Transocean Ltd. Announces Contract Award and Extension Totaling $168 Million

Core Viewpoint - Transocean Ltd. has secured a contract and an extension for two of its drilling rigs, amounting to approximately $168 million in firm backlog [1]. Group 1: Contract Awards - The Deepwater Mykonos rig has been awarded a contract with bp for an estimated 302-day campaign, expected to begin in Q3 2026, contributing approximately $120 million to the backlog, excluding additional services and mobilization costs [2]. - In Norway, three one-well options have been exercised for the Transocean Enabler, adding an incremental 105 days of work, which is expected to contribute approximately $48 million to the backlog, committing the rig through September 2027 [3]. Group 2: Company Overview - Transocean is a leading international provider of offshore contract drilling services, specializing in technically demanding sectors, particularly ultra-deepwater and harsh environment drilling [4]. - The company operates a fleet of 27 mobile offshore drilling units, which includes 20 ultra-deepwater floaters and seven harsh environment floaters [5].