Post Profile






Offshore drilling mergers raise hopes for sector recovery

By Liz Hampton HOUSTON (Reuters) - Mergers among offshore oil drillers are raising hopes that consolidation could bring relief to a sector struggling to emerge from an industry downturn triggered by low crude prices. Transocean Ltd, one of the world's largest offshore drilling contractors, on Tuesday agreed to buy Norwegian rival Songa Offshore SE for $1.1 billion. The deal follows Ensco Plc's pending purchase of Atwood Oceanics Inc in a transaction valued at $839 million.
read more

share
See more about: Transocean Ltd

Related Posts


Icahn’s Transocean Buy Pushes Offshore Driller Toward Partnership

Vehicles / Watercraft : gCaptain

Jan. 16 (Bloomberg) — Carl Icahn’s new stake in Transocean Ltd. may raise pressure on the world’s largest offshore driller to split off some of its rigs into a tax-advantaged [...]

Transocean Shares Take a Beating Over Songa Offshore Deal

Vehicles / Watercraft : gCaptain

By David Wethe and Joe Carroll (Bloomberg) — Transocean Ltd. dropped to the lowest in more than two decades as investors panned its deal to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collap...

Transocean, Schlumberger See Oil Industry Recovery Delayed

Vehicles / Watercraft : gCaptain

By David Wethe (Bloomberg) — Leaders of the world’s largest suppliers of offshore drilling rigs and the services that go with them see the oil market recovery taking even longer than expected last year. Transocean Ltd. Chief Executi...

Transocean’s Songa Offshore Deal Is Biggest in Oil Downturn

Vehicles / Watercraft : gCaptain

By Mikael Holter and David Wethe (Bloomberg) — Transocean Ltd. agreed to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. The enterprise value is about $3.4 billion, ha...

Transocean Profits Dwindle as Customers Cut Offshore Drilling

Vehicles / Watercraft : gCaptain

By David Wethe (Bloomberg) — Transocean Ltd.’s profit dwindled in the second quarter as the world’s largest offshore driller struggles to win contracts and keep rigs busy during an oil industry downturn. Net income fell to $77 milli...

Comments


Copyright © 2016 Regator, LLC