Transocean Ltd (NYSE:RIG) said it has secured new contracts and extensions valued at a combined $184 million for its offshore drilling fleet.
The company disclosed that its Transocean Encourage rig received a seven-well contract extension, which is expected to add roughly 365 days of work. The additional term is slated to commence in the first quarter of 2027.
The awards add to Transocean’s forward backlog, reinforcing visibility on future activity as the offshore drilling specialist continues to lock in longer-term work for its rigs.