Headquartered in Vernier, Switzerland, Transocean Ltd. (RIG) is one of the world’s largest global offshore contract oil and gas drilling companies. The company operates the highest specification floating offshore drilling fleet in the world, with 37 offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters. It is currently constructing two ultra-deepwater drill ships.
RIG’s shares have been gaining momentum lately thanks to surging oil prices last week. In the wake of Russia’s invasion of Ukraine, which has resulted in oil import embargoes on the largest non-OPEC oil exporter, crude oil prices touched their highest levels since 2008 last week. The bullish market trends caused RIG shares to gain 14.4% over the past month and 50% year-to-date.
