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Transocean Ltd., Shelf Drilling International Holdings, Ltd. - M&A Call

Transocean Ltd. (RIG)

September 12, 2012 10:00 am ET


R. Thaddeus Vayda - Vice President of Investor Relations & Communications

Steven L. Newman - Chief Executive Officer, President, Director and Member of Executive Risk Management Committee

Gregory L. Cauthen - Interim Chief Financial Officer and Executive Vice President

Terry B. Bonno - Senior Vice President of Marketing


Ian Macpherson - Simmons & Company International, Research Division

Matt Conlan

Michael W. Urban - Deutsche Bank AG, Research Division

David C. Smith - Johnson Rice & Company, L.L.C., Research Division

Justin Sander - RBC Capital Markets, LLC, Research Division

Kurt Hallead - RBC Capital Markets, LLC, Research Division

Truls Olsen - Fearnley Fonds ASA, Research Division

Alan D. Laws - BMO Capital Markets U.S.

Todd P. Scholl - Clarkson Capital Markets, Research Division



Good day, everyone, and welcome to the Transocean Update Call. Today's call is being recorded. At this time, I would like to turn the conference over to Mr. Thad Vayda. Please go ahead, sir.

R. Thaddeus Vayda

Thank you, Rebecca. Good day, and thank you for joining us on this update call to discuss and respond to your questions regarding several recent events, including a sale of our standard jackup fleet to Shelf Drilling International, our disclosure of an opportunity to build 4 ultra-deepwater drillships to firm 10-year contracts and associated $1.5 billion public debt offering.

Joining me on this morning's call are Steven Newman, Chief Executive Officer; Greg Cauthen, Executive Vice President and Chief Financial Officer; and Terry Bonno, Senior Vice President of Marketing.

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