No Surprises From Transocean By Ben Thomas About this article: For Thomas's preview heading into the Transocean conference call, please click here. Transocean reported an in-line quarter, but the tone of the call was mostly upbeat. For the quarter just ended, the company posted adjusted EPS of $2.65 on revenue of $2.82 billion. The company's total drilling fleet had an average dayrate of $283,800 (up sequentially and year over year) but had lower utilization (currently 75% vs. 85% last quarter and 89% a year ago) as the company stacked a couple more shallow-water rigs. Management stated that the company is likely to end the year with 26 jackups stacked and that it could see some reactivations in 2010. The company is not looking to actively reduce capacity but rather stacking rigs as they come off contract and don't have any prospects. The stabilization of commodity prices has allowed for more activity. As a result, dayrates on deep-water rigs... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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