Transocean secures $550 million in drilling contracts
- Transocean secured two ultra-deepwater drillship contracts in the U.S. Gulf, adding approximately $550 million in firm contract backlog.
- Deepwater Proteus accounts for approximately $325 million over 700 days, while Deepwater Conqueror contributes $225 million over 450 days.
- Transocean expects both campaigns to begin in 2027, extending scheduled drilling activity for the two vessels.
Transocean (NYSE:RIG) announced two U.S. Gulf drilling contracts worth approximately $550 million in combined firm backlog for Deepwater Proteus and Deepwater Conqueror.
The awards follow Transocean's October 9 announcement of approximately $1.1 billion in backlog additions and confirmed commitments, including its Equinor agreement.
Deepwater Proteus secured a ten-well contract with an undisclosed operator, with Transocean expecting the 700-day campaign to contribute approximately $325 million in backlog.
Deepwater Conqueror received a five-well award worth approximately $225 million over 450 days, excluding mobilization fees, with both customers remaining undisclosed.
Transocean expects Proteus to begin drilling in Q1 2027 and Conqueror in Q3 2027.
The Proteus campaign will follow its existing U.S. Gulf assignment, while Conqueror's new work is scheduled after its Equatorial Guinea program.
Transocean previously announced a $300 million drillship contract in August and an $80 million Equatorial Guinea award in September, alongside Norwegian drilling commitments.
