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transocean merger rumors

Bhd., Santa Fe Braun Inc., Santa Fe Construction Company, Santa Fe Drilling Company of Venezuela C.A., Saudi Drilling Company Limited, Sedco Forex International Inc., Services Petroliers Transocean, Servicios Petroleros Santa Fe S.A., Ship Investment Ocean Holdings Inc., Songa Offshore Delta Limited, Songa Offshore Drilling Limited, Songa Offshore Enabler Limited, Songa Offshore Encourage Limited, Songa Offshore Endurance Limited, Songa Offshore Equinox Limited, Songa Offshore Equipment Rental Limited, Songa Offshore Malaysia Sdn. NASDAQ data is at least 15 minutes delayed. Transocean stock traded at $4.52 ahead of earnings, but Tuesday's reaction took shares down to $4.41, and on Wednesday they were down another 1.2% to $4.37. The consensus among Wall Street analysts is that investors should "buy" RIG shares. Home; Topics. Transocean Inc. 36C Dr. Roy's Drive, Bermuda. Transocean Ltd. (NYSE:RIG) announced its quarterly earnings data on Tuesday, February, 21st. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. It's also commonly referred to as a 'liquidity ratio'. It also enables us to reduce our cost per active rig, as we believe that we can efficiently merge the Ocean Rig operations into our existing structure with limited incremental shore-based expense. Below, we examine the compound annual growth rate CAGR for short of an investment into Transocean shares, starting with a $10,000 purchase of RIG, presented on a split-history-adjusted basis factoring in the complete Transocean stock split history. On average, they anticipate the company's stock price to reach $5.91 in the next year. Sign-up to receive the latest news and ratings for Transocean and its competitors with MarketBeat's FREE daily newsletter. The cause of this is impossible to tell Transocean will pay approximately $2 aripiprazole 2 mg side effects fycompa A galactic merger would have altered the structure of PGC 6240 and would have also triggered an increased level of star formation, which would explain the composition of the globular clusters On this episode of the Sofa King Podcast, we talk about one . A change in margin can reflect either a change in business conditions, or a company's cost controls, or both. The offshore drilling services provider earns $-621,000,000.00 in net income (profit) each year or ($0.88) on an earnings per share basis. How were Transocean's earnings last quarter? It takes the consensus estimate for the current fiscal year (F1) divided by the EPS for the last completed fiscal year (F0) (actual if reported, the consensus if not). Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. If, on the other hand, it went from $1.00 to 90 cents, that would be a -10% change in the consensus estimate revision. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. For example, a cash/price ratio, or cash yield, of .08 suggests an 8% return or 8 cents for every $1 of investment. 55.16% of the stock of Transocean is held by institutions. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service. By creating a free account, you agree to our, Closing prices for crude oil, gold and other commodities, In Britain, warm hubs emerge to beat soaring energy costs, In Chicago, adapting electric buses to winters challenges, Global race to boost electric vehicle range in cold weather, Ukraine ally Kallas fights for reelection in Estonia vote, How major US stock indexes fared Friday 3/3/2023, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, Chief Financial Officer & Executive Vice President, Chief Administrative & Information Officer, EVP. On average, they predict the company's stock price to reach $5.91 in the next year. Transocean has only been the subject of 3 research reports in the past 90 days. Strength Seen in Transocean (RIG): Can Its 6.9% Jump Turn into More Strength? 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Search: Transocean Merger Rumors. The 52 week price change is a good reference point. As Transocean has already committed to voting its approximately 21.3 million common units in favor of the merger, a vote in favor of the merger by approximately 9.9 million (or approximately 50.1% . Start date: 01/17/2013. Transocean Ltd. (NYSE: RIG) and Ocean Rig UDW Inc. (Ocean Rig) (NASDAQ: ORIG) announced today that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rigs net debt. A ratio of 1 means a company's assets are equal to its liabilities. For example, a stock trading at $35 with earnings of $3 would have an earnings yield of 0.0857 or 8.57%. It also includes an industry comparison table to see how your stock compares to its expanded industry, and the S&P 500. Ventura Makes Personal Testimony. FORM 8-K. CURRENT REPORT. 