Transocean Ltd (RIG) Options

Loading up daily on this stock pick

another million 5 purchase for Perestroika

Transocean LTD (RIG): The Best US Stock to Buy Under $5 Now

https://finance.yahoo.com/news/transocean-ltd-rig-best-us-163527035.html

"STEINHAUSEN, Switzerland, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that Reliance Industries Limited awarded a binding Letter of Award for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026 and is estimated to contribute approximately $123 million in backlog, excluding additional services and a mobilization fee. The award also includes multiple options. If all options are exercised, the rig would remain in India through the end of 2029."

"A federal court has thrown out key Endangered Species Act (ESA) analyses of oil and gas operations in the Gulf of Mexico, which will be vacated as of Dec. 20, 2024. The United States District Court for the District of Maryland ruled, in a lawsuit brought by environmental groups, that the National Marine Fisheries Service (NMFS) "underestimated the risk and harms of oil spills to protected species." The ruling creates uncertainty for oil and gas operations while NMFS completes a new biological opinion, as ordered by the Court."

https://www.hklaw.com/en/insights/publications/2024/08/court-strikes-down-key-endangered-species-act-opinion

selling two idle pieces of equipment for 342 million, Applied to debt. My understanding is it will not affect cash flow but will show on Income statement

"Namibia Plans to Become the Fifth Largest Oil Producer in Africa"

https://oilprice.com/Latest-Energy-News/World-News/Namibia-Plans-to-Become-the-Fifth-Largest-Oil-Producer-in-Africa.html

from conference call:

"Nigeria is expected to acquire four rigs, two more than are currently in the region. In Angola, there are seven floaters operating, and we expect this level of demand to be sustained. Ghana, Ivory Coast and Namibia could also add to the rig demand in 2025 and 2026 with four programs expected to commence in this time frame. If all programs proceed as expected, three drillships could be required from outside of these countries."

"OMV finds gas in deepwater offshore mid-Norway, eyes tieback to Aasta Hansteen spar"

https://www.offshore-mag.com/drilling-completion/article/55135517/omv-finds-gas-in-deepwater-offshore-mid-norway-eyes-tieback-to-assta-hansteen-spar

HOLA Another RED day... along with Oil. Is RIG share price tied directly to Oil Down Oil Down RIG ? Stupid question I guess since RIG drills for OIL.

Mutha F er Took a HIT today .... What happened ? D

"Africa Oil issues updates on its E&P activities offshore Africa"

https://www.offshore-mag.com/regional-reports/africa/article/55133372/africa-oil-corp-totalenergies-assessing-high-impact-drilling-opportunities-south-of-venus-oil-giant-offshore-namibia

"Report: ‘Big 3 offshore drillers’ reporting increasing day rates, ‘robust’ outlook"

https://www.offshore-mag.com/rigs/article/55131450/report-big-3-offshore-drillers-reporting-increasing-day-rates-robust-outlook

Thank you. I appreciate the info!

That area has yet to be tapped and so Total will have a need for rigs. So depending on utilization rate (90%+) they may need to pull from cold storage

https://finance.yahoo.com/news/totalenergies-tte-signs-exploration-deal-124900662.html

I have no idea why they would issue a separate form 4"s for each entity. I may be some type of Swiss idiosyncrasy. Sort of under the account name of Perestroika but with Mohn being the person named to trade it and an officer of the company. Insider cow always shows it as 3 separate buys when they are purchased.

http://www.insidercow.com/

P.S. I am watching a patch of water of the coast of Equitorial west African That TOTAL has a financial interest in. I see Rig has a floater contracted by Total of Angola

World Oil and Offshore Mag Post info about this on "X"

Do tell!

What would that mean? More Rigs?

No. I'm gonna have to disagree with you. I'm still gonna go with One and the same. ;)

(Each having around 89.5 Million shares would just be a weird coincidence, right? )

I'm going to base this on what the filings state at the bottom - in green

Perestroikas filing
https://www.sec.gov/Archives/edgar/data/1451505/000141588924020700/xslF345X05/form4-08052024_100807.xml

Explanation of Responses:
Remarks:
Perestroika (Cyprus) Ltd. is a wholly owned subsidiary of Perestroika AS. Due to Perestroika AS's designation of a member of the board of directors of the Company, Perestroika (Cyprus) Ltd. may be deemed to be a director of the Company by deputization. Perestroika AS's right to designate a member of the Company's board of directors has since terminated.

and then...

Mohn's recent filing
https://www.sec.gov/Archives/edgar/data/1451505/000141588924020696/xslF345X05/form4-08052024_100805.xml


Explanation of Responses:
1. These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

One and the same BUT...

Why two filings for the same shares? There must be a reason, aye? Is that how that works in a case like this. Since Perestroika is owned by Mohn's?

Curious minds want to know now!

