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Transocean (NYSE:RIG) +1.1% pre-market Thursday after saying in its Q2 fleet status report that it secured two extensions and two new contracts for four of its rigs.
Transocean (NYSE:RIG) said an undisclosed client exercised two one-well options in Australia for the Transocean Equinox semisub at a $540K dayrate through September 2026; the vessel is currently working in Australia on a $485K dayrate at a fixed term set to end in May 2026.
The company won a two-well extension for the Transocean Spitsbergen from Equinor at a dayrate of $395K, with the extension keeping the rig working from June 2025 until August 2027.
Transocean (RIG) also scored a three-well contract in Ivory Coast with a one-well option for the Deepwater Skyros drillship at a dayrate of $361K, set to begin in December 2025 and end in March 2026; the drillship currently works for TotalEnergies in Angola and is set to complete its work there in September.
A 60-day extension was awarded to the Deepwater Mykonos by Petrobras for work in Brazil, plus options up to an incremental 120 days; the extension will start in October 2025 and last until December 2025 at an undisclosed dayrate, although it is currently working on a deal worth $375K/day.
The aggregate incremental backlog associated with the four fixtures is ~$199M; as of July 16, Transocean’s (RIG) total backlog reached $7.2B.