SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 15, 2002
TRANSOCEAN INC.
(Exact name of registrant as specified in its charter)
CAYMAN ISLANDS 333-75899 66-0587307
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
4 GREENWAY PLAZA
HOUSTON, TEXAS 77046
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (713) 232-7500
ITEM 9. REGULATION FD DISCLOSURE.
In accordance with Regulation FD, information is being furnished below in
connection with presentations being made by officers of Transocean Inc. (the
"Company"):
The Company's current view of supply/demand balance for the Company's
deepwater rigs is over supply in the Gulf of Mexico market segment with demand
declining, balance in the North Sea and Brazil market sectors with demand flat,
balance in the West Africa market segment with demand increasing and under
supply in the Middle East and Southeast Asia market segments with demand
increasing. The Company's current view of supply/demand balance for the
Company's midwater rigs is over supply in the Gulf of Mexico market sector with
demand increasing, over supply in the North Sea market segment with demand
decreasing, over supply in West Africa with demand flat and balance in the
Brazil and Southeast Asia market segment with demand flat. The Company's
current view of supply/demand balance for the Company's jackup rigs is over
supply in the Gulf of Mexico market segment with demand increasing, over supply
in the North Sea market sector with demand flat, balance in the Brazil and
Southeast Asia market segments with demand flat and under supply in the West
Africa and Middle East market sectors with demand increasing.
As of April 30, 2002, a $5,000 change in the dayrate assumption associated
with uncommitted fleet days in 2002 equates to an estimated $0.45 change in
earnings per share.
The statements described in this report that are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements
to the effect that the Company or management "anticipates," "believes,"
"budgets," "estimates," "expects," "forecasts," "intends," "plans," "predicts,"
or "projects" a particular result or course of events, or that such result or
course of events "could," "might," "may" or "should" occur, and similar
expressions, are also intended to identify forward-looking statements.
Forward-looking statements described above include, but are not limited to, rig
demand and changes to earnings per share resulting from a change in dayrate
assumption. Such statements are subject to numerous risks, uncertainties and
assumptions, including but not limited to, uncertainties relating to the level
of activity in offshore oil and gas exploration and development, exploration
success by producers, oil and gas prices, demand for offshore and inland water
rigs, competition and market conditions in the contract drilling industry, the
Company's ability to successfully integrate the operations of acquired
businesses, possible delay or cancellation of drilling contracts, work
stoppages, the Company's ability to enter into and the terms of future
contracts, the availability of qualified personnel, labor relations and the
outcome of negotiations with unions representing workers, operating hazards,
political and other uncertainties inherent in non-U.S. operations (including
exchange and currency fluctuations), war, terrorism and cancellation or
unavailability of insurance coverage, the impact of governmental laws and
regulations, the adequacy of sources of liquidity, the effect of litigation and
contingencies and other factors discussed in the Company's Form 10-Q for the
quarter ended March 31, 2001, Form 10-K for the year ended December 31, 2001 and
in the Company's other filings with the SEC, which are available free of charge
on the SEC's website at www.sec.gov. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated. You should not place
undue reliance on forward-looking statements. Each forward-looking statement
speaks only as of the date of the particular statement, and we undertake no
obligation to publicly update or revise any forward-looking statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TRANSOCEAN INC.
Date: May 15, 2002 By: /s/ Eric B. Brown
-----------------------------------
Name: Eric Brown
Title: Senior Vice President, General
Counsel and Corporate Secretary