Transocean (NYSE: RIG) is a leading international provider of offshore contract drilling services for oil and gas wells with an emphasis on technically demanding sectors of the global offshore drilling business such as deep-water and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world. It owns or partially owns and operates a fleet of 60 mobile offshore drilling units consisting of 28 ultra-deepwater floaters, seven harsh-environment semisubmersibles, five deep-water semisubmersibles, 10 midwater semisubmersibles and 10 high-specification jackups. In addition, the company has six ultra-deep-water drill ships and five high-specification jackups under construction or under contract to be constructed.
Like other offshore drilling companies, RIG shares have gone downhill over the last 16 months and the budgets for 2016 suggest that capital expenditure is not likely to go up until next year. This will provide investors with plenty of time to analyse this company thoroughly and decide how to take the best advantage of … Read More
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