Transocean and Valaris present Q1 losses

The rig market may be improving, however, like Noble Corp., both Transocean and Valaris booked losses for the year’s first quarter.

Photo: PR/Transocean

Increasing activity and higher day rates may characterize the offshore drilling market, but the operating income among major rig companies is still under pressure.

This is evident from the quarterly reports put forth by rig companies Valaris and Transocean. Both saw a net deficit in the first quarter compared to the fourth quarter last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Latest News

See all jobs