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SWOT Summary (view, help) Strength: Mobile Offshore Drilling Units (0) Threat: Market Volatility-Credit Conerns (0) "Buy" Indicators (news, help) Insider Buying (enter symbol) Share Buybacks (see news) Takeover Speculation (see news) Analyst Upgrades (enter symbol) General Gloom and Doom (news) "Sell" Indicators (news, help) Insider Selling (enter symbol) Executive Turnover (enter symbol) High Analyst Ratings (enter symbol) General Euphoria (news) Corp. Governance & Pay (enter symbol)

Transocean, Inc. provides offshore contract drilling services for oil and gas wells. It contracts drilling rigs, related equipment, and work crews primarily on dayrate basis to drill oil and gas wells with a focus on deepwater and harsh environment drilling services. As of February 2, 2007, the company owned and operated 82 mobile offshore and barge drilling units, including 33 high-specification semisubmersibles and drillships, 20 floaters, 25 jackup rigs, and 4 other rigs. The company also provides other integrated services. Transocean primarily operates in the Far East, India, U.S. Gulf of Mexico, United Kingdom, Nigeria, the Mediterranean and Middle East, Brazil, Norway, other West African countries, Australia, Canada, the Caspian Sea, and Venezuela. The company was founded in 1953 and is based in Houston, Texas.

Transocean Inc. NYSE: RIG is the world's largest offshore drilling contractor. The company rents out floating, mobile drill rigs, along with the equipment and personnel needed for operations, to oil and gas companies at a daily rate that averaged $142,000 in 2006. Transocean's day rates currently extend as high as $650,000 for its deepwater drillships, which house dual activity derricks and are capable of drilling in ultra-deep ocean depths of 10,000 ft.

The company was spun-off from its parent, Birmingham, Alabama based Sonat Inc, in 1993 and was originally called Sonat Offshore Drilling, Inc. Sonat Offshore acquired the Norwegian group Transocean ASA in 1996 and adopted its name. In 2000 the company merged with Sedco Forex, and was renamed Transocean Sedco Forex. In 2001 the company bought Reading & Bates Falcon. The name of the company was simplified to Transocean in 2003.

Sedco Forex was originally part of Schlumberger until 2000 when it was spun off. Sedco Forex was originally formed from the merger of two drilling companies, the Southeast Drilling Company (Sedco) and French drilling company Forex.
Transocean employs approximately 21,000 people worldwide and has a fleet of 136 vessels and units as of August, 2008. It is incorporated in the Cayman Islands while the principal office is in Houston, Texas. The company has offices in 20 countries around the world, with major offices in Stavanger, Aberdeen, Perth, Brazil, and Indonesia.
On July 23, 2007, Transocean announced a merger with GlobalSantaFe Corporation. The merger was completed on November 27, 2007.

Oil and Gas Properties

Challenger Minerals Inc.
Challenger Minerals Inc. (CMI) is a focused and experienced screener of offshore oil and gas prospects worldwide, delivering risk-managed energy solutions for the benefit of its Joint Venture Participants (JV Participants) and to asset owners.
CMI was established in 1972 and is a wholly owned subsidiary of Transocean, the world's largest offshore drilling contractor. CMI is also affiliated with Applied Drilling Technology International (ADTI), the world's leading turnkey drilling company and also a subsidiary of Transocean. CMI has a successful track record of screening, facilitating and funding more than 250 projects worldwide under its current business model, initiated in 1995.

Frequently Asked Questions

1. What is your main business?
Transocean Inc. provides contract offshore drilling services for international, national and independent petroleum companies around the world. We have the largest fleet of mobile offshore drilling units, which includes drillships, semisubmersibles and jackups. Our deepwater and jackup fleets are the largest in the offshore drilling industry.

2. What is your main area of focus?
We focus on helping our customers construct all kinds of wells in water depths of the world's major offshore drilling markets, specializing in deepwater and harsh-environment drilling.

3. How do you rank against other offshore drillers and oilfield services companies in terms of market equity capitalization?
Transocean Inc. is the largest offshore drilling company by market equity capitalization.

4. Are you a member of the S&P 500?
Yes, the company was added to the S&P 500 in December 1999

5. How would you describe your business cycle and its impact on your operations?
The business cycle is driven mainly by the price of crude oil and our customers' level of spending on exploration and production efforts. Historically, these factors have caused large shifts in demand for mobile offshore drilling rigs, driving increased demand for our services.

6. What is your stock symbol, and where does your stock trade?
Transocean Inc. trades on the New York Stock Exchange under the symbol "RIG".

7. What are your CUSIP and ISIN numbers?
CUSIP: G90078 10 9
ISIN: KYG90078 10 90

8. How many shares of common stock are outstanding?
Approximately 318 million shares of common stock are outstanding.

9. How many employees does your company have?
Approximately 12,500.

10. Where is Transocean Inc. incorporated?
In the Cayman Islands.

11. Where are your principal offices?
4 Greenway Plaza, Houston, Texas