RIG - Transocean, Inc. (NYSE Stock)

[BadThad]

MARKET TALK: Offshore Rig Rates Set To 'Spike' -Morgan Stanley
3:22p ET February 28, 2012 (Dow Jones) MARKET TALK: Offshore Rig Rates Set To 'Spike' -Morgan Stanley
3:22 (Dow Jones) There's a shortage of ultra-deepwater rigs, says Morgan Stanley, and that will lead to a "spike" in offshore rates. The firm has become more bullish on drilling and equipment makers, namely Transocean (RIG) and Diamond Offshore (DO), which would have the most exposure to a dayrate squeeze, and Seadrill (SDRL), which is the only company with 2012 exposure to an ultra-deepwater rate spike. Morgan Stanley flips to overweight from underweight on DO while Rowan (RDC) and Atwood (ATW) get moved up to equalweight. DO rises 1.8% while ATW climbs 2.3%. The report doesn't include RDC's news Tuesday, which is pushing the stock down 5.5%.

Current stock price: $54.41

[BadThad]

PRICE TARGET CHANGES: FRIEDMAN, BILLINGS & RAMSEY
2:31p ET February 29, 2012 (Dow Jones) PRICE TARGET CHANGES: FRIEDMAN, BILLINGS & RAMSEY

Friedman, Billings & Ramsey issued the following share price target changes on Tuesday:

Company Name Symbol New Trg Old Trg Current Time Span

INCREASE:

Transocean RIG $70.00 $65.00 $53.62 12 Months

Strange, slight pullback on RIG, must be profit takers. If it keeps up, I'll be adding because I still strongly see this at $60-70 this year.

Current stock price: $52.64

[BadThad]

Paired down my heavy RIG holdings some today, it seems to have hit a wall around $54 and I don't want to be HTB again should it drop.

[BadThad]

Figures, reduced my position and it goes up 5%. LOLOLOL

Current stock price: $55.72

[Leviathan]

At least you reduced for a profit, right? Happy to see it knocking on $56 door. Still waiting for $60 though.

[BadThad]

Originally Posted by Leviathan

At least you reduced for a profit, right? Happy to see it knocking on $56 door. Still waiting for $60 though.

Of course I made profit.

Transocean Ltd. Provides Fleet Update Summary
4:15p ET March 15, 2012 (Market Wire) Transocean Ltd. (NYSE: RIG) (SIX: RIGN) 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 or fleet update summary. Significant highlights include the following:

-- Deepwater Expedition - Awarded a two-year contract with an undisclosed
customer commencing December 2012 at an initial dayrate of $650,000
($475 million contract backlog). Additionally, the contract includes
three priced eight-month option periods.
-- Discoverer Seven Seas - Awarded a three-well contract (approximately
180 days) for work offshore Indonesia at a dayrate of $445,000 ($80
million contract backlog). The rig's prior dayrate was $295,000.
-- GSF Arctic III - Awarded a three-month contract extension in the U.K.
sector of the North Sea at a dayrate of $315,000 ($28 million contract
backlog). The rig's prior dayrate was $280,000.
-- Planned 2012 out of service time increased by a net 284 days,
including 140 days associated with preparing the Deepwater Expedition,
Discoverer Seven Seas, and Trident XIV for new or anticipated
contracts.
-- As previously disclosed, the Deepwater Millennium and the GSF Grand
Banks shipyards were completed and the rigs are currently operating.
In addition, since the previous fleet update summary, the GSF Rig 140
has left the shipyard and is en route to India.

[BadThad]

Today's News, March 16, 2012
7:53a Transocean Raised To Buy From Neutral By Global Hunter Securities >RIG

Current stock price: $57.82

[BadThad]

MARKET TALK: Transocean Rallies On Drilling-Rig Contract
12:12p ET March 16, 2012 (Dow Jones) MARKET TALK: Transocean Rallies On Drilling-Rig Contract
12:12 (Dow Jones) Transocean (RIG) shares are at a 4 1/2-month high as the offshore driller announced it has reached a deal to get $650K/day for one of its rigs, "the highest dayrate we have seen in the current upcycle." says Susquehanna. It adds the amount is "particularly encouraging" as the Deepwater Exploration had its prior contract cancelled in January because of nonperformance. Petronas and BHP were paying $640K to have the rig, which was located off Malaysia. The new renter has yet to be announced, though Credit Suisse predicts it will go to the Red Sea and be used by Saudi Aramco. Susquehanna boosts its price target on RIG to $67 from $63 while Global Hunter upgrades the company to buy and sets a $70 target. Shares gain 4.5% to $58.67. (kevin.kingsbury@dowjones.com)

[BadThad]

Today's News, March 29, 2012
9:19a Transocean Raised To Outperform From Underperform By CLSA >RIG (Dow Jones)

Current stock price: $52.70

[BadThad]

RIG hit a morning low of $50.25 today, the stock is an exceptional bargain at that level IMO. They have cleared some nasty stuff off their books last qtr, the dividend payments have ended and their contract backlog is good. I expect to see some nice earnings reports for 2012 and those should propel the stock back to the $60+ levels this year.

Current stock price: $51.21