8. * indicates the important links in the menu, After-Market: This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. So be sure to compare it to its group when comparing stocks in different industries. Their RIG share price forecasts range from $3.30 to $10.00. View our RIG earnings forecast. A D/E ratio of 2 might be par for the course in one industry, while 0.50 would be considered normal for another. Nabors Offshore - $3.05bn Founded in 1952, Nabors Offshore is a company that owns and operates one of the world's largest land-based drilling rig fleets. Return on Equity (or ROE) is calculated as income divided by average shareholder equity (past 12 months, including reinvested earnings). So the PEG ratio tells you what you're paying for each unit of earnings growth. The Fly team scours all sources of company news, from mainstream to cutting edge,then filters out the noise to deliver shortform stories consisting of only market moving content. It serves integrated energy companies, government-owned or government-controlled oil companies, and other independent energy companies. Ltd., Transocean Employee Support Fund, Transocean Enabler Limited, Transocean Enabler Rigco Limited, Transocean Encourage Limited, Transocean Encourage Rigco Limited, Transocean Endurance Limited, Transocean Endurance Rigco Limited, Transocean Entities Holdings GmbH, Transocean Equinox Limited, Transocean Equinox Rigco Limited, Transocean Finance Limited, Transocean Financing (Cayman) Limited, Transocean Financing GmbH, Transocean Guardian Limited, Transocean Holdings 1 Limited, Transocean Holdings 2 Limited, Transocean Holdings 3 Limited, Transocean Holdings LLC, Transocean Hungary Holdings LLC, Transocean Hungary Investments LLC, Transocean Hungary Ventures LLC, Transocean Inc., Transocean Innovation Labs Ltd., Transocean International Holdings Limited, Transocean International Resources Limited, Transocean Investimentos Ltda., Transocean Investments Holdings LLC, Transocean Investments S.a.r.l., Transocean Ltd., Transocean Management Services GmbH, Transocean Minerals Holdings Limited, Transocean Nautilus Limited, Transocean North Sea Limited, Transocean Norway Operations AS, Transocean Offshore (North Sea) Ltd., Transocean Offshore Canada Services Ltd., Transocean Offshore Deepwater Drilling Inc., Transocean Offshore Deepwater Holdings Limited, Transocean Offshore Drilling Limited, Transocean Offshore Gulf of Guinea II Limited, Transocean Offshore Gulf of Guinea VI Limited, Transocean Offshore Gulf of Guinea VII Limited, Transocean Offshore Gulf of Guinea XII Limited, Transocean Offshore Gulf of Guinea XIII Limited, Transocean Offshore Holdings Limited, Transocean Offshore International Limited, Transocean Offshore International Ventures Limited, Transocean Offshore Limited, Transocean Offshore PR Limited, Transocean Offshore USA Inc., Transocean Onshore Support Services Limited, Transocean Orion Limited, Transocean Phoenix 2 Limited, Transocean Phoenix 2 Opco LLC, Transocean Pontus Limited, Transocean Pontus Opco Inc., Transocean Poseidon Limited, Transocean Poseidon Opco Inc., Transocean Proteus Limited, Transocean Proteus Opco LLC, Transocean Quantum Holdings Limited, Transocean Quantum Management Limited, Transocean Quantum Rig Holdings Limited, Transocean Quantum Sentry Holdings Limited, Transocean Rig 140 Limited, Transocean Rig Management Limited, Transocean SPSF Holdings Limited, Transocean Sedco Forex Ventures Limited, Transocean Sentry Limited, Transocean Services (India) Private Limited, Transocean Services AS, Transocean Services UK Limited, Transocean Skyros Limited, Transocean Spitsbergen ASA, Transocean Sub Asset Holdings 1 Limited, Transocean Sub Asset Holdings 2 Limited, Transocean Sub Asset Holdings 3 Limited, Transocean Support Services Limited, Transocean Support Services Nigeria Limited, Transocean Support Services Private Limited, Transocean Technical Services Egypt LLC, Transocean U.S. Holdings LLC, Transocean UK Limited, Transocean Voyager 1 Limited, Transocean Voyager 2 Limited, Transocean West Africa Holdings Limited, Transocean Worldwide Inc., Triton Asset Leasing GmbH, Triton Capital I GmbH, Triton Capital II GmbH, Triton Capital Mexico GmbH, Triton Conqueror GmbH, Triton Corcovado LLC, Triton Financing LLC, Triton Gemini GmbH, Triton Holdings Limited, Triton Hungary Asset Management LLC, Triton Hungary Investments 1 Limited Liability Company, Triton Industries Inc., Triton KG2 GmbH, Triton Management Services LLC, Triton Mykonos LLC, Triton Nautilus Asset Leasing GmbH, Triton Nautilus Asset Management LLC, Triton Offshore Leasing Services Limited, Triton Pacific Limited, Triton Poseidon GmbH, Triton Voyager Asset Leasing GmbH, and Wilrig Offshore (UK) Limited. While the F1 consensus estimate and revision is a key driver of stock prices, the Q1 consensus is an important item as well, especially over the short-term, and particularly as a stock approaches its earnings date. ET by Tomi Kilgore Transocean stock price target raised to $4.50 from $3.30 at Susquehanna Nov.. It's used by investors as a measure of financial health. Since then, RIG stock has increased by 64.7% and is now trading at $7.51. The (F1) EPS Estimate Monthly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last 4 weeks. Oil giant Shell set to unveil record profits of more than 30bn as households and businesses grapple with sky-high energy bills. GRAND CAYMAN, Cayman Islands, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Ocean Rig UDW Inc. (NASDAQ:ORIG), ("Ocean Rig" or the "Company"), an international contractor of offshore deepwater drilling services, today announced that its shareholders have approved the merger of the Company with Transocean Ltd. ("Transocean") by which, upon the closing of the merger, Ocean Rig will become a . Zacks Rank Education - Learn about the Zacks Rank, Zacks Rank Home - Zacks Rank resources in one place, Zacks Premium - The only way to fully access the Zacks Rank. The transaction, which is expected to be completed during the first quarter of 2019, is subject to the approval of both Transocean and Ocean Rig shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. Minnesota's Senate Environment Climate and Legacy committee passed a measure concerning Sen. Lindsey . While the one year change shows the current conditions, the longer look-back period shows how this metric has changed over time and helps put the current reading into proper perspective. Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor, with an equity market capitalization currently in excess of $12.0 billion. The transaction has been unanimously approved by the board of directors of each company. N.V., GlobalSantaFe Drilling Company, GlobalSantaFe Drilling Company (North Sea) Limited, GlobalSantaFe Drilling Company (Overseas) Limited, GlobalSantaFe Drilling Mexico S. de R.L. During the same period in the previous year, the company posted ($0.19) EPS. The company's mobile offshore drilling. The ever popular one-page Snapshot reports are generated for virtually every single Zacks Ranked stock. This is a medium-term price change metric. Announces Pricing of $525 Million of Secured Notes Due 2028, Transocean Ltd. But they all have their place in the Growth style. If the volume is too light, in absolute terms or for a relatively large position, it could be difficult to execute a trade. So, as with other valuation metrics, it's a good idea to compare it to its relevant industry. If a stock's EPS consensus estimate is $1.10 now vs. $1.00 the week before, that will be reflected as a 10% change. A P/B of 1 means it's selling at its per share book value. Compare Top Brokerages Here. A company with a P/E ratio of 40 and a growth rate of 50% would have a PEG ratio of 0.80 (40 / 50 = 0.80). Conventional wisdom also has it that if the yield on the stock market (S&P 500 for example) is lower that the yield on the 10 Yr., then stocks would be considered overvalued. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. View institutional ownership trends. Transocean denies R&B merger speculation Talk is flying in the offshore drilling rig industry of a possible merger between two major international players - Transocean of Norway and. Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. Pursuant to the terms of the Merger Agreement, a business combination between CLAQ and Nauticus was effected through the merger of Merger . That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The new company, which will operate under the Transocean name, will combine the largest. View the best growth stocks for 2023 here. Zacks Rank Education -- Learn more about the Zacks Rank In general, a lower number or multiple is usually considered better that a higher one. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. A company with an ROE of 10%, for example, means it created 10 cents of assets for every $1 of shareholder equity in a given year. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Visit Performance Disclosure for information about the performance numbers displayed above. Here's a look at three companies reporting June-quarter earnings after markets close Monday, August 2. And within the M Industry, it might further be delineated into the X Industry group called Banks Northeast. Main Menu; Markets. Many other growth items are considered as well. Transocean owns and operates a fleet of 48 mobile offshore drilling units that offer services for energy companies. Value Style - Learn more about the Value Style. But note, different industries have different margin rates that are considered good. How good is it? A D/E ratio of 1 means its debt is equivalent to its common equity. EBITDA, as the acronym depicts, is earnings before interest, taxes, depreciation and amortization. In addition to all of the proprietary analysis in the Snapshot, the report also visually displays the four components of the Zacks Rank (Agreement, Magnitude, Upside and Surprise); provides a comprehensive overview of the company business drivers, complete with earnings and sales charts; a recap of their last earnings report; and a bulleted list of reasons to buy or sell the stock. -0.02 (-0.27%) It is used to help gauge a company's financial health. Is First Trust Small Cap Growth AlphaDEX ETF (FYC) a Strong ETF Right Now? Cash is vital to a company in order to finance operations, invest in the business, pay expenses, etc. The company is scheduled to release its next quarterly earnings announcement on Monday, May 1st 2023. It's another great way to determine whether a company is undervalued or overvalued with the denominator being cash flow. It is the most commonly used metric for determining a company's value relative to its earnings. But, it's made even more meaningful when looking at the longer-term 4 week percent change. The Price to Cash Flow ratio or P/CF is price divided by its cash flow per share. Net Margin is defined as net income divided by sales. Export data to Excel for your own analysis. The 12 Week Price Change displays the percentage price change over the most recently completed 12 weeks (60 days). Enterprise Value / Earnings Before Interest, Taxes, Depreciation and Amortization is a valuation metric used to measure a company's value and is helpful in comparing one stock to another. [RIG] completed the reclassification of its stock and the merger transaction with GlobalSantaFe Corporation [GSF] In case of mergers, some states required a unanimous vote of shareholders However, since the company's 2007 merger with GlobalSantaFe, Transocean's reputation has suffered considerably, according to EnergyPoint Research, an independent oil service . The recent price decline of 9.5% in Transocean Ltd.'s (NYSE:RIG) stock may have disappointed insiders who bought US$54m worth of shares at an average price of US$4.19 in the past 12 months.. The most common way this ratio is used is to compare it to other stocks and to compare it to the 10 Year T-Bill. It's calculated as earnings divided by price. It's then divided by the number of shares outstanding to determine how much cash is generated per share. Based on aggregate information from My MarketBeat watchlists, some companies that other Transocean investors own include CA (CA), Endologix (ELGX), BlackRock (BLK), Chipotle Mexican Grill (CMG), Hawkins (HWKN), Aegean Marine Petroleum Network (ANW), Athabasca Oil (ATH), Micron Technology (MU), Gran Tierra Energy (GTE) and Och-Ziff Capital Management Group (OZM). By PATRICK TOOHER, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:50, 28 January 2023 | UPDATED: 21:50, 28 January 2023 Oil giant Shell is set to unveil record profits of more than 30 billion as households and businesses grapple with sky-high energy bills. To learn more, click here. Momentum Style - Learn more about the Momentum Style. Search: Transocean Merger Rumors. Since bonds and stocks compete for investors' dollars, a higher yield typically needs to be paid to the stock investor for the extra risk being assumed vs. the virtual risk-free investment offered in U.S.