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...Drilling rig operator Transocean has struck a cash-and-stock deal valued at $2.7bn including debt to acquire deepwater rival Ocean Rig in the latest sign that recovery in oil prices is fuelling a new round...
...Last year Transocean, the world’s largest offshore-rig operator, jettisoned six of its rigs amid bleak predictions for deepwater drilling....
...consolidation in offshore drilling,” said Ian Macpherson, Simmons and Company analyst....
...Jeremy Thigpen, chief executive of rig operator Transocean, said last month the ultra-deepwater drilling market was “turning up”....
...This week, Transocean followed by striking a deal to acquire Norway’s Songa Offshore for $3.4bn....
...This week, Transocean followed by striking a deal to acquire Norway's Songa Offshore for $3.4 billion....
...The offshore drilling business is in such distress that Transocean just sold at a steep discount a dozen rigs it does not need to a small Norwegian group....
...What audiences can take away from the film, though, is a vivid sense of the extraordinary engineering feat that is deepwater drilling, and renewed respect for the men and women who contend with its difficulties...
...Neither BP nor Transocean, the drilling company that owned the Deepwater Horizon rig, co-operated with the filmmakers....
...In December, Vantage Drilling in the US, which has three deepwater drillships, filed for bankruptcy protection....
...Oil and gas companies within the S&P 500 have declined on eight of the past 10 trading days, including 9 per cent-plus drops for Transocean, Marathon Oil, Diamond Offshore Drilling and Murphy Oil....
...Although offshore and especially deepwater oil is expensive, the fields found can be very large....
...Transocean, one of the largest offshore drilling contractors, relocated from the US to the Cayman Islands in 1999, and then to Switzerland in 2008....
...Transocean, one of the world’s largest offshore drilling contractors, has warned that it expects to report a loss of more than $2.1bn and plans to stop paying its dividend for the rest of the year, as it...
...Ensco, Transocean and Diamond Offshore were comfortably among the top 10 decliners on the S&P 500 on Thursday as analysts at Barclays warned that the spending on which drillers rely is not going to pick...
...Rig operators such as Transocean, Seadrill and Maersk park rigs when drilling contracts come to an end or clients — an oil major, say, such as BP or Royal Dutch Shell — decide not to take up the option of...
...There is, for example, oversupply in the market for offshore drilling rigs....
...Transocean, one of the world’s largest offshore drilling contractors, has been hit hard by the decline in oil and gas drilling, and its shares have fallen 53 per cent in the past year....
...Transocean, one of the biggest offshore drilling contractors, jumped 7.3 per cent to $15.76....
...Transocean, one of the world’s largest offshore drilling contractors, announced it could no longer to afford even the greatly reduced dividend for this year that shareholders had approved in May, and warned...
...For example, Transocean’s Deepwater Champion rig is under contract to ExxonMobil to work in the Gulf of Mexico at a rate of $395,000 per day from November to January, down 41 per cent compared to its previous...
...Transocean, one of the world’s largest offshore drilling contractors, has had its debt cut to junk by Moody’s because of the strain on the company’s financial position created by the slump in oil prices...
...Transocean, one of the world’s largest offshore drilling contractors, is cutting its dividend by 80 per cent, in the latest sign of how the plunge in oil prices is hitting the industry....
...They also came as its US-based rival Transocean wrote down the value of its own drilling business....
...If Fossil is threatened by the imminent entry of a big competitor, Transocean, one of the world’s largest offshore drilling contractors, faced further pain from the weaker oil price....
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