Transocean: Deepwater Is the Way Forward
You don't become an industry stalwart without the proper vision at the top of the organization. Clearly, Transocean (NYSE: RIG) has been the beneficiary of this foresight along its path. This vision continues to grow and is sharply focused on the ultra-deepwater segments of the drilling industry moving forward. As Transocean maneuvers itself into position for 2013 and beyond, management has made it clear that the company will divest lower-specification, shallow-water assets in favor of these higher-specification drillships and jackup rigs. It has already packaged a deal to sell 38 rigs for $1.05 billion and signed a deal with Royal Dutch Shell (NYSE: RDS-B) for four of the most advanced drillships in the business. Look for this momentum to carry forward well on into the foreseeable future. Not convinced by this write-up? Check out the following video for significantly more detail.
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The article Transocean: Deepwater Is the Way Forward originally appeared on Fool.com.Joel South has no positions in the stocks mentioned above. Taylor Muckerman owns shares of Ensco. The Motley Fool owns shares of Transocean and Seadrill. Motley Fool newsletter services recommend Chevron and Seadrill. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.