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Hot Stocks
Transocean announces $1.04B contract award for ultra-deepwater drillships » 17:34
12/07/22
12/07
17:34
12/07/22
17:34
RIG

Transocean

$3.69 /

-0.175 (-4.53%)

Transocean…

Transocean "announced awards for its ultra-deepwater drillships, Deepwater Corcovado and Deepwater Orion, for work offshore Brazil with a national oil company. Together the two contracts represent approximately $1.04B in firm backlog. Deepwater Corcovado was awarded a four-year contract, which contributes an estimated $583M in backlog and is expected to begin in the third quarter of 2023 in direct continuation of the rig's current contract. Deepwater Orion was awarded a three-year contract, which contributes an estimated $456M in backlog and is expected to commence during the fourth quarter of 2023."

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RIG Transocean
$3.69 /

-0.175 (-4.53%)

RIG Transocean
$3.69 /

-0.175 (-4.53%)

11/18/22 Piper Sandler
Transocean price target raised to $5 from $4 at Piper Sandler
10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
RIG Transocean
$3.69 /

-0.175 (-4.53%)

RIG Transocean
$3.69 /

-0.175 (-4.53%)

RIG Transocean
$3.69 /

-0.175 (-4.53%)

Over a week ago
Recommendations
Transocean price target raised to $5 from $4 at Piper Sandler » 06:06
11/18/22
11/18
06:06
11/18/22
06:06
RIG

Transocean

$4.22 /

-0.07 (-1.63%)

Piper Sandler analyst…

Piper Sandler analyst Luke Lemoine raised the firm's price target on Transocean to $5 from $4 and keeps a Neutral rating on the shares. Estimates for most oilfield services companies were revised upward and money could continue to flow into the space, Lemoine tells investors in a research note.

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RIG Transocean
$4.22 /

-0.07 (-1.63%)

RIG Transocean
$4.22 /

-0.07 (-1.63%)

10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
RIG Transocean
$4.22 /

-0.07 (-1.63%)

RIG Transocean
$4.22 /

-0.07 (-1.63%)

RIG Transocean
$4.22 /

-0.07 (-1.63%)

Hot Stocks
Transocean acquires interest in ultra deepwater newbuild drillship » 17:48
11/17/22
11/17
17:48
11/17/22
17:48
RIG

Transocean

$4.22 /

-0.07 (-1.63%)

Transocean announced that…

Transocean announced that one of its subsidiaries, together with Perestroika A.S. and funds managed by Lime Rock Management L.P., have formed a joint venture, Liquila Ventures Ltd. Liquila Ventures agreed with Daewoo Shipbuilding & Marine Engineering Co., to purchase Hull 3623, the ultra-deepwater newbuild drillship formerly known as West Aquila, for approximately $200M. Hull 3623 is a high specification, 1400 short-ton hookload ultra-deepwater drillship. This seventh-generation dual-activity drillship will have a large deck space, high load capacities, and will be dual-stack ready. Transocean has made a $15M noncontrolling investment in Liquila Ventures and maintains the exclusive right to market and manage the operations of the rig, which is expected to be delivered from DSME in the third quarter of 2023.

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RIG Transocean
$4.22 /

-0.07 (-1.63%)

RIG Transocean
$4.22 /

-0.07 (-1.63%)

10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
RIG Transocean
$4.22 /

-0.07 (-1.63%)

RIG Transocean
$4.22 /

-0.07 (-1.63%)

RIG Transocean
$4.22 /

-0.07 (-1.63%)

Over a month ago
Earnings
Transocean sees 2023 adjusted contract drilling revenue of $2.9B-$3B » 10:09
11/03/22
11/03
10:09
11/03/22
10:09
RIG

Transocean

$3.84 /

+0.2 (+5.49%)

Transocean stated on its…

Transocean stated on its Q3 call: "For 2023, we currently forecast adjusted contract drilling revenues to be between $2.9 and $3B. Furthermore, we believe our full-year 2023 O&M expense will be between $1.8 and $1.9B. Finally, we expect G&A cost to be around $200M. Our expected liquidity in December 2023 is projected to be between $1B and $1.2B, reflecting our revenue and cost guidance and including the $600M capacity of our revolving credit facility and restricted cash of approximately $300M, which is reserved for debt service, as well as anticipated secured financing of our second-generation drillship the Deepwater Titan. This liquidity forecast includes the 2023 capex expectation of $260M." FY23 total revenue consensus $3.15B.

