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MarketScreener Homepage  >  Equities  >  Nyse  >  Transocean Ltd.    RIG   CH0048265513

TRANSOCEAN LTD.

(RIG)
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Transocean Deploys Hybrid Energy Storage on Floating Drilling Unit

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10/02/2019 | 05:09pm EST

By Stephen Nakrosis

Transocean Ltd. (RIG) said Wednesday it has successfully deployed the world's first hybrid energy storage system aboard a floating drilling unit.

The system captures energy generated during normal rig operations and stores it in batteries, the company said.

The new system targets a 14% reduction in fuel use, and will reduce emissions of carbon dioxide and oxides of nitrogen, according to Transocean.

The system is being used on the Transocean Spitsbergen, which is located at the Snorre field in Norway, the company said. The investment is "funded in part through fuel saving incentives in its contract with Equinor and by the Norwegian NOx Fund."

"This first of its kind hybrid power upgrade will further enhance the reliability of our operations, while simultaneously reducing fuel consumption, operating costs and our environmental footprint," said Jeremy Thigpen, Transocean's president and chief executive. "We are pleased and proud to work alongside Equinor to jointly identify and implement more efficient and sustainable technology to deliver high-value wells to the industry."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR ASA -1.59% 176.05 Delayed Quote.-2.64%
TRANSOCEAN LTD. -2.02% 4.85 Delayed Quote.-28.67%
WTI 1.20% 57.33 Delayed Quote.25.40%
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Financials (USD)
Sales 2019 3 147 M
EBIT 2019 10,2 M
Net income 2019 -1 424 M
Debt 2019 7 479 M
Yield 2019 -
P/E ratio 2019 -2,25x
P/E ratio 2020 -5,69x
EV / Sales2019 3,39x
EV / Sales2020 3,36x
Capitalization 3 194 M
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Technical analysis trends TRANSOCEAN LTD.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 8,02  $
Last Close Price 5,22  $
Spread / Highest target 149%
Spread / Average Target 53,7%
Spread / Lowest Target -23,4%
EPS Revisions
Managers
NameTitle
Jeremy D. Thigpen President, CEO & Executive Director
Chadwick C. Deaton Chairman
Keelan I. Adamson Chief Operating Officer & Executive Vice President
Mey Lovell Mark-Anthony Chief Financial Officer & Executive Vice President
Howard E. Davis Chief Administrative & Information Officer, EVP
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