Transocean Ltd. - 2011-11-29

The company has commenced a public offering of 26,000,000 of its shares to be newly issued utilizing Transocean's authorized share capital, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 3,900,000 shares from Transocean solely to cover over-allotments, if any.

Barclays Capital Inc. and Credit Suisse Securities (USA) LLC are acting as joint book-running managers in the equity offering.