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Transocean says Q1 net income surges to $456 million

HOUSTON, May 7 (Reuters) - Transocean Ltd., the world's top offshore driller for enegy producers, posted first-quarter net income on Wednesday of $456 million, a 42 percent rise from a year ago, thanks to an uptick in revenue and lower costs and taxes.

Operating revenues rose 7 percent to $2.34 billion while costs fell 5.8 percent to $1.6 billion.

(Reporting By Terry Wade)