UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Brown, Eric B.
4 Greenway Plaza
Houston, TX 77046
USA
2. Issuer Name and Ticker or Trading Symbol
Transocean Offshore Inc.
RIG
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
September 10, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |8/27/9|M | |2,267 |A |$46.875 | | | |
|7 | | | | | | | | |
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Common Stock |8/27/9|S | |2,267 |D |$91.0625 | | | |
|7 | | | | | | | | |
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Common Stock |3/12/9|A |V|800(1) |A | | | | |
|7 | | | | | | | | |
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Common Stock |8/27/9|S | |588 |D |$90.625 |4,407(2) |D | |
|7 | | | | | | | | |
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| | | | | | |90 |I |(3) |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Executive Stock Option|$46.875 |8/27/|M | |2,267 |D |(4) |2/22/|Common Stock|2,267 | |4,533 |D | |
s | |97 | | | | | |06 | | | | | | |
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Executive Stock Option|$20.25 | | | | | |(5) |1/31/|Common Stock| | |5,000 |D | |
s | | | | | | | |05 | | | | | | |
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Executive Stock Option|$57.50 |3/12/|A |V| | |(6) |3/11/|Common Stock| | |4,000 |D | |
s | |97 | | | | | |07 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Grant of restricted stock under the Transocean Offshore Inc. Long-Term
Incentive Plan ("LTIP"). The shares
vest as follows: 267 on 3/12/00, 267 on 3/12/01 and 266 on 3/12/02.
(2) Includes shares of unvested restricted stock granted under the
LTIP.
(3) Shares held under the Transocean Offshore Savings Plan at 12/31/96. The
number of shares listed approximate
because Plan accounting is on a unit
basis.
(4) Grant of 6,800 options under the LTIP exercisable as follows: 2,267 on
2/23/97, 2,267 on 2/23/98 and 2, 266 on
2/23/99.
(5) Grant of 7,500 options under the LTIP exercisable as follows: 2,500 on
2/1/96, 2,500 on 2/1/97 and 2,500 on
2/1/98.
(6) Grant of 4,000 options under the LTIP exercisable as follows: 1,333 on
3/12/98, 1,333 on 3/12/99 and 1,334 on
3/12/00.
This statement confirms that the undersigned has authorized and designated
Nicolas J. Evanoff to execute and file
on the undersigned's behalf all Forms 3, 4 and 5 (including any amendments
thereto) that the undersigned may be
required to file with the U.S. Securities Exchange Commission as a result of
the undersigned's ownership of or
transactions in securities of Transocean Offshore Inc. The authority of
Nicolas J. Evanoff shall continue until the
undersigned is no longer required to file Forms 3, 4 and 5 with regard to
securities of Transocean Offshore Inc.,
unless earlier revoked in writing. The undersigned acknowledges that Nicolas
J. Evanoff is not assuming any of the
undersigned's responsibilities to comply with Section 16 of the Securities
Exchange Act of 1934.
Date: September 10, 1997
/s/ Eric B. Brown
SIGNATURE OF REPORTING PERSON
/s/ ERIC B. BROWN by NICOLAS J. EVANOFF
DATE
September 10, 1997
