RIG

Transocean Ltd. (RIG) has secured approximately $550 million in new offshore drilling contracts for its ultra-deepwater drillships Deepwater Proteus and Deepwater Conqueror in the U.S. Gulf, with operations commencing in 2027. The contracts add $325 million and $225 million to backlog respectively and reflect strong demand for advanced deepwater drilling equipment amid improving offshore exploration activity.

Transocean has received unconditional antitrust approval from Brazil's CADE for its $5.8 billion all-stock acquisition of Valaris, following earlier U.S. Department of Justice clearance. The deal, expected to close in Q4 2026, will create a 73-rig diversified fleet with over $200 million in cost synergies and a $10 billion backlog, positioning the combined company as an offshore drilling industry leader.

Transocean Ltd. has secured approximately $1.1 billion in new firm backlog additions through contracts with Shell and Equinor. Shell's two-well contract with its Norwegian subsidiary adds $62 million for the Transocean Norge rig, while Equinor's final approval converts $1 billion into firm backlog for three harsh-environment semisubmersible rigs operating offshore Norway. These agreements strengthen Transocean's contracted drilling activity and visibility in the Norwegian Continental Shelf.