Movement Alert｜Transocean Intraday Rise 5.52%, Wins 550 Million Dollars of US Gulf Drilling Contracts

Market Focus10-19

On October 19, Transocean saw an Intraday Rise of 5.52% in Regular Trading, trading at $5.925 per share with turnover of $25.432 million.

The move coincided with the company’s announcement that it secured about $550 million of contract awards for two ultra-deepwater drillships in the US Gulf.

Specifically, Deepwater Proteus received a 10-well contract valued at about $325 million for an estimated 700-day campaign expected to begin in the first quarter, while Deepwater Conqueror won a five-well contract worth $225 million for roughly 450 days starting in the third quarter. The awards add to a recent string of backlog and balance-sheet updates, including a $62 million Shell contract in Norway earlier this month and an amended revolving credit facility that extends maturity to October 2031 and increases commitments to $750 million.

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