Transocean Ltd. (NYSE:RIG) Stock Jumps After The Recent Slump
Transocean Ltd. (NYSE:RIG) jumped 13% after issuing its quarterly Fleet Status Report providing the current status and contract information for its offshore drilling rigs fleet. The company said that a customer had exercised a well option for Deepwater Invictus in the US Gil fog Mexico. In contrast, Deepwater Skyros had a customer exercising a 370-day option in Angola.
In addition, a customer exercised two one-well options for Deepwater Nautilus, which has also been granted one-well contract. Notably, Discoverer Inspiration has received a 9-well deal in the US Gulf of Mexico, while Dhirubhai Deepwater KG2 has been granted a one-well contract, plus two one-well-option in Brunei. Petrobras 10000 received a two-year contract in Brazil.
Transocean Barents receive a two-well contract in Norway, but a customer terminated a contract for expediency. On the other hand, Transocean Spitsbergen saw a customer exercise a two one-2ell option while Transocean Norge also received four-well contracts, including five one-well options in the Nordic country. So in the coming months, RIG is a stock to keep an eye on.
Market Reaction:
On Wednesday, RIG stock gained 12.83% at $3.87 with more than 28.43 million shares, compared to its average volume of 25.67 million shares. The stock has moved within a range of $3.5500 – 3.9100 after opening the trade at $3.55. Over the past 52-week, the stock has been trading within a range of $0.6500 – 5.1300.
