Transocean Q1 Preview: Ultra-Deepwater Fleet, Costs In Focus

We believe that the company's results could be weighed down by lower utilization rates on its fleet of ultra-deepwater rigs, although this could be partially offset by better cost management. During Q4 2013, the company's quarterly revenues remained flat year-over-year at around $2.33 billion, while adjusted net income fell by around 20% to $267 million.