Wednesday, May 2, 2007

Transocean First-Quarter Profit More Than Doubles as Rig Rental Rates Soar

(Bloomberg) -- Transocean Inc., the world's largest offshore oil and gas driller, said first-quarter profit more than doubled after rents for deepwater rigs surged.

Net income climbed to $553 million, or $1.84 a share, from $206 million, or 61 cents, a year earlier, Houston-based Transocean said today in a statement. Revenue jumped 63 percent to a record $1.33 billion.


Read more at Bloomberg Energy News

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