Transocean (RIG) Falters For 3rd Straight Day – Here's Why
We recently published a list of 10 Stocks Take A Shocking Nosedive. Transocean Ltd. (NYSE:RIG) is one of the worst-performing stocks on Thursday.
Transocean dropped by 3.74 percent on Wednesday to close at $3.09 apiece as investors unloaded portfolios over the lack of fresh developments to boost buying.
Wednesday's share price marked its third straight day of decline, suggesting that investors have already priced in earlier news that it secured another $100 million contract with existing client, Equinor ASA.
Under the agreement, Transocean Ltd. (NYSE:RIG) will drill two more wells for Equinor ASA at the Spitsbergen rig in Norway as part of the latter's drilling extension option.
The program is expected to kick off in the first quarter of 2026 in direct continuation of the rig's current program.
The additional work followed their original three-well program on the Norwegian Continental Shelf (NCS), which was procured in 2024.
An aerial view of an oil rig with drillers in hard hats working on the platform.
Transocean Ltd.'s (NYSE:RIG) Spitsbergen rig was built in 2010 as a sixth-generation dual-derrick winterized semi-submersible rig, which is capable of drilling high-pressure and high-temperature formations.
While we acknowledge the potential of RIG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Societe Generale's Benzimra on Outlook for Asian Stocks
Societe Generale's Frank Benzimra shares his views on the South Korean, Chinese and Southeast Asian stock markets. He says the firm is looking at the China consumption story, and adds that it's neutral on India and underweight Indonesia, Malaysia and Thailand. Benzimra speaks on Bloomberg Television. (Source: Bloomberg)
Yahoo
an hour ago
- Yahoo
IDEX Biometrics ASA: Mandatory notification of trades
Reference is made to the stock exchange notice from IDEX Biometrics ASA on 15 June 2025 regarding the share issue to personnel. The subscription and allocation have been completed on 19 June 2025. IDEX Biometrics ASA informs of primary insider transactions as listed in the attached notifications. For further information contact: Kristian Flaten, CFO, Tel: +47 95092322 E-mail: ir@ About this notice: This notice was issued by Kristian Flaten, CFO, on 20 June 2025 at 04:00 CET on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to Article 19 of the EU Market Abuse Regulation and Section 5-12 of the Norwegian Securities Trading Act. Attachments 2025-06-19 Annika Olsson notice 2025-06-19 Morten Opstad notice 2025-06-19 K Konsult notice 2025-06-19 Caprock notice 2025-06-19 Anders Storbraten noticeError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Mandatory notice of shareholding 19 June 2025
IDEX Biometrics ASA ('IDEX') discloses the following on behalf of a shareholder. Reference is made to the stock exchange notice from IDEX Biometrics ASA on 15 June 2025 regarding the share issue to personnel. The subscription and allocation have been completed on 19 June 2025. Sundt AS holds 230,491,498 shares in IDEX. This is unchanged from the previous notice on 14 April 2025. Following registration of the share capital increase for the personnel placement, the ownership will represent 4.87 % of the shares and voting rights in IDEX. About this notice: This notice was issued by Kristian Flaten, CFO, on 20 June 2025 at 04:15 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to section 4-2 of the Norwegian Securities Trading Act (STA) and published in accordance with section 5-12 of the STA.
