What's Going On With Transocean Ltd Stock?

Transocean Ltd RIG shares are trading lower Friday and are down more than 14% over the last month.

What To Know:

On Thursday, Transocean released its quarterly fleet status report which included the following updates: 

Dhirubhai Deepwater KG1 – Awarded a 21-month contract in India for $347,500.

Deepwater Aquila – Awarded a three-year contract in Brazil for $448,000.

Dhirubhai Deepwater KG1 – Awarded a 60-day extension in India for $348,000.

Deepwater Invictus – Awarded a 20-day contract in the U.S. Gulf of Mexico for $440,000

Transocean stated the aggregate incremental backlog associated with the above fixtures is approximately $745 million, and the company's total backlog is approximately $9.4 billion.

Transocean Ltd is set to report its third-quarter financial results after the market close on Oct. 30 and will host a teleconference to discuss the results at 9:00 a.m. ET on Oct. 31. 

According to estimates from Benzinga Pro, the company is expected to report a loss of 22 cents per share and quarterly revenue of $725.41 million. 

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RIG Price Action: According to Benzinga Pro, Transocean Ltd shares are down nearly 3% at $7.18 at the time of publication.

Image: Angela from Pixabay