Transocean (RIG) said late Tuesday it expects to include a non-cash charge of $1.10 billion to $1.20 billion in its Q2 results due to impairment charges of its rigs.
The company said it plans to dispose of its GSF Development Driller I and Discoverer Luanda rigs, held for sale as of May 30.
Transocean also said it is assessing the commercial feasibility of disposing of, by sale or by recycling, the Development Driller III and Discoverer Inspiration. Both were classified as held for sale.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.