Transocean buys Songa Offshore

Transocean is active in the market again. Here from Sysla today:

If this is true Transocean will get some very nice new rigs for Arctic operations, but also some that is due for the scrapyard:

That will make Frederik W. Mohn Transocean’s biggest shear holder and new member of the board.
So Transocean come full circle. It took the name when the American company Sonet bought a Norwegian company called Transocean, which in turn was a grouping of Norwegian drilling contractors that took the name Transocean when they bought a German company by that name.

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Made 6000 kr :stuck_out_tongue: bought 200 shares when it was on rock bottom, just for fun. It could have gone either way.

how about Transocean scrapping half of its fleet? Say everything built before 2000?

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They’ve been trying…

They got the money to buy Songa from selling the old Jackups to Borr Drilling ASA.

Borr will probably get rid of the old R&B and Maersk rigs from the 1980’s and keep the newer Keppel FELS B-type rigs that they got hold of.

One of the rigs that will be part of the Transocean fleet soon is in the news for a different reason:

More details on the Transocean/Songa merger: