The marriage will end up nailing a floor to keep dayrates sky-high for premium deep-water floaters and jack-up rigs alike, while at the same time staking claim to a bigger chunk of market share practically everywhere there is offshore oil and gas exploration.
The combined company will be known as Transocean, trading under Transocean's ticker symbol RIG on the New York Stock Exchange and maintaining headquarters in Houston with 20,000 employees around the world.
The
