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.