Rig contractor Transocean posted a loss in the third quarter as it booked impairments on three floaters scheduled for retirement, although contract drilling revenues grew.
Transocean made a net loss of $825 million in the period as against a $208 million loss in the second quarter, as it booked $583 million in impairment charges for the three floaters.
An added $12 million loss on the retirement of debt and another $6 million loss on disposal of assets also hit Transocean’s earnings.
