Transocean (RIG) – Among the 10 Best Energy Stocks to Buy Under $20 According to Billionaires

Transocean Ltd. (NYSE:RIG) is included among the 10 Best Energy Stocks to Buy Under $20 According to Billionaires.

Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells.

Transocean Ltd. (NYSE:RIG) slid after reporting its Q1 2026 results on May 4, with the company’s adjusted loss per share of $0.03 falling short of estimates by $0.11. However, the company’s revenue grew by over 19% YoY to $1.08 billion and managed to top expectations by $50 million.

Transocean Ltd. (NYSE:RIG) logged an average daily revenue of $476,000 in the first quarter, the highest in over a decade. Moreover, the company generated a free cash flow of $136 million, compared to a negative free cash flow of $34 million in the same period last year. Notably, Transocean managed to add $1.6 billion of new contracts and contract extensions on five rigs during the quarter, taking its total backlog to over $7 billion.

Transocean Ltd. (NYSE:RIG) reduced the upper end of its full-year 2026 revenue range by $50 million to $3.9 billion. Moreover, it increased its capital expenditure expectations for the year by $20 million. The company plans to retire at least $750 million in total debt in 2026, ending the year with a principal balance of around $4.9 billion.

It also needs mentioning that Transocean Ltd. (NYSE:RIG) is still seeking approval for its all-stock acquisition of Valaris. The deal will create a ~$20 billion enterprise value combined offshore drilling leader with enhanced scale and improved financial flexibility.

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