Transocean Secures Four Q2 Drilling Rig Deals, Adding $199M to Backlog

Transocean has secured four Q2 drilling rig deals, adding $199M to its backlog. The company won two extensions and two new contracts for four rigs. The undisclosed client exercised two one-well options in Australia. Transocean's stock price rose 1.1% in pre-market trading on Thursday.

Transocean Ltd. (NYSE: RIG) has reported significant progress in its offshore drilling operations, securing four key drilling rig deals in the second quarter of 2025. The company has added approximately $199 million to its backlog, reflecting a robust performance in the competitive offshore drilling market [1][2].

The company's quarterly Fleet Status Report, released on July 16, 2025, detailed the contract extensions and new agreements. Two one-well options were exercised by an undisclosed client in Australia for the Transocean Equinox semisub at a $540,000 per day rate, extending the rig's work until September 2026 [3]. Additionally, Transocean won a two-well extension for the Transocean Spitsbergen from Equinor at a $395,000 per day rate, keeping the rig operational until August 2027 [3]. Furthermore, a three-well contract in Ivory Coast was secured for the Deepwater Skyros drillship at a $361,000 per day rate, set to commence in December 2025 and conclude in March 2026 [3]. A 60-day extension was also awarded to the Deepwater Mykonos by Petrobras for work in Brazil, with options up to an additional 120 days [3].

These new contracts and extensions have bolstered Transocean's backlog, bringing the total to approximately $7.2 billion as of July 16, 2025 [2]. The company's stock price responded positively to the news, rising 1.1% in pre-market trading on Thursday, July 2 [3].

The strong performance underscores Transocean's ability to secure lucrative contracts in diverse regions, including Australia, Norway, and Ivory Coast. The company's focus on technically demanding sectors and its high-specification floating offshore drilling fleet continue to be significant advantages in the global offshore drilling market [2].

References:
[1] https://www.finanznachrichten.de/nachrichten-aktien/transocean-ltd.htm
[2] https://www.stocktitan.net/news/RIG/transocean-ltd-provides-quarterly-fleet-status-bpmrrtbhbdsc.html
[3] https://seekingalpha.com/news/4468347-transocean-wins-four-q2-drilling-rig-deals-adding-199m-to-backlog