Susquehanna Upgrades Transocean (RIG) to Neutral

Transocean Ltd. Reports Second Quarter 2016 Results

Contract drilling revenues were $918 million, compared to $1.11 billion in the first quarter of 2016; Other revenues were $25 million, compared with $230 million in the prior quarter; Operating and maintenance expense was $500 million, down from $665 million in the prior period; Net income attributable to controlling interest was $77 million, $0.21 per diluted share, compared with $249 million, $0.68 per diluted share, in the first quarter of 2016; Adjusted net income was $64 million, $0.17 per diluted share, excluding $13 million of net favorable items. This compares with $254 million, $0.69 per diluted share, in the prior quarter, excluding $5... More