Shares of Transocean fall on announcement of $1.35 billion rig sale

CNBC ------ Shares of Switzerland-based Transocean fell more than 4 percent Monday after international drilling contractor Borr Drilling announced it will acquire 15 of Transocean's rigs in a deal valued at $1.35 billion. The 15 oil rigs being acquired include Transocean's entire jackup fleet, which is comprised of 10 of Transocean's own rigs and five new rigs under construction, the press release said. The estimated $1.35 billion price tag includes any remaining contract backlogs and yard installments, or any fees that would be required of the 5 rigs still under construction, Borr Drilling said. To learn more click on the picture below to read the article.