DealsMay 4, 2026, 05:27 PM
Transocean Secures $1.6B in New Contracts; Backlog Reaches $7.1B
AI Summary
Transocean Ltd. announced significant contract awards and extensions for several of its offshore drilling rigs, adding approximately $1.6 billion to its backlog. These new fixtures include a 1,095-day contract for the Transocean Barents with Vår Energi ASA and extensions for three Deepwater rigs with Petrobras in Brazil. As a result, the company's total contract backlog now stands at approximately $7.1 billion.
Key Highlights
- Transocean Barents awarded a 1,095-day contract with Vår Energi ASA in Norway.
- Deepwater Orion received a 1,095-day contract extension with Petrobras in Brazil.
- Deepwater Aquila secured a 365-day contract extension with Petrobras in Brazil.
- Deepwater Corcovado awarded a 1,156-day contract extension with Petrobras in Brazil.
- Deepwater Asgard secured a five-well contract in the Eastern Mediterranean Sea.
- Aggregate incremental backlog from these fixtures is approximately $1.6 billion.
- Total company backlog as of May 4, 2026, is approximately $7.1 billion.