NEW YORK (AP) — Offshore rig owner Transocean lowered its full-year capital expenditures forecast on Thursday, because of a change in the timing of payments on rigs being built.

During a conference call, Chief Financial Officer Esa Ikäheimonen said that more than half of it — about $1.3 billion — will be used for the construction of new rigs. About $400 million will be used for major upgrades and refurbishment of existing rigs.

Late Wednesday Transocean Ltd., which agreed to pay more than $1 billion in penalties related to its role in the Deepwater Horizon oil spill in the Gulf of Mexico, reported first-quarter adjusted earnings from continuing operations of $337 million, or 93 cents per share, on revenue of $2.2 billion. Analysts surveyed by FactSet expected $1 per share on revenue of $2.36 billion.

Transocean, based in Switzerland, owned the Deepwater Horizon drilling rig, which exploded and sank over BP's Macondo well in April 2010. The accident killed 11 workers and spawned the nation's worst offshore oil spill.

Shares of Transocean fell 44 cents to $54.82 in afternoon trading.


Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.




If you have any questions or concerns please email us on


  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.