-backed Treasuries. In contrast, the net income that goes into the earnings portion of the P/E ratio does not add these in, thus artificially reducing the income and skewing the P/E ratio. Our daily ratings and market update email newsletter. The company was founded in 1926 and is based in Steinhausen,. These returns cover a period from January 1, 1988 through January 2, 2023. This item is updated at 9 pm EST each day. Theme Leveraged Finance & High Yield Bonds backing Transocean Ltd. surged across the stack today after the offshore drilling company said it had moved to resolve allegations that its efforts to stave off a bankruptcy filing had led it to default on $543 million of senior notes. Receive RIG Stock News and Ratings via Email, March 4, 2023|Legacy Research (Affiliate) (Ad), Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecast, February 24, 2023|americanbankingnews.com. The (F1) EPS Estimate Quarterly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last 12 weeks. It also anticipates an adjusted contract drilling revenue of $635 million and an approximate 15% rise . Transocean Ltd. Zacks Premium - The way to access to the Zacks Rank. Transocean trades on the New York Stock Exchange (NYSE) under the ticker symbol "RIG.". The firm notes these levels are notably below the average day rates secured by Transocean, which would operate the fourth-largest overall . Above 1 means it assets are greater than its liabilities. Technical analysis trends TRANSOCEAN LTD. Technical analysis Income Statement Evolution More Financials Consensus Consensus EPS Revisions More Estimates Revisions Managers and Directors More about the company Sector and Competitors More Results Ltd., Songa Offshore Rig 2 AS, Songa Offshore Rig 3 AS, Songa Offshore SE, Songa Offshore SE, Songa Offshore Saturn Limited, Songa Offshore T & P Cyprus Limited, Songa Saturn Chartering Pte. A ratio under 40% is generally considered to be good.But note; this ratio can vary widely from industry to industry. Seeing a stock's EPS change over 1 week is important. As the name suggests, it's calculated as sales divided by assets. Explaining the rationale for the transaction, Transocean in September said the deal would increase "Transocean's . MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Get short term trading ideas from the MarketBeat Idea Engine. The Price to Book ratio or P/B is calculated as market capitalization divided by its book value. . The two drillers in September entered into a definitive merger agreement under which Transocean was to acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig's net debt. TransOcean 2: Rivals - Update 1.2 available. Many investors prefer EV to just Market Cap as a better way to determine the value of a company. The offshore drilling services provider had revenue of $606 million for the quarter, compared to the consensus estimate of $620.89 million. The scores are based on the trading styles of Value, Growth, and Momentum. For one, part of trading is being able to get in and out of a stock easily. mesurer votre utilisation de nos sites et applications. The EV/EBITDA ratio is a valuation multiple and is often used in addition, or as an alternative, to the P/E ratio. The X Industry values displayed in this column are the median values for all of the stocks within their respective industry. Announces $392 Million Contract Award for Ultra-Deepwater Drillship. Traditionally, investors would look at the stock with the lower P/E and deem it a bargain. Shares of RIG stock can be purchased through any online brokerage account. This situation forced Seadrill to suspend its dividend, while Transocean (RIG 0.86%) and Ensco slashed their shareholder payouts by 80%. As such, Lamar McKay, the president and chairman of BP, has alluded that the blame belongs there (despite BP accepting responsibility for the cleanup) Corporate Profile Transocean name and trade on the New York Stock Exchange under Transoceans symbol RIG Josh Brown agreed that "each one of these has been a boondoggle," and then, using tangled . A P/S ratio of 2 means you're paying $2 for every $1 of sales the company