Transocean Gets $550M Contract Backlog for Offshore Drilling Ships
Dow Jones10-19 18:41
Kelly Cloonan
Transocean received $550 million in contract awards in the Gulf of Mexico for two of its deepwater rigs.
The offshore contract drilling services provider said Monday its Deepwater Proteus drillship got a 10-well contract that is expected to contribute about $325 million in backlog. The work is expected to start in the first quarter of 2027 and last for about 700 days.
Additionally, Transocean's Deepwater Conqueror was awarded a five-well contract that is expected to contribute about $225 million in backlog, excluding mobilization fees. The work is expected to start in the third quarter of 2027, continuing the rig's program in Equatorial Guinea, and take 450 days.
Both contracts are with undisclosed operators.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments