It's time to buy shares of Transocean , according to Citi. "Transocean is also favorably positioned geographically with the greatest exposure to the Golden Triangle region (Brazil, [Gulf of Mexico], West Africa) amongst peers," Gruber continued. Dayrates refer to the daily costs drilling project operators pay to drilling contractors to rent an oil rig. Transocean shares were up 2.7% Wednesday premarket. RIG YTD mountain RIG in 2023 —CNBC's Michael Bloom contributed to this report.

---

Persons: Scott Gruber, Gruber, Transocean, Dayrates, EBITDA, —, Michael Bloom Organizations: Citi Locations: Transocean, ., Brazil, Gulf of Mexico, West Africa, Sea, Norway