Transocean Set For Success To $77
Transocean has been a stock we have been watching closely recently. They have been working hard towards success in their offshore operations. Analysts are expecting Transocean’s stock to grow to $77, and the Trefis Team explains how RIG will get there.
" Ultra Deepwater segment driving contract activity
Transocean added $1.5 billion in new contracts in Q2 with offshore activity being driven by new discoveries in Ghana, Vietnam, Brazil and the U.S. Gulf of Mexico.  The resumption of activity in the Gulf of Mexico, the commencement of operations of Deepwater Champion in the Black Sea and an improvement in revenue efficiency led to an increase in the profitability in the segment.
With the ultra deepwater market tightening, Transocean finished a $7 billion program to add 10 new rigs that would help it expand to become the largest player in the high-spec segment.
Transocean is also continuing its efforts to reduce its exposure to the low-spec segment with the sale of three Jackups and a swamp barge. Day rates and utilization in the Ultra deepwater segment are much higher than in other segments because of the fewer number of rigs that can operate in the demanding conditions."
Read the entire article here: http://turnkeyoil.com/2011/08/25/transocean-set-for-success-to-77/