Transocean (RIG) Prolongs Its Stay With Hess and TotalEnergies

Group 1: Contract Extensions - Transocean Limited has confirmed contract extensions for two drillships, totaling $248 million [1][2] - The Deepwater Asgard drillship has extended its contract with Hess Corporation for another year at a fixed day rate of $505,000, starting June 2024 [1] - The Deepwater Skyros drillship has secured a three-well option contract extension with TotalEnergies, commencing in July 2025 at a day rate of $400,000 [2] Group 2: Fleet and Operational Details - The Deepwater Asgard is an ultra-deepwater dual-activity drillship with a maximum drilling depth of 40,000 feet and operational capabilities in depths up to 12,000 feet [1] - The Deepwater Skyros is a Samsung 12000 drillship, also with a maximum drilling depth of 40,000 feet and operational in water depths up to 12,000 feet [2] Group 3: Backlog and Market Position - As of April 17, 2024, Transocean's total backlog stands at $8.9 billion, bolstered by $3.2 billion in new contracts added last year due to a drilling market upcycle [2] - The company specializes in offshore drilling services, focusing on deepwater and harsh environment drilling [3]