The world’s No. 1 drilling rig contractor by fleet size reported third quarter net income of $1.12 billion on Wednesday, up 14 percent year on year, as Transocean Inc.'s new-build designs began earning higher day rates.
The result was had on revenues that reached $3.19 billion, or double the business of last year, although 2009’s net income included after tax gains like rig sales.
Transocean said its rigs were working more in the quarter and, at average dayrates of $242,200, were earning two-percent more than in the same span last year.
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