Transocean's high-specification drillships have been cold-stacked for many years already thus substantially increasing execution risk and reactivation expense.

Source: https://seekingalpha.com/article/4580923-transocean-q4-earnings-post-earnings-sell-off-provides-buying-opportunity?source=feed_all_articles

Unfortunately, some of the highest-specification rigs have been cold-stacked for more than half a decade already and neither Transocean nor any of its competitors have ever tried to reactivate a drillship that has been sitting idle for so many years.

Source: https://seekingalpha.com/article/4577093-transocean-stock-increases-backlog-16-percent-sequentially-buy?source=feed_all_articles