The world’s largest offshore rig operator Transocean has hired Lazard to advise it on strategic alternatives for its capital structure, Bloomberg has reported, citing a company statement. Transocean reported a net loss of $497 million for the second quarter of the year, compared to a negative result of $392 million for the first quarter. Still, the offshore rig operator also reported an increase in contract drilling revenues for the second quarter, at $930 million, up from $759 million for the first quarter of the year. The offshore drilling rig segment of the energy industry has been among the ones hardest hit by the crisis, especially since it hadn’t yet had time to recover from the previous one. Offshore rig operators already had an oversupply of rigs when the 2014-2016 crisis came, Bloomberg notes, and they have been struggling since then as many upstream companies abandoned their offshore efforts in […]