Transocean shares rose 8.6% in Tuesday's trading after the company said its Deepwater Conqueror ultra-deepwater drillship was awarded a two-well contract for work in Equatorial Guinea by an undisclosed operator. The estimated 170-day campaign is expected to begin in 2027, in direct continuation of the rig's current contract in the U.S. Gulf, and is expected to contribute approximately $80M in backlog, excluding additional services and compensation for mobilization and demobilization. Transocean owns or has partial ownership interests in and operates a fleet of 27 mobile offshore drilling units, consisting of 20 ultra-deepwater floaters and seven harsh environment floaters. The company said in August that Africa would drive demand for new deepwater contracts, with the gain expected to offset a decline in U.S. Gulf-based contracts.
Transocean LtdTransocean's Deepwater Conqueror drillship won a two-well Equatorial Guinea contract worth ~$80M in backlog, a concrete new order.
