RIG trying to avoid BK

Knew about this earlier when the judge dismissed the attempt by the creditors to
prevent the exchange. One thing left out is that Transocean's investment banker
that engineered the exchange would also be liable if there was any seniority breach.
The company disputes it, of course.

Also not mentioned in the second part of the article is that any decline in
competitiveness due to other drillers getting debt relief is somewhat offset
by a continuing trend of rig retirements. In some of the other companies'
restructuring, a few rig retirements are even being involuntarily mandated.

At such time as oil rebounds and drilling picks up, there will be far fewer offshore
rigs available, relative to last year, and Particularly relative to 2014.

Meanwhile, the very slow, month-to-month trend of increasing demand and declining
oil inventories are moving in the right direction and it's likely that the advent
of a vaccine, well before 2023, will accelerate the demand curve to some extent...
especially with kerosene (eg: jet fuel) as some flying resumes, work-from-home
policies notwithstanding.

In fact, U.S. gasoline inventories are now smack dab in the middle of the average levels
over the past 5 years... first time since April that that's been the case.

Finally, few mention it, but with Biden opposing hydraulic fracking like he has
(and Socialist Kamala Harris hating anything oil-related), a Harris (Biden)
presidency is actually beneficial to Transocean to the extent that foreign
exploration fills any gap due to their curtailment mandates. Foreign exploration, in
the aggregate, involves a higher percentage of offshore wells than domestic
exploration does.

A reverse split is possible however it will destroy the value of our stock.