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Get filing alertsStanding Risk Factors
- Consent Decree (unchanged) — Civil consent decree with DOJ/EPA effective January 3, 2024 remains in place; no change in status or terms.
Transocean swings to $170M net income in Q2 2026; announces Valaris acquisition
Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~2 min read
Key Changes
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Net income of $170M ($0.04 diluted EPS) vs. operating loss of -$964M in Q2 2025, driven by absence of prior-year $1.14B asset impairments and $105M favorable fair-value adjustment on exchangeable bonds.
MD&A: Operating Results verify on EDGAR → -
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Announced all-stock acquisition of Valaris at 15.235 Transocean shares per Valaris share, combining two major offshore drillers; transaction subject to regulatory approvals.
MD&A: Significant Events verify on EDGAR → -
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Signed conditional $1.0B contract with Equinor for three harsh environment semisubmersibles (pending license approvals), representing 15% of current $6.7B backlog once firm.
MD&A: Backlog verify on EDGAR →
1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 19, 2026 · How we verify