Transocean Adds $1.6 Billion in Contracts, Lifting Backlog to $7.1 Billion

The awards point to steady demand for high-spec offshore rigs across three key regions.

Overview

Transocean, which released its quarterly Fleet Status Report on Monday, reported about $1.6 billion in new backlog and a total of roughly $7.1 billion.
In Norway, Transocean Barents won a 1,095-day contract with Vår Energi for harsh-environment drilling.
In Brazil, Petrobras extended Deepwater Orion for 1,095 days, Deepwater Aquila for 365 days, and Deepwater Corcovado for 1,156 days.
In the Eastern Mediterranean, Deepwater Asgard secured a five-well contract.
Transocean runs 27 floating rigs for very deep water and harsh seas, and backlog gives investors a view of near-term revenue; the full report is posted at deepwater.com.