RIG — what changed in the latest 10-Q
A section-by-section comparison of RIG's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-03 vs the prior 10-Q · 2026-08-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +29 | −24 | ~29 | 44 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | +2 | −2 | ~1 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | −1 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-03
◾our expectations regarding the timing, completion and anticipated benefits of the proposed business combination (the “Business Combination”) with Valaris Limited, an exempted company limited by shares incorporated under the laws of Bermuda (“Valaris”);
◾the Amended and Restated Credit Agreement, as defined in this periodic report, including its expected effectiveness upon the closing of the Business Combination and the terms thereof, and availability of borrowings under the Secured Credit Facility established thereunder;
◾the availability of borrowings under our Secured Credit Facility, as well as the timing of any amendments thereto, including the satisfaction or waiver of the conditions to effectiveness of the Amended and Restated Credit Agreement not within our control; and
Amended and Restated Credit Agreement—In October 15, 2026, we entered into an amended and restated bank credit agreement (the “Amended and Restated Credit Agreement”), which, upon its effectiveness, will amend and restate the existing credit agreement dated June 22, 2018 (the “Existing Credit Agreem…
Disposal of assets—In the nine months ended September 30, 2026, we completed the sale of the ultra-deepwater drillships Deepwater Champion, Discoverer India and the harsh environment semisubmersible Henry Goodrich, together with related assets, for aggregate net cash proceeds of $30 million. See Not…
Text removed vs the prior filing · source: 10-Q · 2026-08-07
◾our expectations regarding the timing, completion and anticipated benefits of the proposed business combination (the “Business Combination”) with Valaris Limited, an exempted company limited by shares incorporated under the laws of Bermuda (“Valaris”);
◾the availability of borrowings under our Secured Credit Facility, as well as the timing of any amendments thereto; and
Disposal of assets—In the six months ended June 30, 2026, we completed the sale of the ultra-deepwater drillships Deepwater Champion and Discoverer India, together with related assets, for aggregate net cash proceeds of $27 million, including $3 million received as a deposit in the year ended Decemb…
Debt redemption—In March 2026, we made a cash payment of $365 million, including an early redemption premium, to retire the outstanding $358 million aggregate principal amount of the 8.375% senior secured notes due February 2028 (the “8.375% Senior Secured Notes”). See “—Liquidity and Capital Resour…
Exercised warrants—In April 2026, we issued 9.7 million Transocean Ltd. shares as net settlement of 22.2 million warrants exercised by holders to purchase our shares. See “—Liquidity and Capital Resources.”
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-11-03
On December 17, 2021, Transocean Offshore Deepwater Drilling Inc. (“TODDI”), our wholly owned subsidiary, received a letter from the United States (“U.S.”) Department of Justice (the “DOJ”) related to alleged violations by our subsidiary of its Clean Water Act (“CWA”) National Pollutant Discharge El…
the Consent Decree, (ii) to appoint an independent auditor to review, audit and report on our compliance with certain of our obligations thereunder, and (iii) to certain non-exclusive stipulated monetary penalties if we fail to comply with applicable provisions of the Consent Decree. We may request …
Text removed vs the prior filing · source: 10-Q · 2026-08-07
provide no assurance that our beliefs or expectations as to the outcome or effect of any lawsuit or claim or dispute will prove correct, and the eventual outcome of these matters could materially differ from management’s current estimates.
On December 17, 2021, Transocean Offshore Deepwater Drilling Inc. (“TODDI”), our wholly owned subsidiary, received a letter from the United States (“U.S.”) Department of Justice (the “DOJ”) related to alleged violations by our subsidiary of its Clean Water Act (“CWA”) National Pollutant Discharge El…
Other information
Text removed vs the prior filing · source: 10-Q · 2026-08-07
On May 22, 2026, Mr. Brady K. Long, our Executive Vice President and Chief Legal Officer, adopted a Rule 10b5-1 trading arrangement, as such term is defined under Item 408(a) of Regulation S-K of the Securities Act of 1933, that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for th…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice