RIG - Transocean, Inc. (NYSE Stock)

[BadThad]

Brazil Judge Throws Out Union Suit Vs Chevron, Transocean -Reuters
6:19p ET May 7, 2012 (Dow Jones) Brazil Judge Throws Out Union Suit Vs Chevron, Transocean -Reuters

DOW JONES NEWSWIRES

A Brazilian judge threw out a union's civil lawsuit against Chevron Corp. (CVX) and rig operator Transocean Ltd. (RIG) because its goals are already part of an existing lawsuit, Reuters reported Monday.
The Federacao Unica dos Petroleiros union, known as FUP, sued Chevron and Transocean in March for their roles in a November oil spoil, seeking to ban the companies from operating in Brazil.
The judge, Mauro Souza Marques da Costa Braga, said his decision has no bearing on the merit of the lawsuit, Reuters reported.
Full story at http://www.reuters.com/article/2012/...8G7N4N20120507
-Dow Jones Newswires; 212-416-2900

[BadThad]

MARKET TALK: Macquarie More Bullish On Offshore Drillers
9:57a ET May 16, 2012 (Dow Jones) MARKET TALK: Macquarie More Bullish On Offshore Drillers
9:57 (Dow Jones) Macquarie thinks three major factors "provide a compelling entry point" for deepwater drilling stocks: Share prices have pulled back recently, Brent crude prices have fallen, and the group posted strong quarterly results. It raises ratings on Atwood Oceanics (ATW), Ensco (ESV), Noble (NE) and Rowan (RDC) to outperform from neutral, and Transocean (RIG) to neutral from underperform. Macquarie's offshore driller composite has pulled back almost 17% in the past two months. All stocks trading higher

RIG is a HUGE buy now at the current valuations.

Current stock price: $44.35

[BadThad]

Transocean Ltd. Provides Fleet Update Summary
4:15p ET May 17, 2012 (Benzinga) Transocean Ltd. (NYSE: RIG) today issued a monthly fleet update summary which includes newly signed contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 days or longer for all rig classifications since the previously issued comprehensive fleet status report. Backlog associated with new contracts or extensions since the April 18, 2012 fleet status report is approximately $726 million. Planned 2012 out of service time increased by a net 471 days, which includes 320 days (68 percent) associated with rigs preparing for new or potential contracts and 105 days (22 percent) related to recertification of well control equipment on two additional rigs.

Highlights are as follows:

Transocean Spitsbergen - Customer exercised two-year options for work offshore Norway at a dayrate of $542,000 ($396 million contract backlog). The rig's prior dayrate was $500,000. GSF Constellation I - Awarded a three-year contract for work offshore Indonesia at a dayrate of $150,000 ($164 million contract backlog). The rig's prior dayrate was $140,000. GSF Monitor - Awarded a one-year contract for work offshore Nigeria at a dayrate of $153,000 ($56 million contract backlog). The rig's prior dayrate was $118,000. GSF Rig 135 - Awarded a 120-day contract for work offshore Nigeria at a dayrate of $340,000 ($41 million contract backlog). The rig's prior dayrate was $260,000. GSF Monarch - Customer exercised options for work offshore Denmark at a dayrate of $94,000 ($34 million contract backlog). GSF Galaxy III - Customer exercised a six-month option for work in the U.K. sector of the North Sea at a dayrate of $149,000 ($27 million contract backlog). Randolph Yost - Being reactivated in preparation for potential contracts. Well Control Equipment Recertification - The company has now obtained third party certification of well control equipment on 31 of its 63 active floaters, including 19 of its 27 ultra-deepwater rigs. Since the April 18, 2012 fleet status report, the company has sold the Transocean Nordic and Roger W. Mowell, which were previously held for sale. The details of the transactions have not been disclosed.

[BadThad]

Stable, I rate the stock BUY at these levels. Once the gulf stuff is cleared up, RIG's stock price is going to recover in a big way IMO.

Moody's Affirms Transocean Ratings; Outlook Negative
2:53p ET May 23, 2012 (Dow Jones) Moody's Affirms Transocean Ratings; Outlook Negative