There is Perestroika Mohn own.
Perestroika (Cyprus) Mohn has controlling interest in
Then his own personal holdings
Each has around 89.5 Million shares

P.S. I am watching a patch of water of the coast of Equitorial west African That TOTAL has a financial interest in. I see Rig has a floater contracted by Total of Angola

World Oil and Offshore Mag Post info about this on "X"

Motherlode-

All I know (which is very little) is Perestroika is a Norwegian investment company and Mohn owns it.

So one and the same on that one?

I'm not sure how this thing is set up.
There is:
Erestroika. Perestroika and Frederik W. Mohn holdings all listed as 10% owners with around 89.5 million shares. I don't know if these are three separate entities or not

Looks like that puts him at a total of 89,574,894 shares in the company.

Director and 10% Owner (cyprus) Perestroika Acquires 2,000,000 Shares of Transocean Ltd (RIG)

Sec filing:
https://www.sec.gov/Archives/edgar/data/1451505/000141588924020700/xslF345X01/form4-08052024_100807.xml

On August 2, 2024, (cyprus) Perestroika, serving as Director and 10% Owner, purchased 2,000,000 shares of Transocean Ltd (NYSE:RIG). The transaction was documented in a recent SEC Filing. Following this acquisition, the insider now holds a total of 89,574,894 shares in the company.

Transocean Ltd specializes in offshore drilling services for oil and gas wells. The company operates globally, providing technologically advanced and highly efficient drilling services.

The shares were bought at a price of $5.23 each, valuing the transaction at $10,460,000. This purchase reflects a positive sentiment as the stock's current GF Value is $5.40, indicating that the stock is Fairly Valued with a price-to-GF-Value ratio of 0.97.

Over the past year, (cyprus) Perestroika has increased their holdings by 5,000,000 shares, with no recorded sales. This trend is consistent with the overall insider activity at Transocean Ltd, which has seen 9 insider buys and only 1 insider sell over the same period.

https://finance.yahoo.com/news/director-10-owner-cyprus-perestroika-130108530.html?

This article is a little dated, but it does reference rig counts and offshore "Total" action in Angola:

"TotalEnergies is leading the packThe French major has imposed itself as the most active operator offshore Africa this year, with a total of eight rigs mobilised throughout 2023, including three in Angola, two in Nigeria, two in Namibia, and one in West Africa whose destination is yet to be disclosed.The company’s Namibian campaign represents $300 million of investment to appraise its Venus discovery, drill the Nara prospect, and execute drill stem tests (DSTs).In Nigeria, TotalEnergies is also drilling the Ntokon Central shallow water prospect on OML 102, but more importantly executing a multi-well deep-water campaign on its Egina and Akpo hubs within OML 130. Egina is notably experiencing a rapid production decline which the drilling campaign seeks to address. Up to nine wells are scheduled on both Egina and Akpo, including potential exploratory drilling of nearby prospects."

https://www.energyconnects.com/opinion/features/2023/june/africa-s-offshore-rigs-count-climbs-to-new-highs-amidst-drilling-frenzy/

another 2 million shares for Perestroika (Cyprus) Ltd

Probably not - but it certainly will trigger a press release. ;)

Thx Mr Mother ! I will try to get an Audition for the new Band ... " Cold Stack Rigs " as the Kaa Zoo player !! D Man

I wonder if they pull one out of cold stack. Will it generate an 8K?

I see you and I were both looking at the same thing.

I like that the cost to reactivate will be pushed onto the customer.

from conference call:

"With these contracts, our working fleet is more than 90% committed through the end of 2025. And based upon advanced discussions with our customers and reflecting LOIs and strong verbal commitments, we believe that aside from some small activity gaps, which could arise in our customer drilling programs, our fleet that is currently working could soon be completely booked well into 2026. As such, our customers may soon need to consider financing the reactivation of cold stacked assets to meet their future program requirements. We are certainly pleased with these new contract awards, some of which have been a long time in the making as they demonstrate materially increasing day rates and linked terms, which combined reinforce our confidence in the strength and longevity of the offshore drilling market."



"We believe it is likely the entire West Africa region will require at least four additional deepwater rigs from 2026 onwards, which could possibly require the reactivation of some currently cold stacked assets. Lastly, for the ultra-deepwater markets in India, we anticipate the award of Reliance's tender in the coming weeks and continue-the KG1 is well-placed to secure this program. Moving now to the high-specification harsh environment market, assuming outstanding options are exercised, the Transocean fleet is effectively sold out through 2025. Looking ahead, we believe Norway will be undersupplied by two rigs in 2026."

8/2/2024



https://finviz.com/quote.ashx?t=RIG&ty=c&p=d&b=1

If you goto the conference call transcript and hit (ctrl F). type in cold all references to cold stacks will come up and you can get a sense of what they are talking about

Yen carry trade blows up, markets tank. John gets happy. AIA Weekly Report 8.3.24

Greetings Thx ... Surfer, Eastunder for your response . D Man will be Holding .

