Energy Industry
Industry: Email Alert RSS FeedTRANSOCEAN'S PLAN TO SELL SHALLOW WATER BUSINESS PRODUCES MIXED REACTIONS
Hart's Petroleum Finance Week, July, 2002
Transocean Inc. (NYSE: RIG) announced plans last week to divest its Gulf of Mexico shallow and inland water business through an initial public offering (IPO). The Houston offshore drilling contractor intends to establish the division as a separate, publicly traded company and expects to sell a portion of its interest in the IPO, which it hopes to complete by late 2002 or early 2003, subject to market conditions and other factors.
The company also announced that Jan Rask has joined Transocean and will be the new company's president and chief executive officer (CEO). He previously was president and CEO of Marine Drilling Companies Inc. from 1996 to 2001 and Arethusa (Off-Shore) Ltd. from 1993 to 1996.
Initial market reaction was neutral as Transocean's common...
Brought to you by CBS MoneyWatch.com
- Best- and Worst-Paid College Degrees
- 6 Things You Should Never Do on Twitter or Facebook
- How Much Sleep Do You Really Need?
- 6 Big Myths about Gas Mileage
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- LIFO vs. FIFO: a return to the basics
