December 20, 2014 5:06 AM ET

Energy Equipment and Services

Company Overview of Transocean Norway Drilling AS

Company Overview

Transocean Norway Drilling AS, a drilling contractor, owns and operates offshore drilling rigs in Norway. It has two semi-submersible rigs, including Transocean Spitsbergen and Transocean Barents. The company was formerly known as Aker Drilling ASA and changed its name to Transocean Norway Drilling AS in October 2011. Transocean Norway Drilling AS is based in Stavanger, Norway. Transocean Norway Drilling AS is a subsidiary of Transocean Ltd.

Maskinveien 26

Stavanger,  4033

Norway

Phone:

47 51 21 49 00

Fax:

47 41 21 49 01

Key Executives for Transocean Norway Drilling AS

Chief Executive Officer and President
Age: 51
Finance Director
Age: 46
Executive Vice President of Operations
Age: 58
Senior Vice President and General Counsel
Age: 47
Human Resource Director
Age: 60
Compensation as of Fiscal Year 2014.

Transocean Norway Drilling AS Key Developments

Transocean Norway Drilling AS Announces Financial Results for the Fourth Quarter and Full Year of 2012

Transocean Norway Drilling AS announced financial results for the fourth quarter and full year of 2012. For the quarter, the company reported operating revenues of $99,925,000 compared to $105,685,000 a year ago. Operating profit before depreciation was $48,774,000 compared to $62,321,000 a year ago. Result from operating activities was $31,922,000 compared to $44,754,000 a year ago. Profit before tax was $18,908,000 compared to $30,400,000 a year ago. Profit from continuing operations was $3,969,000 compared to $10,358,000 a year ago. Profit for the period was $3,969,000 compared to $9,601,000 a year ago. Net cash from operating activities was $75,049,000 compared to $39,880,000 a year ago. Acquisition of property, plant and equipment was $3,314,000 compared to $11,075,000 a year ago. For the year, the company reported operating revenues of $401,133,000 compared to $417,540,000 a year ago. Operating profit before depreciation was $218,810,000 compared to $239,993,000 a year ago. Result from operating activities was $150,379,000 compared to $171,224,000 a year ago. Profit before tax was $87,540,000 compared to $41,645,000 a year ago. Profit from continuing operations was $63,629,000 compared to $12,696,000 a year ago. Profit for the period was $73,721,000 compared to $11,792,000 a year ago. Net cash from operating activities was $243,976,000 compared to $192,042,000 a year ago. Acquisition of property, plant and equipment was $10,529,000 compared to $280,600,000 a year ago. Net interest bearing debt (excluding Eksportfinans) was $172,000 against $743,000 a year ago.

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