Transocean has signed new contracts for its two ultra-deepwater drilling rigs in the Gulf of Mexico, with a total value of $550 million. These contracts are directly related to the ongoing operations of these rigs and are expected to have a significant impact on the operational capacity of the company.
Details of the Deepwater Proteus Drilling Contract
The Deepwater Proteus rig has received a drilling contract for 10 wells from an undisclosed operator in the Gulf of Mexico. This campaign is estimated to last 700 days and is expected to add approximately $325 million to the company's contract backlog. Drilling operations are set to begin in the first quarter of 2027 and will directly continue the current operations of this rig in the Gulf of Mexico.
Details of the Deepwater Conqueror Drilling Contract
The Deepwater Conqueror rig has also secured a drilling contract for 5 wells from another undisclosed operator in the Gulf of Mexico. This drilling program is estimated to take 450 days and is expected to add approximately $225 million to the company's contract backlog. The start of this program is planned for the third quarter of 2027 and will directly continue the program of this rig in Equatorial Guinea.
Transocean, as one of the leading drilling companies in the world, owns or has partial interests in 27 mobile offshore drilling units, including 20 ultra-deepwater rigs and 7 rigs for harsh environments. The company focuses on drilling in deep waters and harsh environments and seeks to expand its activities in this field.
These contracts have been awarded to Transocean as the company moves towards a proposed merger with Valaris. This merger could lead to increased operational capacity and reduced costs, which is very important for the company and its partners.
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