Transocean posts 1Q loss. CEO optimistic about future rig demand


Offshore driller Transocean posted a net loss of $212 million for the first quarter of 2018, a drop compared to an income of $95 million in the first quarter 2017, however the CEO is optimistic about future demand for its rigs.

Contract drilling revenues were down to $664 million, versus $738 million a year ago, but were higher compared to the $629 million in the fourth quarter of 2017.

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