RIG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Drilling market—Our industry outlook remains positive, supported by numerous long-term forecasts indicating that hydrocarbons will continue to be the dominant source of energy for the foreseeable future. Indeed, many operators are increasingly redirecting capital investment to the exploration and pr…

• More recently, persistent geopolitical instability, including the conflict in the Middle East, has highlighted significant hydrocarbon constraints in the supply chain. As a result, governmental policy makers are reassessing their energy strategies and are prioritizing energy security, taking steps t…

• Consistent with our prior expectations, overall tendering activity and contract awards increased during the first half of 2026 and additional contract awards are anticipated for projects commencing in 2027 and 2028. Demand for ultra-deepwater rigs remains robust and is expanding geographically, with…

• In June 2026, we entered into an agreement with Equinor ASA, conditional upon receipt of license approvals, for three harsh environment semisubmersible rigs. The contract, once approved, represents $1.0 billion of incremental contract backlog, excluding additional services, which is not included in …

• Costs and expenses—Operating and maintenance costs and expenses increased for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to the following increases: (a) approximately $15 million resulting from personnel costs and (b) approximately $10 milli…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• Drilling market—Our industry outlook remains positive, supported by numerous long-term forecasts indicating that hydrocarbons will continue to be a critical source of energy for the foreseeable future. In response to supply chain constraints, limitations of renewable energy technologies, and persist…

• In the context of the natural depletion of existing fields, maintaining current oil and natural gas production levels will require both the development of existing resources and continued investment in exploration to identify new reserve opportunities. We believe that oil and natural gas producers w…

• While the long-term outlook for offshore drilling activity remains positive across all major deepwater sectors, we expect our customers to continue to exercise capital discipline. Consistent with our prior expectations, tendering activity and contract awards increased during the first part of 2026. …

• revenue is defined as the greatest amount of contract drilling revenues the drilling unit could earn for the measurement period, excluding revenues for incentive provisions, reimbursements and contract terminations. The revenue efficiency rates for our fleet were as follows:

• Costs and expenses—Operating and maintenance costs and expenses decreased for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily due to the following: (a) a non-cash loss of $34 million in the earlier year resulting from an unfavorable legal outcome, …

Text added 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.

Text added 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…

• On July 2, 2026, Mr. Jason Pack, our Senior Vice President and Chief Accounting 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 the…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• During the three months ended March 31, 2026, no director or officer of Transocean adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.