Rig-contracting giant Transocean Inc. has doubled its second-quarter net income year-on-year to $1.12 billion on the extra earning power of rigs acquired in the November 2007 merger with GlobalSantaFe.
The result came on revenues of $3.1 billion, some $600 million better than in the year-ago period with average day rates for its rigs reaching $238,600 in the quarter.
Company costs and expenses were up about $1 billion to $1.75 billion, although debt and depreciation charges were lower by eight percent to $337 million.
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