Marine Link
Friday, September 30, 2016

Transocean Reports Q2 2013 Revenue Increase

August 7, 2013

Photo courtesy of Transocean

Photo courtesy of Transocean

Transocean's second quarter 2013 revenues were US$2.397-billion, compared with US$2.197-billion in the first quarter of 2013.

Financial highlights:

  • Operating and maintenance expenses for the second quarter were $1.393 billion, compared with $1.375 billion in the first quarter of 2013;
  • Second quarter 2013 net income attributable to controlling interest was $307 million, which included $85 million of net unfavorable items. This compares with the first quarter 2013 net income attributable to controlling interest of $321 million, which included $16 million of net unfavorable items;
  • Second quarter Annual Effective Tax Rate(1) was 23.5 percent, compared with 19.2 percent in the first quarter of 2013;
  • Second quarter 2013 net income attributable to controlling interest was $0.84 per diluted share.  After adjusting for net unfavorable items, adjusted earnings from continuing operations were $392 million, or $1.08 per diluted share;
  • Cash flows from operating activities were $416 million in the second quarter, compared with $106 million in the first quarter of 2013;
  • Revenue efficiency(2) was 93.1 percent in the second quarter, compared with 88.0 percent, in the first quarter of 2013. Ultra-deepwater revenue efficiency was 91.1 percent, compared with 83.8 percent in the prior quarter;  
  • Total fleet rig utilization(3) was 80 percent in the second quarter, unchanged from the first quarter of 2013; and
  • Contract backlog was $27.3 billion as of the July 17, 2013 Fleet Status Report.  Since July 17, 2013, additional contracts totaling $460 million were secured.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News