|
Post by Blitz on Apr 17, 2024 16:11:04 GMT -5
Transocean Ltd. Provides Quarterly Fleet Status Report April 17, 2024 www.deepwater.com/news/detail?ID=28486STEINHAUSEN, Switzerland, April 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. This quarter’s report includes the following updates: Deepwater Asgard – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a rate of $505,000. Deepwater Skyros – Customer exercised a three-well option in Angola at a rate of $400,000. The aggregate incremental backlog associated with these fixtures is approximately $248 million. As of April 17, 2024, the company’s total backlog is approximately $8.9 billion. The report can be accessed on the company’s website: www.deepwater.com. About Transocean... Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world. Transocean owns or has partial ownership interests in and operates a fleet of 36 mobile offshore drilling units, consisting of 28 ultra-deepwater floaters and eight harsh environment floaters. In addition, Transocean is constructing one ultra-deepwater drillship. Forward-Looking Statements... ////////////////////////// FSR Link: www.deepwater.com/investors/fleet-status-report
|
|
|
Post by rajiv on Apr 17, 2024 16:23:33 GMT -5
and clearly it leaked to someone as the stock traded down aggressively on heavy volume late in the day. Insider trading is alive and well in 2024.
|
|
|
Post by kingrig on Apr 17, 2024 16:25:13 GMT -5
Transocean Ltd. Provides Quarterly Fleet Status Report April 17, 2024 www.deepwater.com/news/detail?ID=28486STEINHAUSEN, Switzerland, April 17, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. This quarter’s report includes the following updates: Deepwater Asgard – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a rate of $505,000. Deepwater Skyros – Customer exercised a three-well option in Angola at a rate of $400,000. The aggregate incremental backlog associated with these fixtures is approximately $248 million. As of April 17, 2024, the company’s total backlog is approximately $8.9 billion. The report can be accessed on the company’s website: www.deepwater.com. About Transocean... Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world. Transocean owns or has partial ownership interests in and operates a fleet of 36 mobile offshore drilling units, consisting of 28 ultra-deepwater floaters and eight harsh environment floaters. In addition, Transocean is constructing one ultra-deepwater drillship. Forward-Looking Statements... ////////////////////////// FSR Link: www.deepwater.com/investors/fleet-status-report this will be my last stock I ever buy that doesn’t pay me to wait aka a dividend
|
|
|
Post by rajiv on Apr 17, 2024 16:34:46 GMT -5
the other negative: not much else new & sequential quarters of declining book-to-bill. Clearly this leaked to investors during mkt hours. Tomorrow will be ugly.
|
|
|
Post by bjspokanimal on Apr 17, 2024 16:45:48 GMT -5
A hoped for deal for Inspiration still hasn't happened and another short contract for Invictus isn't mentioned. Those 2, and their currently idle semi are the 3, warm rigs in their fleet that aren't working. Backlog timeline gaps aren't unique to Transocean right now.. Noble's CEO, in his interview this morning, referred to "white space" in his backlog as well.
|
|
|
Post by kingrig on Apr 17, 2024 17:57:56 GMT -5
A hoped for deal for Inspiration still hasn't happened and another short contract for Invictus isn't mentioned. Those 2, and their currently idle semi are the 3, warm rigs in their fleet that aren't working. Backlog timeline gaps aren't unique to Transocean right now.. Noble's CEO, in his interview this morning, referred to "white space" in his backlog as well. super cycle my a**
|
|
|
Post by kingrig on Apr 17, 2024 17:58:30 GMT -5
A hoped for deal for Inspiration still hasn't happened and another short contract for Invictus isn't mentioned. Those 2, and their currently idle semi are the 3, warm rigs in their fleet that aren't working. Backlog timeline gaps aren't unique to Transocean right now.. Noble's CEO, in his interview this morning, referred to "white space" in his backlog as well. there would be no white space in a true super cycle
|
|
|
Post by rajiv on Apr 17, 2024 21:23:06 GMT -5
nice try. They are not executing well at all.
|
|
|
Post by rajiv on Apr 17, 2024 21:29:33 GMT -5
there is no supercycle and when Trump wins this next election, his strategy is going to be to drill, drill, drill and drive the price of oil as low as he possibly can to weaken Russia, to weaken the Middle East, specifically Iran, and even Saudi Arabia. His proxies (Kay McFarland is just one) are speaking quite clearly on this topic.
|
|
|
Post by kingrig on Apr 18, 2024 0:28:55 GMT -5
there is no supercycle and when Trump wins this next election, his strategy is going to be to drill, drill, drill and drive the price of oil as low as he possibly can to weaken Russia, to weaken the Middle East, specifically Iran, and even Saudi Arabia. His proxies (Kay McFarland is just one) are speaking quite clearly on this topic. why would oil companies want to over drill so they make less money??? I think you have forgotten the dark days of negative oil, the oil industry will NOT forget those days anytime soon
|
|
|
Post by astaroth on Apr 18, 2024 2:31:14 GMT -5
the other negative: not much else new & sequential quarters of declining book-to-bill. Clearly this leaked to investors during mkt hours. Tomorrow will be ugly. So even knowing guys “from the biz” you don’t know that Transocean’s FSR is the most predictable thing. And no one needs a leak. Funny guy
|
|
|
Post by psvwordtkampioen on Apr 18, 2024 2:58:27 GMT -5
nice try. They are not executing well at all. Tip: dump the stock and take your whining somewhere else. Obviously, none of us is going to be the next Warren Buffett, but you should be able to distinguish between things that can or cannot be controlled by a company.
