Edgar Filing: CAUTHEN GREGORY L

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

CAUTHEN GREGORY L

2. Issuer Name and Ticker or Trading Symbol
TRANSOCEAN INC [RIG]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Sr. VP and CFO

(Last)

(First)

(Middle)

4 GREENWAY PLAZA

3. Date of Earliest Transaction (Month/Day/Year)
01/03/2007

(Street)

HOUSTON, TX 77046

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	01/03/2007		M⁽¹⁾		50	A	$ 21.2	41,209	D
Ordinary Shares	01/03/2007		S⁽¹⁾		50	D	$ 78.93	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		900	A	$ 21.2	42,059	D
Ordinary Shares	01/03/2007		S⁽¹⁾		900	D	$ 78.92	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		513	A	$ 21.2	41,672	D
Ordinary Shares	01/03/2007		S⁽¹⁾		513	D	$ 78.91	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		566	A	$ 21.2	41,725	D
Ordinary Shares	01/03/2007		S⁽¹⁾		566	D	$ 78.9	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		617	A	$ 21.2	41,776	D
Ordinary Shares	01/03/2007		S⁽¹⁾		617	D	$ 78.89	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		589	A	$ 21.2	41,748	D
Ordinary Shares	01/03/2007		S⁽¹⁾		589	D	$ 78.88	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		33	A	$ 21.2	41,192	D
Ordinary Shares	01/03/2007		S⁽¹⁾		33	D	$ 78.87	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		1,171	A	$ 21.2	42,330	D
Ordinary Shares	01/03/2007		S⁽¹⁾		1,171	D	$ 78.86	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		686	A	$ 21.2	41,845	D
Ordinary Shares	01/03/2007		S⁽¹⁾		686	D	$ 78.85	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		183	A	$ 21.2	41,342	D
Ordinary Shares	01/03/2007		S⁽¹⁾		183	D	$ 78.84	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		943	A	$ 21.2	42,102	D
Ordinary Shares	01/03/2007		S⁽¹⁾		943	D	$ 78.83	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		1,213	A	$ 21.2	42,372	D
Ordinary Shares	01/03/2007		S⁽¹⁾		1,213	D	$ 78.82	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		212	A	$ 21.2	41,371	D
Ordinary Shares	01/03/2007		S⁽¹⁾		212	D	$ 78.81	41,159	D
Ordinary Shares	01/03/2007		M⁽¹⁾		267	A	$ 21.2	41,426	D
Ordinary Shares	01/03/2007		S⁽¹⁾		267	D	$ 78.8	41,159	D ⁽³⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

⁽²⁾

07/10/2013

Ordinary Shares

$ 0

16,560

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

900

⁽²⁾

07/10/2013

Ordinary Shares

900

$ 0

15,660

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

513

⁽²⁾

07/10/2013

Ordinary Shares

513

$ 0

15,147

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

566

⁽²⁾

07/10/2013

Ordinary Shares

566

$ 0

14,581

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

617

⁽²⁾

07/10/2013

Ordinary Shares

617

$ 0

13,964

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

589

⁽²⁾

07/10/2013

Ordinary Shares

589

$ 0

13,375

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

⁽²⁾

07/10/2013

Ordinary Shares

$ 0

13,342

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

1,171

⁽²⁾

07/10/2013

Ordinary Shares

1,171

$ 0

12,171

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

686

⁽²⁾

07/10/2013

Ordinary Shares

686

$ 0

11,485

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

183

⁽²⁾

07/10/2013

Ordinary Shares

183

$ 0

11,302

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

943

⁽²⁾

07/10/2013

Ordinary Shares

943

$ 0

10,359

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

1,213

⁽²⁾

07/10/2013

Ordinary Shares

1,213

$ 0

9,146

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

212

⁽²⁾

07/10/2013

Ordinary Shares

212

$ 0

8,934

Stock Options

$ 21.2

01/03/2007

M⁽¹⁾

267

⁽²⁾

07/10/2013

Ordinary Shares

267

$ 0

8,667

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
CAUTHEN GREGORY L 4 GREENWAY PLAZA HOUSTON, TX 77046			Sr. VP and CFO

Signatures

William E. Turcotte by Power of Attorney		01/05/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 16, 2006.
(2)	The options are fully vested and exercisable.
(3)	Reporting person had multiple transactions effected on same day pursuant to a Rule 10b5-1 trading plan which resulted in multiple Form 4 filings on January 5, 2007. Reporting person's indirect holdings of 516 ordinary shares held pursuant to Issuer Employee Stock Purchase Plan are reported on separate Form 4 filed on this date.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.