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Transocean's Discover Seven Seas

Transocean names new CEO

Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.
Transocean's Deepwater Asgard arrived in the Gulf of Mexico in April 2015 to work under a two-year contract with Chevron. (Chevron)

Sixth Chevron drillship arrives in the Gulf of Mexico

The drillship, called the Deepwater Asgard, will work in the Mississippi Canyon under a two-year contract with Transocean, a Swiss rig contractor
Transocean's ultra-deepwater drillship the Discoverer Inspiration works on an exploration well in Chevron's Moccasin Prospect in the Gulf of Mexico (Photo: Melissa Phillip/Houston Chronicle)

Transocean to scrap two more offshore rigs

The Swiss driller said it’ll take a non-cash charge up to $110 million in the first quarter.
(Melissa Phillip/Houston Chronicle)

Transocean to scrap four rigs, stack four others

The firm, which has its main U.S. offices in Houston, said Wednesday that scrapping the four rigs “in an environmentally responsible manner” will cost it $300 million to $325 million in non-cash charges during the first quarter.
(AP Photo/Gerald Herbert, File)

Chemical Safety Board prevails in Deepwater Horizon case

In a dispute over Deepwater Horizon documents, the International Association of Drilling Contractors has warned that a court ruling in favor of the Chemical Safety Board would upset decades of precedent governing the offshore oil sector.
(Simon Dawson/Bloomberg)

Transocean could take only a week to shelve out-of-work rigs, execs say

Transocean reported a loss in the fourth quarter as it took a $992 million goodwill impairment charge on the sinking value of its drilling business and other charges, it said late Wednesday.
Steven L. Newman, president and chief executiver officer of Transocean Ltd., testifies on Capitol Hill about the oil leak in the Gulf of Mexico in Washington, D.C., U.S., on Thursday, May 27, 2010. (Photographer: Brendan Hoffman/Bloomberg News)

Transocean CEO steps down

The CEO of offshore driller Transocean has stepped down effective Monday under a “mutually agreed” decision between him and the board.

Appeals court won’t rehear a BP oil spill liability argument

A federal appeals court has refused to reconsider its 2014 ruling that BP cannot avoid federal penalties for the 2010 Gulf of Mexico oil spill by blaming another company’s failed equipment.

Court OKs $2.86 billion merger between C&J, Nabors unit

C&J Energy’s shareholders shouldn’t have been barred by a judge from voting on whether to approve the deal with Houston- based Nabors, the Delaware Supreme Court ruled today.
(Melissa Phillip/Houston Chronicle)

Transocean to scrap seven more rigs, take $140M charge

Transocean is planning to scrap seven of its older, lower-quality deep-water and mid-water vessels, putting them up for sale at a time when oil prices and demand for offshore rigs have sunken lower.