Transocean Secures $610M in Rig Deals, Boosting Backlog to $6.1B

In a significant boost to its order book, offshore drilling contractor Transocean has secured a series of rig deals worth a total of $610 million, according to Offshore Energy. The new contracts and extensions have increased Transocean's backlog to $6.1 billion. The Switzerland-based company obtained assignments and extensions for seven of its mobile offshore drilling units (MODUs) from its existing fleet. The deals include: - A one-well contract for the Deepwater Conqueror rig in the U.S. Gulf of Mexico - A two-well contract for the Deepwater Asgard rig, also in the U.S. Gulf - A one-well contract for the Deepwater Invictus rig in the same region - A one-well contract for the Deepwater Pontus rig in the U.S. Gulf - A one-well contract for the Deepwater Proteus rig in the U.S. Gulf - A one-well contract for the Deepwater Poseidon rig in the U.S. Gulf - A contract extension for the Transocean Barents rig in Norway The new deals, which range from one to two wells each, will keep the rigs active through the first half of 2023. This provides a solid foundation for Transocean's operations and revenue in the coming year. 'We are pleased to announce these new contracts and extensions, which add approximately $610 million in backlog and demonstrate the continued demand for our high-specification floater rigs,' said Jeremy Thigpen, Transocean's President and Chief Executive Officer. The news comes as the offshore drilling sector continues to recover from the pandemic-driven downturn, with rising commodity prices and increased investment in offshore projects driving demand for Transocean's services.