TOJ.DU - TRANSOCEAN LTD. SF 0,10

Dusseldorf - Dusseldorf Delayed price. Currency in EUR
5.50
0.00 (0.00%)
At close: 8:10AM CEST
Stock chart is not supported by your current browser
Previous close5.50
Open4.84
Bid0.00 x 0
Ask0.00 x 0
Day's range4.84 - 4.84
52-week range4.72 - 8.76
Volume700
Avg. volume0
Market capN/A
Beta (3Y monthly)N/A
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Brazil's Oil Flop Is a Warning for Majors and Aramco
    Bloomberg

    Brazil's Oil Flop Is a Warning for Majors and Aramco

    (Bloomberg Opinion) -- Royal Dutch Shell Plc made a big investment in offshore energy this week — wind energy, that is. The very next day, Brazil announced the results of a more traditional energy auction in the waters off its coast. They were not good.The country’s biggest-ever sale of oil deposits flopped on Wednesday morning. Only two out of four blocks were sold, and only one of those involved foreign bidders, with China’s CNOOC Ltd. and China National Oil and Gas Exploration and Development Co. taking all of 10% of the Buzios field. Petroleo Brasileiro SA took the other 90% and all of the Itapu block. Western oil majors, such as Shell or Exxon Mobil Corp., were nowhere to be seen.Offshore oil investment was all the rage among Big Oil during the supercycle, with capital expenditure almost quadrupling in the decade up to 2014. That is the problem. The majors poured money into large, multi-year projects prone to delays and, because of their often bespoke engineering, spiraling budgets. The result: tumbling return on capital and an inability to dial back investment quickly when the oil crash hit in 2014. Roughly 3,000 new offshore projects sanctioned between 2010 and 2014 have either barely generated any value for oil companies or are expected to generate none at all, according to a recent study published by Rystad Energy, a consultancy:More recent investments score better, mostly because the boom tailed off, with offshore capex falling by more than half between 2014 and 2018. That took the heat out of industry inflation; and, because of the bonfire of returns in the prior decade, oil majors got smarter about such things as standardizing offshore equipment design to cut costs and shorten schedules. The pace of new projects has picked up again after the slump. Exxon, for example, has effectively opened up an entire new offshore zone with its Guyanese fields.Still, one look at the stock prices of oilfield services firms, especially offshore-focused types such as Transocean Ltd. and Noble Corp. Plc, tells you this investment wave is nothing like the tsunami of yesteryear. Bad memories combined with unease about both near- and long-term oil demand make bold bets on big, multi-year offshore projects a tough sell with investors more interested in payouts. Even Exxon’s success in Guyana gets overshadowed by the fact that the company’s capex bill leaves it borrowing to pay its dividend. And Exxon, like Chevron Corp. and other majors, has swung more of its spending toward shorter-cycle onshore fracking in North America.Brazil’s brush-off is an ominous sign the investment discipline demanded by energy investors is choking off one of the world’s biggest sources of oil-supply growth. In its latest World Oil Outlook published this week, OPEC cited Brazil as being second only to the U.S. in terms of medium-term growth, and number one in terms of projected long-term non-OPEC growth. Bob Brackett, an analyst at Sanford C. Bernstein, published a report a couple of weeks ago pondering if global offshore oil supply would peak next year, perhaps for good.The implications are profound. There is a wide range of views on when global oil demand will slow or peak altogether. If it is later than sometime next decade, then the decline in offshore production that will inevitably follow a mass exodus from this part of the business could stoke another upcycle in prices. The Brazil auction suggests, however, that such possibilities play second fiddle to expectations on the part of many investors that oil has entered its twilight years.Such results are ominous for offshore services providers, of course, and for the countries involved. Brazil’s currency slumped Wednesday morning as the market digested the lack of foreign capital targeting the country’s choicest oil resources.Another country that should take note is Saudi Arabia. Like Brazil, it’s trying to tempt foreign buyers to pay up for a piece of its black gold. On the same morning, reports emerged that Saudi Arabian Oil Co. is seeking commitments from Chinese state-owned entities to invest in its IPO. Such strategic buyers do provide cash. But as Brazil could tell Aramco, turning to them also says a lot about the broader appetite for what you’re selling.To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • What Kind Of Shareholder Appears On The Transocean Ltd.'s (NYSE:RIG) Shareholder Register?
    Simply Wall St.

    What Kind Of Shareholder Appears On The Transocean Ltd.'s (NYSE:RIG) Shareholder Register?

    The big shareholder groups in Transocean Ltd. (NYSE:RIG) have power over the company. Large companies usually have...

  • Shares of Transocean Ride Rising Oil Prices 10% Higher
    Motley Fool

    Shares of Transocean Ride Rising Oil Prices 10% Higher

    This volatile offshore oil rig stock is riding high today.