Doug, in the transcript - this is pretty much what they were talking about on the Final Trade video...

So in the prepared remarks, it was global offshore greenfield exploration and production investments are projected to grow to $110 billion in-that's up 129% from $48 billion in 2024. And so, that is what we believe is going to be driving the incremental five to 10 rigs that we discussed earlier on the call in one of the Q&A sessions. So I mean, just that level of incremental capital is obviously going to lead to an increase. And so, that's really what's giving us the kind of the confidence that we will see an increase in rig count.

And since we're already at 98% utilization on the active fleet, this is going to lead to customer finance reactivations. And so, that does give us some confidence that we will ultimately begin reactivating some assets here in the not-too-distant future.

Transocean (RIG) Q2 2024 Earnings Call Transcript

https://finance.yahoo.com/m/e6c557a7-ecb9-3c65-a69a-b91322c6a7f0/transocean-%28rig%29-q2-2024.html

Deep sea mining?

Have they ever discussed that possibility? I don't see why they would need to venture into that.

Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.

RIG was mentioned on halftime report. The bull case being the cold stacked RIG's coming back.

Market is dragging everything down.

Hey, Dont understand why this is going South All the rigs are Sold out into 2026 So I heard on the C /Call Over 500 k per day !! Why is this not good news ? Sorry if my questions are dumb. I Know nothing about this Business or its history . I took a small position 2500 shares , because I thought Deep Sea mining would benifit RIG Regards D Man Should I Bail now ?? Im about even as of today . Thanks to all for any advice Doug, Toronto Can

Could be market related then. I saw that the manufacturers report came out close to 11am, and it was not good.

It's hard to say exactly what's going on here. Brent NS oct future just went negative and there is a lot of talk (business channels) about the faint smell of recession. however, your guess is as good as mine

P.S. I doubt the conference call all that inspiring

Okay, thanks. Had a big drop around 11am ET

Don't know I always wait for the transcript.

Bad conf call?

STEINHAUSEN, Switzerland, July 31, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a 1,095-day contract for the Deepwater Invictus with bp in the U.S. Gulf of Mexico. The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $531 million in backlog, excluding additional services and a mobilization fee

Hey Kids, Any thoughts , insights, leaks, gut feelings... on Earnings for Wednesday ?? GLTA D Man

correction an increase of 24.88 million not 14.88

Short % as of 7/15/2024 was 24.78%. An increase of 14.88 million with an increase of 8.43 days to cover

Hey all you RIGGERS ... Wow !! What a day ! Mother L .. Your post about short % .... Pls Explain. Thx GLTA Go RIG D Man

Short % as of 6/28/2024 was 21.04%

RIG cpps $5.60 (+.34 )

STEINHAUSEN, Switzerland—July 24, 2024—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 Atlas – Awarded a four-well contract in the U.S. Gulf of Mexico at a dayrate of $505,000,
with contingencies to perform three completions at the same dayrate.

• Deepwater Atlas – Awarded a two-well contract for drilling operations in the U.S. Gulf of Mexico
at a dayrate of $580,000 with contingencies to perform two 20K completions at a dayrate of
$650,000.

• Deepwater Asgard – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate
of $515,000.

• Deepwater Invictus – Awarded a 40-day contract extension in the U.S. Gulf of Mexico.
• Transocean Norge – Awarded a three-well contract extension in Norway at a current dayrate of
$517,000.

• Transocean Spitsbergen – Awarded a three-well contract extension in Norway at a current dayrate
of $483,000.

• Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of
$390,000.

• Deepwater Mykonos – Customer exercised a 279-day option in Brazil at a current dayrate of
$366,000.

The aggregate incremental backlog associated with these fixtures is approximately $656 million. As of July
24, 2024, the company’s total backlog is approximately $8.8 billion.

The report can be accessed on the company’s website: www.deepwater.com.

Transocean Ltd. Provides Quarterly Fleet Status Report
July 24 2024 - 5:15PM

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 Atlas – Awarded a four-well contract in the U.S. Gulf of Mexico at a dayrate of $505,000, with contingencies to perform three completions at the same dayrate.

Deepwater Atlas – Awarded a two-well contract for drilling operations in the U.S. Gulf of Mexico at a dayrate of $580,000 with contingencies to perform two 20K completions at a dayrate of $650,000.

Deepwater Asgard – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate of $515,000.

Deepwater Invictus – Awarded a 40-day contract extension in the U.S. Gulf of Mexico.

Transocean Norge – Awarded a three-well contract extension in Norway at a current dayrate of $517,000.

Transocean Spitsbergen – Awarded a three-well contract extension in Norway at a current dayrate of $483,000.

Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of $390,000.

Deepwater Mykonos – Customer exercised a 279-day option in Brazil at a current dayrate of $366,000.

The aggregate incremental backlog associated with these fixtures is approximately $656 million. As of July 24, 2024, the company’s total backlog is approximately $8.8 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.