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RIG Transocean
$3.84 /

+0.2 (+5.49%)

RIG Transocean
$3.84 /

+0.2 (+5.49%)

10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
RIG Transocean
$3.84 /

+0.2 (+5.49%)

RIG Transocean
$3.84 /

+0.2 (+5.49%)

RIG Transocean
$3.84 /

+0.2 (+5.49%)

Earnings
Transocean sees Q4 adjusted contract drilling revenue of about $600M » 10:06
11/03/22
11/03
10:06
11/03/22
10:06
RIG

Transocean

$3.85 /

+0.21 (+5.77%)

Transocean stated on its…

Transocean stated on its Q3 call: "I will now provide an update on our expectations for the fourth quarter. We expect adjusted contract drilling revenue of approximately $600M based upon an average fleetwide revenue efficiency of 96.5%. The quarter over quarter decrease is attributable to somewhat lower activity in the fourth quarter. We expect fourth quarter O&M expense to be approximately $440M. This is higher than the prior quarter the timing of certain maintenance activities. We expect G&A expense for the fourth quarter to be approximately $54M." Q4 total revenue consensus $654.17M.

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RIG Transocean
$3.85 /

+0.21 (+5.77%)

RIG Transocean
$3.85 /

+0.21 (+5.77%)

10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
RIG Transocean
$3.85 /

+0.21 (+5.77%)

RIG Transocean
$3.85 /

+0.21 (+5.77%)

RIG Transocean
$3.85 /

+0.21 (+5.77%)

Earnings
Transocean reports Q3 EPS (4c), consensus (18c) » 17:15
11/02/22
11/02
17:15
11/02/22
17:15
RIG

Transocean

$3.64 /

-0.025 (-0.68%)

Reports Q3 revenue $691M,…

Reports Q3 revenue $691M, consensus $666.7M. CEO Jeremy Thigpen says: "The robust demand for our assets and services helped us secure an incremental $1.6 billion since our July 25 Fleet Status Report, contributing to our already industry-leading backlog. We remain encouraged by the sustained strength in the offshore drilling market globally and expect demand for the increasingly scarce high-capability drilling rigs Transocean owns and operates to remain strong for the foreseeable future, resulting in higher utilization and dayrates."

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RIG Transocean
$3.64 /

-0.025 (-0.68%)

RIG Transocean
$3.64 /

-0.025 (-0.68%)

10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
RIG Transocean
$3.64 /

-0.025 (-0.68%)

RIG Transocean
$3.64 /

-0.025 (-0.68%)

RIG Transocean
$3.64 /

-0.025 (-0.68%)

Options
Transocean options imply 7.9% move in share price post-earnings » 13:49
11/02/22
11/02
13:49
11/02/22
13:49
RIG

Transocean

$3.68 /

+0.01 (+0.27%)

Pre-earnings options…

Pre-earnings options volume in Transocean is normal with calls leading puts 11:2. Implied volatility suggests the market is anticipating a move near 7.9%, or 29c, after results are released. Median move over the past eight quarters is 5.8%.

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RIG Transocean
$3.68 /

+0.01 (+0.27%)

RIG Transocean
$3.68 /

+0.01 (+0.27%)

10/17/22 Susquehanna
Transocean price target lowered to $3.30 from $4.20 at Susquehanna
10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
RIG Transocean
$3.68 /

+0.01 (+0.27%)

RIG Transocean
$3.68 /

+0.01 (+0.27%)

RIG Transocean
$3.68 /

+0.01 (+0.27%)

Recommendations
Transocean price target lowered to $3.30 from $4.20 at Susquehanna » 08:01
10/17/22
10/17
08:01
10/17/22
08:01
RIG

Transocean

$2.90 /

-0.05 (-1.69%)

Susquehanna analyst…

Susquehanna analyst Charles Minervino lowered the firm's price target on Transocean to $3.30 from $4.20 and keeps a Neutral rating on the shares. The analyst noted they received numerous adjustments higher on existing contracts that will help maintain margins amid inflation. The sum total of these gains added $1.6bn in contracted revenue, bringing the total company backlog to $7.3bn. He thinks these developments are positive for th company as the pace of contracting increases into 2023, but prefers other stocks within the coverage with more diversity and land exposure.

