Transocean Ltd. Provides Quarterly Fleet Status Report

Rhea-AI Summary

Transocean (NYSE: RIG) has released its quarterly Fleet Status Report, highlighting several contract updates for its offshore drilling fleet. The company secured multiple contract extensions and new agreements, including a $540,000 per day rate for Transocean Equinox in Australia, a $395,000 per day rate for Transocean Spitsbergen in Norway, and a $361,000 per day rate for Deepwater Skyros in Ivory Coast.

These new contracts and extensions have added approximately $199 million to the company's backlog, bringing the total backlog to $7.2 billion as of July 16, 2025.

Positive

• Secured multiple high-value contract extensions across global operations
• Strong dayrates ranging from $361,000 to $540,000
• Added $199 million to contract backlog
• Maintains substantial total backlog of $7.2 billion

Negative

• None.

STEINHAUSEN, Switzerland, July 16, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.

This quarter’s report includes the following updates:

• Transocean Equinox – Customer exercised two one-well options in Australia at a dayrate of $540,000.
• Transocean Spitsbergen – Customer exercised a two-well option in Norway at a dayrate of $395,000.
• Deepwater Skyros – Awarded a three-well contract in Ivory Coast, plus a one-well option at a dayrate of $361,000.
• Deepwater Mykonos – Awarded a 60-day extension in Brazil, plus options up to an incremental 120 days.
  
  

The aggregate incremental backlog associated with these fixtures is approximately $199 million. As of July 16, 2025, the company’s total backlog is approximately $7.2 billion.  

The report can be accessed on the company’s website: www.deepwater.com.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in and operates a fleet of 32 mobile offshore drilling units, consisting of 24 ultra-deepwater floaters and eight harsh environment floaters.

Forward-Looking Statements

The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as "possible," "intend," "will," "if," "expect," or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company's most recent Annual Report on Form 10-K for the year ended December 31, 2024, and in the company's other filings with the SEC, which are available free of charge on the SEC's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com.

This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

Analyst Contact:
Alison Johnson
+1 713-232-7214

Media Contact:
Pam Easton
+1 713-232-7647

FAQ

What is Transocean's (RIG) total contract backlog as of July 2025?

Transocean's total contract backlog stands at $7.2 billion as of July 16, 2025.

What new contracts did Transocean (RIG) secure in its latest Fleet Status Report?

Transocean secured contract extensions for Transocean Equinox in Australia, Transocean Spitsbergen in Norway, and a new three-well contract for Deepwater Skyros in Ivory Coast, among others.

What are the dayrates for Transocean's (RIG) recent contract awards?

The dayrates vary by region: $540,000 for Transocean Equinox in Australia, $395,000 for Transocean Spitsbergen in Norway, and $361,000 for Deepwater Skyros in Ivory Coast.

How much additional backlog did Transocean (RIG) add from its latest contract fixtures?

The new contract fixtures added approximately $199 million to Transocean's backlog.

What regions is Transocean (RIG) currently operating in according to the Fleet Status Report?

According to the report, Transocean is operating in multiple regions including Australia, Norway, Ivory Coast, and Brazil.