Today, our Fool.com energy analysts look at the world's largest offshore contractor driller, Transocean (NYSE:RIG). The company reported that adjusted per-share earnings from continuing operations rose to $1.37, while revenue increased 23% to $2.44 billion.

Transocean also earlier agreed to sell 38 shallow-water drillers as part of a plan to focus on the higher end of the offshore-drilling market. Transocean's revenue has improved in recent quarters; Fool.com analyst Joel South gives you the Fool scoop in the following video.

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