Transocean’s Backlog Increased Again – Revenue Rise Likely


  • Transocean’s backlog increased for the second consecutive quarter.
  • To be sure, Transocean’s debt load is high and higher interest rates are a threat.
  • But if the oil prices stay high enough, the company will do extremely well.
  • Transocean’s stock is not overvalued as far as its backlog is concerned.
  • RIG is a great stock for value investors.

Oil and Gas Drilling Platform


Transocean (NYSE:RIG) reported two new contract additions that are worth $1 billion altogether. This is really good news for the shareholders. It proves once again that offshore drilling is recovering, in spite of the fact the oil prices have been off their

Transocean's backlog history


Data by YCharts

Quarter Backlog
4Q20 1100
1Q21 1200
2Q21 2600
3Q21 2600
4Q21 3000
1Q22 3000
2Q22 2800
3Q22 2700

Valaris - backlog history


Data by YCharts

Data by YCharts

Data by YCharts

Disclosure: I/we have a beneficial long position in the shares of RIG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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