Welcome to our dedicated page for Transocean news (Ticker: RIG), a resource for investors and traders seeking the latest updates and insights on Transocean stock.
Transocean Ltd. reports developments in offshore contract drilling services for oil and gas wells. The company operates in technically demanding offshore markets, with a focus on ultra-deepwater drilling and harsh-environment semisubmersible operations. Its updates commonly address drillship and semisubmersible contracts, customer options, fleet status reports, operating uptime, dayrate trends, and contract backlog across regions such as Brazil, Norway and Australia.
Recurring news for Transocean also covers quarterly and annual financial results, cash flow, liquidity, debt retirement and other capital-structure actions tied to its offshore rig fleet and long-term drilling contracts.
Transocean (NYSE: RIG) announced a binding two-year Letter of Award with ONGC in India for its ultra-deepwater drillship Dhirubhai Deepwater KG2. The campaign is expected to begin in Q1 2027 and deliver about $300 million in contract value, including additional services and mobilization fees. The deal also provides two years of priced options that could extend operations in India into early 2031.
Transocean (NYSE: RIG) reported second quarter 2026 contract drilling revenues of $966 million, with revenue efficiency of 97.0%. Net income was $170 million, or $0.04 diluted EPS, and adjusted EBITDA was $312 million, a 32.2% margin. Operating cash flow reached $236 million, yielding free cash flow of $212 million after $24 million of capex, and total liquidity exceeded $1.3 billion, including an undrawn revolver.
The company added about $292 million of new contract backlog at a weighted average dayrate of roughly $461,000, bringing total backlog to approximately $6.7 billion, excluding a conditional $1.0 billion Equinor agreement. Total debt (principal) ended the quarter at $5.1 billion, down from $6.7 billion a year earlier. For 3Q26, Transocean guides contract drilling revenues of $920–960 million and full‑year 2026 revenues of $3.9–3.975 billion, with expected fleetwide revenue efficiency of 96.5%.
Transocean (NYSE: RIG) reported its latest quarterly Fleet Status Report, highlighting new offshore drilling contracts and extensions across multiple regions. Firm awards include work for Deepwater Conqueror and Deepwater Proteus in the U.S. Gulf, Deepwater Skyros with Murphy in Ivory Coast, Transocean Norge with Harbour Energy in Norway, and Transocean Equinox with Santos in Australia, adding approximately $292 million of incremental backlog.
According to Transocean, Equinor also executed a conditional agreement for three harsh environment semisubmersibles on the Norwegian shelf, valued at about $1.0 billion. As of August 5, 2026, total backlog is approximately $6.7 billion, excluding the conditional Equinor backlog.
Transocean (NYSE:RIG) will release its second quarter 2026 earnings and issue a fleet status report on Wednesday, August 5, 2026, after the NYSE close.
The company will host a teleconference on Thursday, August 6, 2026, with live and replay access via phone and webcast.
Transocean (NYSE:RIG) agreed with Equinor, subject to license approvals, to use three harsh-environment semisubmersible rigs on the Norwegian shelf. The deal adds over $1 billion in contract backlog over seven rig years, with a base day rate of $399,000, expected to exceed $400,000 at commencement.
The agreement covers three Cat D rigs purpose-built for Equinor: Transocean Enabler (three-year program starting Q1 2028), Transocean Encourage (two-year program starting Q1 2028), and Transocean Endurance (two-year program starting Q2 2027 after mobilization from Australia).
Transocean (NYSE:RIG) announced new contract awards totaling about $185 million in firm backlog for two harsh environment semisubmersibles.
Transocean Norge received a five-well contract from Harbour Energy in Norway, adding roughly $149 million over an estimated 300 days starting in Q1 2028, plus three one-well options.
Transocean Equinox secured a two-well contract with Santos in Australia, contributing about $36 million over 90 days beginning in Q2 2027, with five one-well options.
Gulfport Energy (NYSE: GPOR) appointed Domenic J. Dell’Osso, Jr. as President and Chief Executive Officer, effective May 28, 2026. The board cited his 20+ years of energy experience and track record leading companies through transformation. Mr. Dell’Osso previously served as CEO of Expand Energy (NASDAQ: EXE).
Transocean (NYSE: RIG) reported Q1 2026 results: contract drilling revenues $1.08 billion, revenue efficiency 97.3% and net income $71 million ($0.06 diluted/share). Adjusted EBITDA was $440 million with a margin of ~40.7% and Free Cash Flow $136 million. The company retired $358 million of Deepwater Titan notes, ending the period with $1.125 billion total liquidity. It added ~$1.6 billion of backlog, bringing total backlog to approximately $7.1 billion. Guidance: Q2 2026 revenue $930–970 million; FY26 revenue $3.8–3.9 billion.
Transocean (NYSE: RIG) issued a quarterly Fleet Status Report dated May 4, 2026, detailing recent contract fixtures and fleet contract status.
Key updates: a 1,095-day contract for Transocean Barents with Vår Energi, multiple extensions with Petrobras totaling three multi-year fixtures and one one-year extension, a five-well contract for Deepwater Asgard, an aggregate incremental backlog of approximately $1.6 billion, and a total backlog of about $7.1 billion.
Transocean (NYSE: RIG) announced a five-well contract for the ultra-deepwater drillship Deepwater Asgard in the Eastern Mediterranean, adding approximately $158 million of backlog. The estimated 390-day campaign is expected to begin in Q4 2026, with backlog additions of about $1.6 billion since early April when including other fixtures.
The award excludes additional services and mobilization/demobilization compensation; the operator was not disclosed.