Transocean scraps four rigs and takes big loss

Transocean has not been able to find a buyer, so the company will scrap four rigs and book a loss of USD 300-325 million. And the drilling company will also idle four rigs.

Photo: North Atlantic Drilling

Maersk Drilling's competitor Transocean Ltd. is along with the rest of the industry effected by the unfavorable conditions and is now noting the consequences by pulling four ultra-deep seas drilling rigs off the market.

The move concerns rigs Discover Spirit, GSF Jack Ryan, Deepwater Discovery and Deepwater Pathfinder, which have been unemployed for a long time and will now be idled, says Transocean in a statement.

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