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transocean

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

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

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

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

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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

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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.
A sign at the entrance to the Schlumberger campus in Sugar Land, Texas (AP Photo/Pat Sullivan, file)

Schlumberger to retire seismic vessels, take $800M impairment

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Oil field service giant Schlumberger will probably take an $800 million impairment charge in the fourth quarter as it retires some units in its marine seismic fleet, the company said Tuesday.
(Simon Dawson/Bloomberg)

Transocean idles three more rigs, stock falls

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Transocean’s fleet of deep-water drilling machines has been under pricing pressure and has faced lower demand amid falling oil prices and a glut in equipment.
(Melissa Phillip/Houston Chronicle)

Transocean to retire more rigs, execs say

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Transocean lost billions of dollars in the third quarter as it faced sinking demand for offshore rigs and as it wrote down the value of its drilling business.
(Melissa Phillip/Houston Chronicle)

Transocean expects $2.76 billion in writedowns

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Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling.
(Øyvind Hagen/Statoil ASA)

Statoil suspends two North Sea oil rigs

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Statoil won’t use the Transocean Spitsbergen and Songa Trym rigs from mid-November through at least the year-end because of overcapacity.
(AP Photo/Gerald Herbert, File)

Commentary: Is the Deepwater Horizon movie a good idea?

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The movie based on the BP Deepwater Horizon oil disaster starring Mark Wahlberg is set for release Sept. 30, 2016.