Transocean Casting Off Its Older Rigs Into New Entity

In an slightly under the radar move, Transocean (RIG) announced that it was creating a new entity, Caledonia Offshore Drilling Company, which will be comprised of eight North Sea midwater rigs. Given the location, it actually sounds like a reasonable name choice. Wow. The rigs under consideration are all from the 70’s and 80’s and would possibly include… Read More »