Rig giant Transocean is actively looking at opportunities to high-grade its drilling fleet through potential acquisitions in a market executives believe could be nearing a trough after years of flagging demand.
On a conference call with analysts last week, chief executive Jeremy Thigpen said the rig market could soon be "ripe with opportunities" for mergers or acquisitions.
"There is a significant number of high-specification rigs either in the possession of straight market participants or shipyards that could enhance our overall fleet and competitive position," Thigpen said.
