Transocean Says Nigerian Operations Disrupted by Strike

Transocean Inc. reported that drilling operations have ceased on four of its mobile offshore drilling units located offshore Nigeria due to a strike that commenced on April 16 on the semisubmersible M.G. Hulme, Jr. and on April 19 on the semisubmersible Sedco 709 and the jackups Trident VI and Trident VIII by local members of the National Union of Petroleum and Natural Gas Workers (NUPENG). The strike was allegedly called to protest the continuation of disciplinary proceedings against certain personnel belonging to NUPENG. The company is attempting to resolve the labor stoppage. At this time it cannot estimate the possible length of the strike or its financial impact.