Transocean: Still A Strong Buy As Shares Rip Higher


  • Shares of Transocean have ripped higher to start 2023 and are up nearly 40% YTD.
  • The company has been refinancing its debt to extend maturities. The backlog, which is over $8B, also continues to grow.
  • The company does have a heavy debt load, but that means a greater potential reward for investors, especially if things improve for the offshore sector.
  • Day rates in the offshore sector have been rising steadily and that trend will likely continue. With a market cap just over $4B, Transocean looks like a slam dunk.
  • I’m considering adding to the position, potentially with LEAPS expiring in January 2025.

Oil Platform at Dusk

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It has been a couple months since my last article on Transocean (NYSE:RIG), and I figured it was time for an update heading into 2023. In that article, I talked about the OTM calls I

RIG Backlog Update

Backlog Update (

Disclosure: I/we have a beneficial long position in the shares of RIG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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