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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1451505	Transocean Ltd.	RIG	Drilling Oil & Gas Wells (1381)	980599916

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1013579	W Thomas Cason	10 Chemin De Blandonnet Vernier V8 1214		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Registered Shares	Acquisiton	2011-05-16	3,387	$64.64	13,426	No	4	M	Direct
Registered Shares	Disposition	2011-05-16	3,387	$70.00	10,039	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Registered Shares	Deferred Units	Acquisiton	2011-05-13	3,768	$0.00	3,768	$0.00
Registered Shares	Stock Options	Disposition	2011-05-16	3,387	$0.00	3,387	$64.64

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,768			No	4	M	Direct
0		2011-05-17	No	4	M	Direct

Footnotes

The transactions reported in Table I of this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
Deferred Units, which are 1-for-1 registered share equivalents, were acquired on May 13, 2011 pursuant to the issuer's long-term incentive plan. Deferred Units vest in equal installments on May 13, 2012, 2013 and 2014. Pursuant to the award agreement, such Deferred Units will be payable in registered shares of the issuer upon the reporting person's death, disability or retirement from the Board.
The options are fully vested and exercisable.