Transocean 2Q Preview: Weak Day Rates And Lower Pricing Power Likely To Weigh On Profits

Unlike last quarter, this quarter's results are likely to be weak as the impact of lower drilling activity is expected to be more apparent. The company is expected to witness a notable decline in its revenue, both sequentially as well as annually, as a large number of rigs remained idle or delivered lower day rates during the quarter. Further, some of the company's existing contracts expired during the quarter and have been renegotiated at a much lower price, which is likely to create a signific...