Transocean weighed down by idle rigs in third quarter

Drilling major Transocean took a setback in the third quarter during which one-time expenses and contract expirations pulled down the results. CEO is optimistic, however, particularly due to rising oil prices.

Photo: Daniella Beccaria/AP/Ritzau Scanpix

Transocean reports a decline in the third quarter during which one-time expenses and rigs dragged down the results.

The US-based drilling major achieved a revenue of USD 626 million, down USD 30 million from USD 656 million in the second quarter of the year, shows the interim report.

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