1 Nov 2021quarterly activities report▼ Bad
Transocean Ltd. reported quarterly revenue of $626.0 million and a net loss of $130.0 million for the period ended 2021-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Oct 2021production update● Neutral
Transocean published its routine October 25, 2021 fleet status report. Deepwater Atlas now shows a Beacon contract (start Q3 2022, 315,000 a day), Invictus shows BHP extensions at higher rates through May 2022, and Conqueror shows a Chevron extension (Jan-22 to Oct-22) at 335,000, well below its current 579,000. Estimated average dayrates are $327,000 for ultra-deepwater and $401,000 for harsh environment for Q4 2021. Deepwater Titan's Chevron contract (Q1 2023 to Q1 2028 at 455,000) is unchanged from the prior report.
3 Aug 2021quarterly activities report▼ Bad
Transocean Ltd. reported quarterly revenue of $656.0 million and a net loss of $103.0 million for the period ended 2021-06-30.
2 Aug 2021quarterly activities report▼ Bad
Transocean Ltd. reported quarterly revenue of $656.0 million and a net loss of $103.0 million for the period ended 2021-06-30.
22 July 2021production update● Neutral
Transocean published its routine July 21, 2021 fleet status report. Deepwater Titan's Chevron contract now runs Q1 2023 to Q1 2028 at $455,000 a day, reflecting the delay agreed in June. Discoverer Inspiration, idle since October 2020, now shows a Hess contract (Sep-21 to Apr-22) at $215,000, and Petrobras 10000 shows extensions to Oct 2023. Estimated average dayrates for Q3 2021 are $343,000 for ultra-deepwater and $378,000 for harsh environment rigs.
12 July 2021substantial holder notice● Neutral
BlackRock, Inc reported a Transocean Ltd. shareholding of 13,933,706 shares (2.30% of votes) in a periodic institutional filing.
28 June 2021director interest notice● Neutral
Transocean Ltd. director Frederik Wilhelm Mohn bought 1,000,000 shares on the open market at $4.53.
28 June 2021director interest notice● Neutral
Transocean Ltd. director Perestroika bought 1,000,000 shares on the open market at $4.53.
25 June 2021director interest notice● Neutral
Transocean Ltd. director Perestroika bought 2,000,000 shares on the open market.
25 June 2021director interest notice● Neutral
Transocean Ltd. director Frederik Wilhelm Mohn bought 2,000,000 shares on the open market.
24 June 2021substantial holder notice● Neutral
Frederik W. Mohn, Perestroika AS reported a Transocean Ltd. shareholding of 77,824,718 shares (12.60% of votes) in a periodic institutional filing.
23 June 2021director interest notice● Neutral
Transocean Ltd. director Saint Victor Diane De bought 10,000 shares on the open market at $4.18.
23 June 2021director interest notice● Neutral
Transocean Ltd. director Frederik Wilhelm Mohn bought 2,000,000 shares on the open market.
23 June 2021director interest notice● Neutral
Transocean Ltd. director Perestroika bought 2,000,000 shares on the open market.
21 June 2021director interest notice● Neutral
Transocean Ltd. director Perestroika bought 2,900,000 shares on the open market.
21 June 2021director interest notice● Neutral
Transocean Ltd. director Frederik Wilhelm Mohn bought 2,900,000 shares on the open market.
17 June 2021director interest notice● Neutral
Transocean Ltd. director Perestroika bought 5,000,000 shares on the open market.
17 June 2021director interest notice● Neutral
Transocean Ltd. director Frederik Wilhelm Mohn bought 5,000,000 shares on the open market.
15 June 2021material agreement▼ BadMajor
On June 14, 2021 Transocean set up an at-the-market programme with Jefferies LLC, letting it sell shares from time to time up to $400m at market prices, with a commission of up to 2.0%. The proceeds are for general corporate purposes, which may include repaying or refinancing debt. If used, this would issue new shares and dilute existing holders; the filing does not say how many will be sold. This may relate to the 46 million shares issued to a subsidiary in April, but the filing does not say so (inference).
14 June 2021securities registration● Neutral
Transocean Ltd. filed a prospectus supplement for an offering off its existing shelf.
7 June 2021debt financing▲ GoodMajor
Transocean agreed with the Jurong shipyard (Sembcorp Marine) to delay delivery of its two newbuild drillships: Deepwater Atlas to about December 2021 and Deepwater Titan to about Q2 2022 (the press release says May 2022). In return the shipyard will finance part of the remaining price at 4.5% a year: about $370m for Atlas and about $90m for Titan, repayable over up to six years after delivery. Atlas's financing is expected to be secured by a lien on the rig; Titan's is expected to be unsecured if it is delivered on schedule and starts its Chevron contract. The press release says this improves year-end 2022 liquidity by over $450m. It also says Atlas is expected to work for Beacon on Shenandoah from Q3 2022, subject to Beacon's investment decision by July 31, 2021, and Titan's Chevron operations are now expected to start in Q1 2023. This follows the earlier fleet reports, where Atlas had no contract and Titan's Chevron start was H1/H2 2022.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Frederik Wilhelm Mohn received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Frederico F. Curado received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Vincent J Intrieri received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Margareth Oevrum became a Transocean Ltd. director and company insider (initial ownership filing).
2 June 2021director interest notice● Neutral
Transocean Ltd. director Margareth Oevrum received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Saint Victor Diane De received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Samuel J. Merksamer received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Vanessa C L Chang received a stock option grant for 54,264 shares.
2 June 2021director interest notice● Neutral
Transocean Ltd. director Glyn Anthony Barker received a stock option grant for 54,264 shares.