DOW JONES NEWSWIRES

Moody's Investors Service affirmed the ratings of Transocean Inc. (RIG), reducing for now the potential for the ratings to be cut to junk level.
The credit ratings company ended a review of the offshore driller's ratings for a possible downgrade begun in November amid concerns the company's leverage would remain elevated.
Moody's kept Transocean at Baa3--a notch above junk territory--amid expectations that Transocean will reduce its debt levels significantly this year as the company's cash flow recovers from revenue lost in 2011 caused by rig downtime as it retrofit and recertified most of its deepwater rig fleet.
"It appears that the worst is over for Transocean's operating performance now that most of upgrade work on its deepwater fleet has been completed," said Stuart Miller, Moody's senior analyst.
Moody's also noted steps to increase its liquidity, including the issuance of $1.2 billion of equity and the suspension of shareholder distributions at least through the first quarter next year.
However, the outlook remains negative, owing to risks related to Transocean's execution plans to improve its balance sheet as well as potential liabilities related to the Deepwater Horizon disaster.
Moody's said Transocean need to show continuing progress on plans to cut its long-term debt to less than $9 billion for the ratings outlook to stabilize. However, any quantification of its liabilities related to the Deepwater Horizon disaster that could be met without issuing new debt would provide additional grounds to stabilize the rating outlook sooner.
Shares were down 1.3% at $42.61 in recent trading. The stock is down 37% in the past year, despite rising 11% since the start of 2012.

Current stock price: $42.97

[BadThad]

Transocean Is Said to Put Middle East Rigs Up for Sale -Reuters >RIG
12:31p ET June 14, 2012 (Dow Jones) Transocean Is Said to Put Middle East Rigs Up for Sale -Reuters >RIG

Transocean Ltd. (RIG) has put its Middle East rig assets up for sale, with private equity firms Lime Rock Partners and Castle Harlan emerging as the main bidders in a deal likely to raise $1 billion for the offshore driller, Reuters reported Thursday on its website, citing three people with knowledge of the matter.
About 30 rigs are involved, one person said. A Transocean spokesman told Reuters the company would not comment on "market speculation."
Full story at: http://www.reuters.com/article/2012/...8HE9MY20120614

Stock running lately, up over 3% today.

Current stock price: $43.67

[BadThad]

RIG...once again....making a move. This is THE STOCK to buy when it goes limp, proven once again!

Current stock price: $45.29 (up over 3%)

[BadThad]

Stock surging today up 5%. The stock seems to have set a new trading range over the past couple of years. If it makes it below $40 again, I'm going all in.

Current stock price: $46.77

[BadThad]

Global Hunter Securities Reiterates Buy Rating, $56 PT on Transocean
9:44a ET August 3, 2012 (Benzinga) In a report published Friday, Global Hunter Securities reiterated its Buy rating and $56.00 price target on Transocean Ltd. (NYSE: RIG).

Global Hunter noted, “Execution has materially improved in recent quarters as evidenced by the revenue utilization figure posted in Q2. It appears as though RIG has made the proper modifications to its supply chain and capital spares program, along with the necessary upgrades to its high-spec rigs to help push it closer to its true earnings power. While as we look out to 2014 and beyond when newbuilds hit the market, we believe its peers' earnings profiles look more attractive, but in the interim RIG leads the group with near-term contract catalysts and re-pricing leverage. This and increased conviction in its ability to execute should allow for multiple expansion and share price appreciation.”

Transocean Ltd. closed on Thursday at $47.20.

[BadThad]

Yesterday's News, August 13, 2012
6:47a Deutsche Bank Maintains Transocean at Hold, Lowers PT from $75 to $71

[BadThad]

Transocean Ltd. Provides Fleet Update Summary
4:15p ET August 15, 2012 (Market Wire) Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days since July 18, 2012. Backlog associated with new contracts or extensions since the July 18, 2012 fleet status report is approximately $600 million. Estimated out of service time for 2012 increased by a net 29 days; 2013 decreased by a net 61 days.

Highlights are as follows:

-- Sedco 714 - Awarded a one-year contract extension for work in the U.K.
sector of the North Sea at a dayrate of $395,000 ($144 million
contract backlog). The rig's prior dayrate was $253,000.
-- Transocean John Shaw - Awarded a one-year contract extension for work
in the U.K. sector of the North Sea at a dayrate of $360,000 ($131
million contract backlog). The rig's prior dayrate was $318,000.
-- Sedneth 701 - Awarded a one-year contract for work offshore Nigeria at
a dayrate of $311,000 ($114 million contract backlog). The rig's prior
contract dayrate was $275,000.
-- GSF Key Manhattan - Awarded a two-year contract extension for work
offshore Italy at a dayrate of $134,000 ($97 million contract
backlog). The rig's prior dayrate was $137,000.
-- GSF Galaxy II - Awarded a three-well contract extension for work in
the U.K. sector of the North Sea at a dayrate of $210,000 for the
first well and $220,000 per day for the remaining wells ($76 million
contract backlog). The rig's prior contract dayrate was $190,000.
-- Discoverer 534 is currently held for sale. The rig was previously
stacked.

Stock taking off today, up 5%.

Current stock price: $50.20