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RIG Transocean
$2.90 /

-0.05 (-1.69%)

RIG Transocean
$2.90 /

-0.05 (-1.69%)

10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
09/06/22 BTIG
Transocean upgraded to Buy from Neutral at BTIG
RIG Transocean
$2.90 /

-0.05 (-1.69%)

RIG Transocean
$2.90 /

-0.05 (-1.69%)

RIG Transocean
$2.90 /

-0.05 (-1.69%)

Hot Stocks
Transocean announces fleet status report with incremental backlog of $1.6B » 16:46
10/13/22
10/13
16:46
10/13/22
16:46
RIG

Transocean

$2.95 /

+0.105 (+3.69%)

Transocean "issued a…

Transocean "issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs. This quarter's report includes the following updates: Deepwater Conqueror - Awarded a two-year contract in the U.S. Gulf of Mexico at $440,000 per day. Deepwater Asgard - Awarded a one-well contract in the U.S. Gulf of Mexico at $395,000 per day plus a one-well option. Deepwater Asgard - Awarded a one-year contract in the U.S. Gulf of Mexico at $440,000 per day. Petrobras 10000 - Awarded a 5.8-year contract in Brazil at $399,000 per day escalating annually to $462,000 per day. Development Driller III - Awarded a one-well contract in Suriname at $345,000 per day plus two one-well options. Transocean Norge - Awarded a 17-well contract in Norway at dayrates between $350,000 and $430,000. Dhirubhai Deepwater KG1 - Customer exercised a one-well option in India at $330,000 per day. Paul B Loyd Jr - Customer exercised two 100-day options in the U.K. at $175,000 per day. Transocean Spitsbergen - Customer exercised a one-well option in Norway at $316,000 per day. The aggregate incremental backlog associated with these fixtures is approximately $1.6B. As of October 13, the company's total backlog is approximately $7.3B."

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RIG Transocean
$2.95 /

+0.105 (+3.69%)

RIG Transocean
$2.95 /

+0.105 (+3.69%)

10/07/22 Piper Sandler
Transocean assumed with a Neutral at Piper Sandler
10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
09/06/22 BTIG
Transocean upgraded to Buy from Neutral at BTIG
RIG Transocean
$2.95 /

+0.105 (+3.69%)

RIG Transocean
$2.95 /

+0.105 (+3.69%)

RIG Transocean
$2.95 /

+0.105 (+3.69%)

Initiation
Transocean assumed with a Neutral at Piper Sandler » 06:29
10/07/22
10/07
06:29
10/07/22
06:29
RIG

Transocean

$3.20 /

+0.19 (+6.32%)

Piper Sandler analyst…

Piper Sandler analyst Luke Lemoine assumed coverage of Transocean with a Neutral rating and $4 price target. The analyst assumed coverage of 27 oilfield service names. He believes there's long term value in the sector and that the crude pullback over the past months is "temporal." Under this context along with limited supply, the likely 2023 free cash flow generation, and the probable durability of earnings, "we're inclined to say the overall space is still a value," Lemoine tells investors in a research note.

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RIG Transocean
$3.20 /

+0.19 (+6.32%)

RIG Transocean
$3.20 /

+0.19 (+6.32%)

10/06/22 Barclays
Barclays double upgrades Transocean on better offshore drilling market
10/06/22 Barclays
Transocean upgraded to Overweight from Underweight at Barclays
09/06/22 BTIG
Transocean upgraded to Buy from Neutral at BTIG
08/25/22 Pareto
Transocean upgraded to Buy from Hold at Pareto
RIG Transocean
$3.20 /

+0.19 (+6.32%)

RIG Transocean
$3.20 /

+0.19 (+6.32%)

RIG Transocean
$3.20 /

+0.19 (+6.32%)

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