Transocean sees ‘sustained strength’ in offshore drilling: CEO

Premier global deepwater driller Transocean sees “sustained strength” in offshore drilling as demand tightens for increasingly fewer available high-capability drilling rigs for the foreseeable future, pushing up utilization and day rates, the company’s top executive said Nov. 3. The global offshore drilling market should continue recovering at a pace with the last several quarters which has gradually increased, although majors…