Dahlman Rose's Offshore Drilling Report For Transocean, Ltd.

Transocean, Ltd. (NYSE: RIG) disclosed its quarterly dividend on Friday after a capital reduction, reported a planned $0.82 dividend that was supposed one of four quarterly dividends that would eventually total $3.20, only to have the project rejected by Switzerland regulators, according to Dahlman Rose.

The projected dividend pay out was presented to shareholders in May 2010 and had been approved, Dahlman reports, and it is believed that the rejection was enforced was because of ongoing lawsuits between the U.S. and Switzerland over the Macondo well accident.

Transocean disclosed a new three (3) year contract for its 300ft jack-up GSF Key Gibraltar for work in Southeast Asia at roughly $105,000/day, a deal that has been on hold since early 2009, according to Dahlman.

Dahlman currently rates Transocean as a "hold" stock, which closed yesterday at $54.15.