Transocean to Retire Some Rigs, Take 3Q Charge
September 03 2019 - 06:07PM
Dow Jones News
By Stephen Nakrosis
Transocean Ltd. (RIG) said Tuesday it was planning to retire
three oil rigs and take a related non-cash charge of $580 million
in its third quarter.
In a filing, the company said it planned to retire the
ultra-deepwater floater Discoverer Enterprise and its sister ships
Discoverer Spirit and Discoverer Deep Seas.
The rigs are being classified as held for sale, the company
said.
Transocean also said it is evaluating the long-term
competitiveness of its fleet, adding "additional rigs may be
identified as candidates for retirement."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 03, 2019 17:52 ET (21:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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