Transocean adds 11 existing rigs, two more under construction
The offshore drilling sector showed significant life today, with a major M&A deal shaking up the landscape.

Transocean (ticker: RIG) has agreed to acquire Ocean Rig (ticker: ORIG) in a transaction valued at $2.7 billion, consolidating the sector.

Transocean will primarily be paying for the drillships Ocean Rig owns, which will add to the company’s overall fleet. Ocean Rig owns nine high-specification ultra-deepwater drillships, two harsh environment semisubmersibles, and t...

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