Hot Penny Companies To Buy For 2015: Transocean Inc.(RIG)
Transocean Ltd. provides offshore contract drilling services for oil and gas wells worldwide. It offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and drilling project management services. The company also offers well and logistics services. In addition, it engages in oil and gas exploration, development, and production activities primarily in the United States offshore Louisiana and Texas, and in the United Kingdom sector of the North Sea. As of February 10, 2011, the company owned, had partial ownership interests in, and operated 138 mobile offshore drilling units, including 47 high-specification floaters, 25 midwater floaters, 9 high-specification jackups, 54 standard jackups, and 3 other rigs, as well as 1 ultra-deepwater floater and 3 high-specification jackups under construction. Transocean Ltd. was founded in 1953 and is based in Zug, Switzerland.
Advisors' Opinion:- [By Paul Ausick]
Following a November 2011 leak of about 3,600 barrels of oil from a rig offshore of Brazil, Chevron Corp. (NYSE: CVX) and driller Transocean Ltd. (NYSE: RIG) were slapped with a penalty of $17.5 billion by the governments public prosecutors office. That payment reportedly hasbeen reduced to less than $42 million as the company and the government have agreed on a settlement.
- [By Michael Olsen, CFA]
Because REITs and MLPs retain limited earnings, they're forced to tap capital markets pretty often. That can be good, because it forces discipline, but cyclical, capital-intensive, and/or debt-laden companies aren't particularly suited for the structure. Transocean (NYSE: RIG ) as an MLP, Carl Icahn? No, thank you. A deepwater driller, subject to the drilling cycle's wax and wane, capital intensivity, and relatively continuous reinvestment needs doesn't fit the mold.
source from Top Penny Stocks For 2015:http://www.seekpennystocks.com/hot-penny-companies-to-buy-for-2015.html
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