From GlobeNewswire:

Transocean Ltd. reported a net loss of $104 million for the three months ended December 31, 2023. Contract drilling revenues increased by $28 million to $741 million due to higher daily revenue and fleet efficiency. Operating and maintenance expenses were $569 million, a $45 million increase from the prior quarter. Adjusted EBITDA for the quarter was $122 million.

The company added $3.2 billion in backlog in 2023, finishing the year with a 97.6% uptime performance. Full year net loss attributable to controlling interest was $954 million. Transocean specializes in offshore drilling services and operates a fleet of 36 mobile offshore drilling units. They are constructing one ultra-deepwater drillship. The company’s website provides quantitative reconciliations to U.S. GAAP measures for non-GAAP financial measures.

Transocean will conduct a teleconference on February 20, 2024, at 9 a.m. EST to discuss the results. Participants can dial +1 785-424-1226 and refer to conference code 932678. A replay of the conference call will be available at +1 402-220-2660, passcode 932678, and on the company’s website. The statements described in the news are forward-looking statements and are subject to inherent uncertainties, risks, and changes in circumstances. Factors that could cause actual results to differ include estimated duration of customer contracts, future contract commencement dates, and global oil and gas prices.



Read more: Transocean Ltd. Reports Fourth Quarter and Full Year 2023