Transocean LTD. (RIG – Analyst Report) is a Houston based international provider of offshore contract drilling services for oil and gas wells. The company offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and project management services.
 
Some of their products, such as the Ultra-Deepwater Dual-Activity Drillship called the “Deepwater Asgard” have a maximum drilling depth of 40,000 feet. That is just over 7 miles deep. To put that in perspective, 7 miles equates to roughly 23 Sears Towers and 2 Mount Kilimanjaros stacked on top of one another.
 
Currently, Transocean has a Zacks Rank #3 (Hold), which is subject to change following the release of the company's latest earnings report. We have highlighted some of the key statistics from this just announced report below:
 
Earnings: Transocean crushed our consensus EPS prediction of $0.50 for the quarter, listing a $1.11 EPS for Q2.
 
Revenues: Transocean's revenues beat out our consensus estimate. The company posted $1.883 billion in revenues, compared to our $1.701 billion estimate.
 
Key Statistic to Note:
 
Transocean's fleet of rigs is scattered across all regions of the globe. Wherever there are major pockets of oil beneath the Earth's crust, there will be a Transocean rig. The company lists 12 specific geographic locations where one can find a deepwater floater.
 
These locations are: Angola and Namibia, Australia, Canada, India and the Middle East, Nigeria, North Africa and the Mediterranean, Norway, Other Sub-Saharan Africa, South America, Southeast Asia, United Kingdom, and the U.S. Gulf of Mexico.
 
Stock Price: Transocean opened today at $12.46 per share and closed on the day at $12.32. After hours trading has been promising in that the stocks are up over 2%.
 
Check back for our full analysis on this Transocean's earning report later!