Transocean Is Struggling With Free Cash Flow
Transocean(RIG) Gurufocus·2024-07-19 21:00
Transocean Ltd. (RIG, Financial) released its first-quarter 2024 results and its latest fleet status report in April. The contract backlog was $8.90 billion, down from $9 billion in the preceding quarter. However, the company has been awarded a few more contracts since then. For instance, on June 4, the company announced that three harsh-environment semi-subs (Transocean Spitsbergen, Transocean Norge and Transocean Endurance) were contracted for $161 million. Later that month, on June 26, it revealed that D ...