Transocean’s $2.7 billion acquisition of Ocean Rig this week was sparked by what it sees as “an imminent recovery in the ultra-deepwater market” that is expected to start before the end of the year.
The cash-plus-shares deal will see Switzerland-based Transocean take control of Athens-headquartered Ocean Rig’s fleet of 13 units — including two newbuild drillships — and sends it back to the top of the list of mobile offshore drilling unit owners by fleet value, according to one report.
