Transocean Ltd. (RIG) is one of the world's largest offshore drilling contractors and is based in Vernier, Switzerland. The company has offices in 20 countries, including Switzerland, Canada, United States, Norway, Scotland, Brazil, Singapore, Indonesia and Malaysia. In 2010, Transocean was implicated in the Deepwater Horizon oil spill resulting from the explosion of one of its oil rigs in the Gulf of Mexico. On 23 November 2015 Transocean announced that it intent to delist its shares from the SIX Swiss Exchange due to financial reasons. The delisting will be effective on March 30, 2016. After the delisting the shares will be removed from the Swiss blue-chip index Swiss Market Index.
Transocean shares sink 7% after Reliance cancels drill ship contract Shares of Transocean sank on Monday after the offshore oil services firm announced a large Indian customer has dropped a contract for one of Transocean's drilling ships ahead of schedule. The stock fell about 7.5 percent to about $9.85 a share on Monday. Transocean shares are down more than 20 percent this year as the company and its peers continue to struggle through a prolonged downturn in oil prices that has led many exploration and production customers to seek discounts on services and end contracts for equipment.
Analyst Upgrade/Downgrade Update Brokerage firm: Morgan Stanley Change: Upgrade Previous Rating: Underweight Current Rating: Equal Weight Previous Price Target: N/A Current Price Target: N/A
Isn't this one that headed up with DRYS? Obviously paced itself though and wasn't a pure gamble like that one.
RIG still has legs here, that little sell off last week shook out some of the weaker hands and then kept going!
Shares of Transocean ($RIG) may be in focus after the oilfield services company agreed to sell 15 drilling rigs to Norway's Borr Drilling for $1.35 billion.