This Could Be the Next Oil Stock to Go Bankrupt

Matthew DiLallo, The Motley Fool
·4 min read
This Could Be the Next Oil Stock to Go Bankrupt

Among the few survivors is Transocean (NYSE: RIG). Transocean ended the third quarter with $7.8 billion of long-term debt and another $640 million of borrowings that mature within the next year. Further, the company ended the period with about $1.6 billion in cash, including $200 million restricted for debt service and about $1.3 billion of available borrowing capacity on its credit facility, giving it roughly $2.9 billion of total liquidity.