makes. Ideally, an investor would like to see a positive EPS change percentage in all periods, i.e., 1 week, 4 weeks, and 12 weeks. The 52 Week Price Change displays the percentage price change over the most recently completed 52 weeks (260 trading days). Transocean-GlobalSantaFe Merger. The Momentum Scorecard focuses on price and earnings momentum and indicates when the timing is right to enter a stock. Also, by looking at the rate of this item, rather than the actual dollar value, it makes for easier comparisons across the industry and peers. Transocean Ltd. Analyst Contact Alison Johnson Senior Manager, Investor Relations +1-713-232-7214 Media Contact Pam Easton Manager, Legal Projects and Communications +1-713-232-7647 Home News Transocean Ltd. Secures $252 Million Contract for Newbuild, Ultra-Deepwater Drillship Within the Finance Sector, it would fall into the M Industry of Banks & Thrifts. Seward & Kissel LLP is acting as legal advisor to Ocean Rig with respect to U.S. law. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. And like the P/E ratio, a lower number is typically considered 'better' than a higher number. What is Transocean's stock price forecast for 2023? What other stocks do shareholders of Transocean own? How to Decide, Taiwan Semiconductor Manufacturing Expanding in the West, One Way to Earn More From Dividend Stocks, How to Choose a Winning Dividend Investing Strategy, 3 Industries Leading the Stock Market Rebound, Oil Tankers Boost Dividends, See Continued Robust Business In '23. International Mexico S. de R.L. Grand Cayman, Cayman. Growth traders and investors will tend to look for growth rates of 20% or higher. The 20 day average establishes this baseline. The median P/B ratio for stocks in the S&P is just over 3. Learn more about Zacks Equity Research reports. Wednesday's top analyst upgrades and downgrades included Amazon.com, Boeing, Carlyle, Frontline, Olin, Perrigo, Rocket Companies, Starwood Property Trust, Transocean andWW. Current Cash Flow Growth measures the percent change in the year over year Cash Flow. The income number is listed on a company's Income Statement. 57 employees have rated Transocean Chief Executive Officer Jeremy D. Thigpen on Glassdoor.com. It's typically categorized as a valuation metric and is most often quoted as Cash Flow per Share and as a Price to Cash flow ratio. This puts Jeremy D. Thigpen in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. Based upon closing prices for each. Transocean ( NYSE: RIG) released its fleet status on April 28, 2021. One of the reasons some investors prefer the P/S ratio over other metrics like the P/E ratio is because sales are harder to manipulate on an income statement than earnings. While a P/B of less than 3 would mean it's trading at a discount to the market, different industries have different median P/B values. It's packed with all of the company's key stats and salient decision making information. The (F1) EPS Estimate Weekly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last week. Additionally, its fleet includes two high-specification ultra-deepwater drillships currently under construction at Samsung Heavy Industries with favorable shipyard financing terms. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. But when compared to its growth rate, it does't have the earnings growth to justify its P/E. The stock has recently been. Bobby Willig, Meg Guerin-Calvert, Jay Ezrielev, David Fenichel and a Compass Lexecon team were retained by counsel for the parties to assist in an economic analysis of the merger of Transocean and GlobalSantaFe, two large oil and gas contractors. Like earnings, a higher growth rate is better than a lower growth rate. Our testing substantiates this with the optimum range for price performance between 0-20. Transocean's stock was trading at $4.56 at the start of the year. Moreover, when comparing stocks in different industries, it can become even more important to look at the relative measures, since different stocks in different industries have different values that are considered normal. The merger between Noble Drilling and Maersk Drilling will create the world's third's largest offshore rig owner, with the combined company having 19 jackups, 15 drillships, and five semisubmersibles. A ratio of 2 means its assets are twice that of its liabilities.

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