---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-23-000021"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T06:48:33.198689+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Transocean Q4 net loss widens to $350M; revenue down 12% sequentially

## Summary
- Net loss attributable to controlling interest of $350M ($0.48/diluted share) vs $28M in Q3 2022.
- Contract drilling revenues $606M, down from $691M in Q3; adjusted EBITDA $140M vs $268M.
- Revenue efficiency improved to 98.0% from 95.0% in prior quarter.
- Contract backlog $8.5B as of Feb 2023; CEO notes $4B in incremental backlog added in 2022.
- Full year 2022 net loss $621M ($0.89/diluted share); adjusted net loss $648M.

## SEC filing metadata
- accession: 0001451505-23-000021
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000021/0001451505-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000021/rig-20230221x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-23-000021
- JSON: https://secwatch.observer/filing/0001451505-23-000021.json
- Plain text: https://secwatch.observer/filing/0001451505-23-000021.txt

## Key facts
- Earnings Releases
  Transocean Ltd. reported financial results for fourth quarter and full year 2022.
  - Period: fourth quarter and full year 2022
  - Result: reported results
  source text: Transocean Ltd.’s press release dated February 21, 2023, concerning financial results for the fourth quarter and full year 2022, furnished as Exhibit 99.1 to this report, is incorporated by reference herein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000021/0001451505-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.