pabst_ell Transocean Ltd. (NYSE:RIG) is set to finish 2023 with an impressive gain, returning nearly 50%. Despite volatile conditions in the energy market, the understanding is that this segment of offshore drilling services remains in a "multi-year upcycle" as exploration and production giants add spending to replace hydrocarbon reserves. The company is benefiting from a fleet transformation by focusing on its strengths in ultra-deepwater and "harsh environment" offshore drilling floaters. In many ways, th ...