Transocean Ltd. (RIG): restructuring charge — Transocean sells Deepwater Nautilus rig for $53.5M; expects $140-150M Q2 impairment charge

Transocean Ltd.

Sale of Deepwater Nautilus for $53.5M; estimated non-cash impairment charge of $140-150M in Q2 2024.
Rig is a fifth-generation ultra-deepwater floater; sale authorized June 17, agreement signed June 19.
Transaction expected to close in Q3 2024; part of ongoing disposal of non-strategic assets.

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 $140 million and $150 million affecting deepwater floater Deepwater Nautilus and associated assets.

Type: impairment
Charge: $140 million and $150 million
Affected area: deepwater floater Deepwater Nautilus and associated assets

Exact text from the filing

the Company decided on June 17, 2024, to authorize the sale of the rig and associated equipment, which the Company expects will result in an estimated non-cash charge for the second quarter 2024 ranging between $140 million and $150 million associated with the impairment of such assets.

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Transocean Ltd. filing history →

Source: SEC EDGAR

accession 0001451505-24-000078

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