Oil Platform Operator Transocean Increased Its Net Loss By 1.5 Times In 2023
Switzerland’s Transocean Ltd., one of the world’s largest offshore oil platform operators, ended 2023 with a net loss of $954 million, or $1.24 per share, according to a press release.
At the end of 2022, the company’s loss was $621 million, or $0.89 per share.
Adjusted loss last year widened to $739 million from $648 million a year earlier.
Revenue from drilling contracts, meanwhile, increased by 10% to $2.83 billion.
In the fourth quarter, net loss was $104 million, or $0.13 per share, compared with a loss of $220 million, or $0.28 per share, in the prior quarter.
Revenue increased to $741 from $713 million in the previous quarter.
Transocean shares in London and New York have fallen by about a quarter over the past three months.
