Swiss offshore drillers Transocean and Seadrill discuss merger amid industry resurgence.

Transocean, a Swiss offshore drilling contractor, is in talks to merge with rival Seadrill amid a resurgence in the offshore drilling industry, fueled by stable oil prices and reduced US shale production. The merger could enhance Transocean's backlog of contracts, leveraging advanced rigs for deep-water drilling. Both companies have faced challenges recently, with Transocean's shares down 35% this year and Seadrill's down 26%. A final decision on the merger is pending.

October 23, 2024
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