Marine Link
Wednesday, August 10, 2022

Transocean Swings to Loss on Falling Revenue

Maritime Activity Reports, Inc.

May 6, 2015

Transocean Ltd., one of the world's top offshore drilling companies, reported a first-quarter loss on Wednesday as oil exploration and production companies rent out fewer of its rigs because of tumbling crude prices.
 
The net loss was $483 million, or $1.33 per diluted share, down from a profit of $456 million, or $1.25 a diluted share in the same period a year ago, before oil prices plunged 50 percent.
 
First quarter 2015 results included $881 million of one-time items that hurt the company's bottom line as it puts some older equipment up for sale or scraps parts of its fleet in a market widely seen as oversupplied.
 
 
(Reporting By Terry Wade)

Subscribe for
Maritime Reporter E-News

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