  • Oil & Gas Stock Roundup: Eni, TC Energy, Pioneer Natural Q2 Earnings
    Zacks

    Oil & Gas Stock Roundup: Eni, TC Energy, Pioneer Natural Q2 Earnings

    Eni (E) reported comprehensive earnings miss, TC Energy's (TRP) bottom line matched the Zacks Consensus Estimate, while Pioneer Natural Resources (PXD) outperformed our profit projection.

  • Why Noble Stock Soared More Than 20% in July
    Motley Fool

    Why Noble Stock Soared More Than 20% in July

    Investors started to get a bit more optimistic about the offshore drilling sector.

  • RigNet Continues to Muddle Along
    Motley Fool

    RigNet Continues to Muddle Along

    The provider of remote communications solutions is seeing several positives that have it increasingly optimistic about what lies ahead.

  • Transocean Ltd (RIG) Q2 2019 Earnings Call Transcript
    Motley Fool

    Transocean Ltd (RIG) Q2 2019 Earnings Call Transcript

    RIG earnings call for the period ending July 30, 2019.

  • Why Offshore Drilling Stocks Are Soaring Today
    Motley Fool

    Why Offshore Drilling Stocks Are Soaring Today

    Oil prices and earnings are fueling the sector today.

  • 3 Top Stocks Under $20
    Motley Fool

    3 Top Stocks Under $20

    Even the smallest of savers can get in on the individual stock-investing action.

  • 3 Top Oil Stocks to Buy Right Now
    Motley Fool

    3 Top Oil Stocks to Buy Right Now

    Looking to buy oil stocks? Here are three serious contenders for your portfolio.

  • Here's where oil prices may be headed
    Yahoo Finance

    Here's where oil prices may be headed

    Oil prices are now in a bear market. But, the surprising slide may not yet be over. Here's one worse-case scenario.

  • Is Transocean a Buy?
    Motley Fool

    Is Transocean a Buy?

    Based on the book value of its assets, yes. But that's only if the company can turn those assets into greater cash flow going forward.

  • Oil Stocks Are Falling Today With Lower Oil Prices
    Motley Fool

    Oil Stocks Are Falling Today With Lower Oil Prices

    A sharp oil drop and news of record U.S. oil production sparked a sell-off in oil services stocks.

  • Why Transocean Stock Is Sinking Today
    Motley Fool

    Why Transocean Stock Is Sinking Today

    The offshore-drilling contractor continues to lose money.

  • Transocean Ltd (RIG) Q1 2019 Earnings Call Transcript
    Motley Fool

    Transocean Ltd (RIG) Q1 2019 Earnings Call Transcript

    RIG earnings call for the period ending March 31, 2019.

  • Associated Press

    Transocean: 1Q Earnings Snapshot

    The Steinhausen, Switzerland-based company said it had a loss of 28 cents per share. Losses, adjusted for one-time gains and costs, were 30 cents per share. The results fell short of Wall Street expectations. ...

  • Reuters

    U.S. court voids $160 million award against Italy's ENI in Transocean suit

    A three-judge panel found the lower court miscalculated damages because it used a standby rate to determine what Eni would have paid Transocean to complete the contract. It sent the damages decision back to the District Court to recalculate damages based on what work the rig could have performed. Transocean declined to comment on the ruling.

  • Reuters - UK Focus

    Offshore oil drilling stocks are bargains -Barron's

    Offshore oil drilling stocks are set to rise with a projected rebound in deepwater drilling after its deepest downturn in 30 years as investment capital rushed to land-based shale drilling, analysts said in a Barron's article. Evercore ISI analyst James West favors Transocean Ltd , Ensco PLC, Rowan Cos PLC and Diamond Offshore Drilling Inc, he told Barron's. Last month, shareholders at Ensco and Rowan agreed to merge. West called Transocean "the best-managed company in the group" and told Barron's the company "has plenty of room for improvement" after its December purchase of Ocean Rig UDW, which operated semi-submersible oil platforms and underwater drillships.

  • Transocean Positions Itself for a Rebound in 2019
    Motley Fool

    Transocean Positions Itself for a Rebound in 2019

    The company's fourth-quarter earnings were unremarkable, but management continues to get ready for the long-awaited recovery of offshore drilling.

  • Transocean Ltd (RIG) Q4 2018 Earnings Conference Call Transcript
    Motley Fool

    Transocean Ltd (RIG) Q4 2018 Earnings Conference Call Transcript

    RIG earnings call for the period ending December 31, 2018.

  • Associated Press

    Walmart, D.R. Horton rise; Transocean, Weight Watchers fall

    Stocks that moved substantially or traded heavily on Tuesday: Walmart Inc., up $2.21 to $102.20 The giant retailer's earnings beat analysts' forecasts as online sales grew, as did its grocery pickup and ...

By using Yahoo, you agree that we and our partners can use cookies for purposes such as customising content and advertising. See our Privacy Policy to learn more