Transocean Secures $550M Drillship Contracts

By Hao Liu • Monday, October 19 13:02 • Permanent Link

Transocean said it won two ultra-deepwater drillship contracts in the U.S. Gulf worth a combined $550 million in firm backlog.

The larger award went to the Deepwater Proteus, which landed a 10-well contract expected to add about $325 million to backlog. The campaign is estimated at 700 days and is set to start in the first quarter of 2027, directly following the rig’s current U.S. Gulf job.

The Deepwater Conqueror secured a five-well contract expected to contribute about $225 million to backlog, excluding mobilization fees. That work is estimated at 450 days and is scheduled to begin in the third quarter of 2027, continuing straight from the rig’s program in Equatorial Guinea.

Together, the two fixtures represent roughly $550 million in firm contract backlog. Transocean said it operates a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh-environment floaters. The market has reacted to these announcements by moving the company's shares 2.0% to a price of $5.62. If you want to know more, read the company's complete 8-K report here.

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