Transocean Ltd.
0QOW.L
London Stock Exchange6.01
USD
-0.01
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Transocean Ltd.
0QOW.L
(London Stock Exchange)
Recent
price
6.01
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Transocean Ltd. is the world's largest offshore drilling contractor based on revenue and provides contract drilling services for oil and gas wells. The company owns and operates a versatile fleet of approximately 34 mobile offshore drilling units, including 26 ultra-deepwater floaters such as dynamically positioned drillships and semi-submersibles capable of operating in water depths exceeding 7,500 feet, and eight harsh environment floaters designed for challenging conditions; it specializes in technically demanding deepwater and harsh environment segments, offering rig-based well construction services with integrated crews, equipment, and technology worldwide. Transocean serves major integrated oil companies, national oil companies, and independent exploration and production firms through multi-year contracts that emphasize safety, efficiency, and regulatory compliance. Founded through mergers tracing roots to 1953 with predecessors like The Offshore Company, Transocean maintains its principal executive offices in Steinhausen, Switzerland, with operations across 20 countries spanning North America, South America, Norway, UK North Sea and Northern Europe, Black Sea, Mediterranean, North and Sub-Saharan Africa, Middle East and South Asia, and Australia and Southeast Asia. In 2024, Transocean secured 22 new contract awards adding $2.4 billion to its backlog, achieving 96% active fleet utilization for 2025 at industry-leading dayrates including a $500,000 per day one-year contract for the Deepwater Asgard and a $600,000 per day award for the Deepwater Atlas; the company entered merger discussions with Seadrill in October 2024 to consolidate market share, deepened its offshore wind strategy through a 2025 joint venture with Eneti for new wind turbine installation vessels following their 2023 foundation installation partnership, and invested in DEME Group's Global Sea Mineral Resources in 2023-2024 by contributing the Ocean Rig Olympia drillship for deep-sea mineral exploration supporting renewable supply chains.