Transocean Ltd. (RIG): restructuring charge — Transocean sells two rigs to Dolphin, takes $60M impairment; wins $184M drilling contract in Australia

Transocean Ltd.

Agreed to sell harsh environment floaters Paul B. Loyd Jr. and Transocean Leader to Dolphin Drilling; close expected Q4 2023.
Expects Q2 2023 non-cash impairment charge of ~$60M on assets classified as held for sale.
Awarded 16-well binding contract for Transocean Equinox in Australia; adds ~$184M backlog.
380-day campaign starts Q1 2025, with options that could extend work into 2028.
Contract follows previously announced 5-well commitment in Australia starting Q1 2024.

item 2.06 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Transocean Ltd. announced a impairment with charges of approximately $60 million.

Type: impairment
Charge: approximately $60 million

Exact text from the filing

the Company expects its second quarter 2023 results to include an estimated non-cash charge of approximately $60 million associated with the impairment of such assets.

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Transocean Ltd. filing history →

Source: SEC EDGAR

accession 0001451505-23-000076

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