Transocean Stock Hits 52-Week High: What's Driving The Action?

Transocean stock is approaching key resistance levels. What’s behind RIG new highs?Norway Contracts Boost BacklogTransocean secured contract fixtures for two of its harsh environment semisubmersibles in Norway, which are expected to significantly enhance its backlog. The Transocean Encourage was awarded a seven-well contract extension, estimated to provide around $152 million in backlog, while the Transocean Enabler has two one-well options exercised, contributing an additional $32 million.These contracts a ...