Transocean Stock Is A Buy – The Earnings Results Were Not A Disappointment


  • Transocean has recently reported its 4Q 2022 and total 2022 earnings results.
  • Such figures were broadly expected by the general market. Earlier on RIG’s management also warned of a not-so-good 4Q2022.
  • RIG stock has also corrected somewhat from its multi-year highs.
  • The management remains optimistic.
  • I am bullish on Transocean and really hope there would be no serious recession in the near term.

Oil Platform at Dusk


Transocean’s (NYSE:RIG) stock has been recently doing very well with the stock price rising by about 40% as of the time of writing year-to-date in 2023. The offshore driller’s results were announced and they disappointed the market participants although there

implied steel value per ultra-deepwater equivalent rig

Valaris’ presentation

RIG stock price
Data by YCharts

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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