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SHEL - Transocean: With Gulf Of Mexico Dayrates Soaring Company Expects To Reactivate Cold-Stacked Drillships Soon
Royal Dutch Shell PLC American Depositary Shares (each representing two (2))
Transocean reported uneventful fourth quarter results last week.
Latest fleet status report showed decent dayrate improvements in the Gulf of Mexico but the ongoing absence of long-term contracts resulted in backlog declining by $0.6 billion to $6.5 billion.
Company needs to extend its $1.3 billion credit facility and secure additional employment for the so-called CAT-D rigs, a quartet of semi-submersibles purpose-built to the specifications of Equinor.