drilling environment, Transocean halts quarterly dividends for the next two quarters.
Oil Rigs Left Idling Turn Caribbean Into Expensive Parking Lot
Thursday, July 23, 2015 The Gulf of Mexico and the Caribbean Sea have become a garage for deepwater drillships - at a cost of about $70,000 a day each. It's either that or send your precious rig to a scrapyard.
Oil Service Firms Jostle For India Orders Amid Global Spending Cuts
Thursday, July 09, 2015 Oilfield services firms are scrambling for contracts from India, which has emerged as a rare bright spot for the sector hardest hit by a slump in global crude oil prices.
Transocean Appoints Mey as New CFO
Wednesday, May 27, 2015 Esa Ikaheimonen is stepping down as Transocean's executive vice president and chief financial officer effective immediately.
Statoil Comes up Dry at 2 Norwegian Sea Wells
Friday, May 22, 2015 Statoil drills two dry wells in the Norwegian Sea.
Norwegian Oil Drillers Call in Mediator after Wage Talks Fail
Friday, May 22, 2015 Wage talks involving thousands of Norwegian offshore oil workers break down, raising the risk of a strike that could disrupt oil exploration and efforts to raise production.
BP Settles Oil Spill-Related Claims With Halliburton, Transocean
Wednesday, May 20, 2015 BP has settled with Halliburton and Transocean cross claims related to the 2010 Gulf of Mexico oil spill.
Offshore Driller Transocean Swings To Loss On Falling Revenue
Wednesday, May 06, 2015 Transocean reported a first-quarter loss as E&P companies rent out fewer of its rigs because of tumbling crude prices.
Transocean Names New CEO
Tuesday, April 21, 2015 Transocean announces that Jeremy D. Thigpen has been named President and Chief Executive Officer effective April 22.
Transocean Names Interim CEO, Speculation About Board Chairman
Thursday, April 16, 2015 Transocean is moving its board chairman into an interim CEO role; former chief at National Oilwell Varco, Pete Miller, is expected to take over as chairman at May investors meeting.
Transocean Takes $992M Charge On Drilling Business As Oil Slumps
Thursday, February 26, 2015 Transocean writes down the value of its contract drilling business by $992 million as demand slumps due to lower oil prices.
Top Oil Drillers Face Years Of Pain, Get A Grip On Cost
Thursday, February 26, 2015 The world's biggest offshore drillers reports plunging earnings and orders but manages to get a grip on costs to improve their chances of riding out a sectoral crisis that could last.
Transocean Shares Poised For Big Move After Results
Tuesday, February 24, 2015 Transocean shares are expected to move about 8% in either direction following its earnings results.
Transocean CEO's Exit Linked To Lack Of Vision In Tough Market
Friday, February 20, 2015 People inside and outside of Transocean say Newman's abrupt departure reflected in part the board's view that the 20-year company veteran was too conservative and lacked a bold vision.
Transocean Names Ian Strachan Interim CEO as Steven Newman Leaves Company
Monday, February 16, 2015 Transocean appoints chairman Ian Strachan as interim CEO to take over from Steven Newman.
In Battered Oil Services Sector, Smallest Look Weakest
Friday, January 23, 2015 Slammed by plunging oil prices, oil services companies face a bleak outlook of cutbacks and contract cancellations.
Judge Favors Providence in Transocean Dispute
Monday, December 22, 2014 Ireland's Providence Resources wins a case related to costs made against it by drilling firm Transocean.