Colorado Investor

Transocean: Drilling Deep for Profits

If you listen to the Q2 earnings conference call (www.earnings.com/compa...), management states that debt has been payed down $1.5B so far this year and that it looked like they could (but not a promise) start returning cash to shareholders this year because of continued decreased debt and continued increased NPV of future contracts.

Transocean: Drilling Deep for Profits

My guess is that RIG will take off after the 3Q earnings announcement when management will likely announce a stock buyback and/or dividend. Until then, this stock will likely track with the price of oil. Not right, as the author points out, but the market is the market, and its irrationality is what gives opportunities to those of us who can look ahead and be patient.