DOFSQ - Transocean - 2020 Notes Are Attractive As Near-Term Debt Restructuring Looks Unlikely
Note:
I have covered Transocean (NYSE:RIG) previously, so investors should view this as an update to my earlier articles on the company.
Last week, leading offshore driller Transocean reported Q1/2020 results largely in line with expectations but on the conference call lowered its full-year contract drilling revenue outlook by 10% "due to contracts being deployed and contract adjustments recently negotiated with our customers" which is very much in line with general industry expectations stated by leading energy intelligence firm Rystad Energy last month.
Photo: 7th Generation Ultra-Deepwater Drillship "Deepwater Proteus" -