Transocean posts 4Q loss. CEO says 2018 ‘transformative’

Offshore drilling company Transocean posted a net loss attributable to controlling interest of $242 million for the fourth quarter of 2018, however, the CEO is optimistic as the company last year added $2 billion in contract backlog, the highest in the last four years.

The result was impacted by impairment for three floating rigs previously announced for retirement, acquisition costs, and discreet tax expense.

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