|
|
|
Post by kingrig on Apr 18, 2024 4:42:35 GMT -5
nice try. They are not executing well at all. Tip: dump the stock and take your whining somewhere else. Obviously, none of us is going to be the next Warren Buffett, but you should be able to distinguish between things that can or cannot be controlled by a company. oh ok i get it you a short
|
|
|
Post by Blitz on Apr 18, 2024 8:31:40 GMT -5
there is no supercycle and when Trump wins this next election, his strategy is going to be to drill, drill, drill and drive the price of oil as low as he possibly can to weaken Russia, to weaken the Middle East, specifically Iran, and even Saudi Arabia. His proxies (Kay McFarland is just one) are speaking quite clearly on this topic. why would oil companies want to over drill so they make less money??? I think you have forgotten the dark days of negative oil, the oil industry will NOT forget those days anytime soon When the price of oil gets near $90 and certainly when it gets over $100, marginal shale/fracker players can make money. So, it's the making money part of the profit equation that prompts additional production. That eventually leads to oversupply. Oversupply leads to lower prices. Marginal frackers can't make money under $80/bbl. Why? They have higher extraction costs. They have to pay more to pump out old wells. So, they turn off the pumps when they stop making money and they turn on the pumps when oil prices = profits. That's why the old adage is so true... The cure for high oil prices is high prices and the cure for low oil prices is low oil prices.
|
|
|
Post by rajiv on Apr 18, 2024 8:51:22 GMT -5
I'm a short? I wish!! Actually a trapped long.
|
|
|
Post by Blitz on Apr 18, 2024 9:17:54 GMT -5
I'm a short? I wish!! Actually a trapped long. Just curious... What's you average buy price? My highest buy was $7. My lowest $0.83. I bot at $7 when I thought it was going $14 and I couldn't find another stock I liked better. Due to market supply and demand dynamics related to long term oil supply and long term floater supply and demand, I still think RIG's is stocking to double from here. It's just taking longer than I thought.
|
|
|
Post by rajiv on Apr 18, 2024 9:55:45 GMT -5
avg cost is $6.37. Company has simply never delivered. Management enriching themselves all along the way. Broken promises, missed targets, and just overall sloppy.
|
|
|
Post by rajiv on Apr 18, 2024 9:57:35 GMT -5
And now the stock will go back and retest the $4.45 area as their book-to-bill ratio continues to decline sequentially the rest of this year.
|
|
|
Post by Blitz on Apr 18, 2024 10:01:51 GMT -5
avg cost is $6.37. Company has simply never delivered. Management enriching themselves all along the way. Broken promises, missed targets, and just overall sloppy. Thanks for the response. While it has been a painfully slow process, dayrates are moving up with contracts are getting longer as floaters are obtained much further in advance of their actual need date. So, I believe you'll be pleasantly surprised, even though it's taking longer than expected.
|
|
|
Post by kingrig on Apr 18, 2024 14:00:59 GMT -5
And now the stock will go back and retest the $4.45 area as their book-to-bill ratio continues to decline sequentially the rest of this year. dude just hold on a few more quarters and you’ll be very happy, they literally will be profitable in only 2 more quarters and start paying down debt, their CAPEX is over, they will turn profitable
|
|
|
Post by kingrig on Apr 18, 2024 14:32:00 GMT -5
I'm a short? I wish!! Actually a trapped long. Just curious... What's you average buy price? My highest buy was $7. My lowest $0.83. I bot at $7 when I thought it was going $14 and I couldn't find another stock I liked better. Due to market supply and demand dynamics related to long term oil supply and long term floater supply and demand, I still think RIG's is stocking to double from here. It's just taking longer than I thought. interesting, I too have a target around your $14, I’m in the $15-$17 range by the end of 2025 with around $1.5 billion in debt repayments by that timeframe
|
|
|
Post by Blitz on Apr 18, 2024 16:42:55 GMT -5
RIG traded 26 million shares today. That's a lot of buying and selling.
|
|
|
Post by bjspokanimal on Apr 18, 2024 20:44:16 GMT -5
I think the heavy down volume was a reaction to the FSR, which reported new contracts in the quarter which were well below anticipated quarterly drilling revenue an resulted in a decline in the backlog, albeit not as big of a decline as the value of new contracts would suggest. Thing is, for all but 2.5, warmstacked rigs (Invictus is on and off these days, so 1/2), any new contract on working rigs would have to have a really stretched lead-time, so yeah, we're at that point now. My view is that given the good news about revenues, cash flow and EPS that's imminent later this year, a pullback in the stock on contract news may well allow people to jump in front of that imminent news at a more attractive stock price than we were seeing a couple of weeks ago.
|
|
|
Post by kingrig on Apr 19, 2024 1:27:56 GMT -5
I think the heavy down volume was a reaction to the FSR, which reported new contracts in the quarter which were well below anticipated quarterly drilling revenue an resulted in a decline in the backlog, albeit not as big of a decline as the value of new contracts would suggest. Thing is, for all but 2.5, warmstacked rigs (Invictus is on and off these days, so 1/2), any new contract on working rigs would have to have a really stretched lead-time, so yeah, we're at that point now. My view is that given the good news about revenues, cash flow and EPS that's imminent later this year, a pullback in the stock on contract news may well allow people to jump in front of that imminent news at a more attractive stock price than we were seeing a couple of weeks ago. when will we get to $14?
|
|
|
Post by psvwordtkampioen on Apr 19, 2024 4:11:37 GMT -5
What about when they make a profit?
|
|