Welcome to our dedicated page for Transocean Ltd. SEC filings (Ticker: RIG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Transocean Ltd. filings document an offshore contract drilling issuer whose shares are registered on the New York Stock Exchange under RIG. Its Form 8-K reports furnish operating results, financial condition disclosures, Regulation FD fleet status reports and exhibits covering drilling rig status, contract information and backlog-related updates for ultra-deepwater drillships and harsh-environment semisubmersibles.
The company’s regulatory record also includes statutory consolidated financial statements, proxy and governance materials, shareholder voting matters, capital-structure disclosures and material-event reports related to rig awards, contract extensions, debt actions and registered share information.
Transocean Ltd. (RIG) disclosed that its ultra-deepwater drillship Deepwater Conqueror has been awarded a two-well contract in Equatorial Guinea with an undisclosed operator. The work is an estimated 170-day campaign expected to commence in 2027 in direct continuation of the rig’s current contract in the U.S. Gulf.
The new contract is expected to contribute approximately $80 million in backlog, excluding any additional services and mobilization or demobilization compensation. Transocean describes itself as a leading offshore drilling contractor, operating a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment floaters, focused on technically demanding offshore projects.
Transocean Ltd. (RIG) reported that it received a two-year binding Letter of Award from ONGC in India for its ultra-deepwater drillship Dhirubhai Deepwater KG2. The campaign is expected to start in the first quarter of 2027 and generate approximately $300 million in contract value, including additional services and mobilization fees.
The contract also contains two years of priced options which, if fully exercised, would keep the drillship working in India into early 2031. Transocean describes itself as a leading offshore contract driller with a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment floaters.
Transocean Ltd. reported solid improvement for the quarter ended June 30, 2026. Contract drilling revenues were $966 million, slightly below $988 million a year earlier, but net results swung to a net income of $170 million from a $938 million loss, largely because 2025 included $1.14 billion of rig impairment charges. Basic earnings per share were $0.15, and six‑month net income was $241 million on contract drilling revenues of $2.05 billion.
Cash generation and the balance sheet strengthened. Net cash from operating activities rose to $400 million for the first half, while unrestricted cash was $509 million and restricted cash $286 million at June 30, 2026. Total debt principal declined to $5.11 billion from $5.69 billion, helped by redeeming $358 million of 8.375% senior secured notes. Transocean has a $510 million Secured Credit Facility with $456 million available and no borrowings. As of August 5, 2026, contract backlog was $6.73 billion, and key operating metrics were strong, with total fleet average daily revenue of $472,500, revenue efficiency of 97.0% and rig utilization of 78.2%. The company is pursuing an all‑share acquisition of Valaris, offering 15.235 Transocean shares for each Valaris share, and has incurred $17 million of related acquisition costs year‑to‑date.
Transocean Ltd. reported second quarter 2026 contract drilling revenues of $966 million and net income of $170 million, compared with a loss of $938 million a year earlier. Basic earnings per share were $0.15, and total fleet revenue efficiency was 97.0%. Adjusted EBITDA was $312 million, while net cash from operating activities reached $236 million and free cash flow was $212 million.
Total debt (principal) declined to $5,107 million at June 30, 2026, with a net debt to EBITDA ratio of 2.8x. As of August 5, 2026, contract backlog was approximately $6.7 billion, excluding a conditional Equinor agreement for three harsh environment semisubmersibles valued at about $1.0 billion. For 3Q26, the company guides contract drilling revenues of $920–$960 million and full‑year 2026 revenues of $3.9–$3.975 billion, with total liquidity forecast between $1.25–$1.35 billion.
Transocean Ltd. director Chad C. Deaton reported an open-market purchase of company shares. On July 2, 2026, he bought 35,000 Registered Shares at $4.95 per share. Following this transaction, his directly held position increased to 237,421 shares of Transocean.
Transocean Ltd. announced an agreement with Equinor, conditional on license approvals, to use three harsh-environment semisubmersible rigs on the Norwegian shelf. The deal adds contract backlog worth over $1 billion across seven rig years, with a base day rate of $399,000 that is expected to exceed $400,000 per day at commencement.
The programs cover the Transocean Enabler and Transocean Encourage from the first quarter of 2028, and Transocean Endurance from the second quarter of 2027. Separately, Transocean’s planned share-for-share business combination with Valaris advanced as the companies received CFIUS approval, while a DOJ Second Request under the HSR Act extends the regulatory review timeline, with commitments not to certify substantial compliance before July 31, 2026. They continue to expect closing in the second half of 2026, subject to remaining approvals and shareholder votes.
Transocean Ltd. announced new contract awards for two harsh environment semisubmersible rigs, adding approximately $185 million to its firm contract backlog. These long-term drilling awards extend future revenue visibility across Norway and Australia.
The Transocean Norge secured a five-well contract with Harbour Energy in Norway, covering an estimated 300 days of work starting in the first quarter of 2028, contributing about $149 million in backlog and including three one-well options. The Transocean Equinox received a two-well contract with Santos in Australia, expected to begin in the second quarter of 2027, adding roughly $36 million in backlog and carrying five one-well options. Transocean highlights its focus on ultra-deepwater and harsh environment operations, supported by a fleet of 27 mobile offshore drilling units.
Transocean Ltd. director William F. Lacey reported routine equity compensation transactions. On May 22, 2026, he acquired 82,353 Registered Shares through the exercise or conversion of a derivative security at $6.81 per share and received a grant of 30,435 Restricted Units at no cost under the long-term incentive plan.
These Restricted Units are 1-for-1 Registered Share equivalents that will vest on the earlier of May 22, 2027 or the next Annual General Meeting following the grant. On May 26, 2026, 20,934 Registered Shares were disposed of at $6.70 per share solely to satisfy tax withholding obligations upon vesting. After these transactions, Lacey directly holds 61,419 Registered Shares, plus the 30,435 unvested Restricted Units.
Transocean Ltd. director Chad C. Deaton reported compensation-related equity transactions in the company’s shares. On May 22, 2026, he exercised derivative securities to acquire 82,353 registered shares at $6.81 per share and received a grant of 30,435 Restricted Units, which are 1-for-1 registered share equivalents under the long-term incentive plan.
On May 26, 2026, 20,932 registered shares were disposed of at $6.70 per share to satisfy tax withholding obligations upon vesting of previously granted Restricted Units, rather than through an open-market sale. After these transactions, he directly holds 202,421 registered shares, and the new 30,435 Restricted Units will vest on the earlier of May 22, 2027 or the next Annual General Meeting, and will be settled in registered shares following vesting.
Transocean Ltd. director Frederik Wilhelm Mohn reported routine equity compensation activity and related tax withholding. On May 22, 2026, he exercised derivatives to acquire 82,353 Registered Shares at $6.81 per share and received a grant of 30,435 Restricted Units, which are 1‑for‑1 registered share equivalents under the company’s long‑term incentive plan. The new Restricted Units vest on the earlier of May 22, 2027 or the next annual general meeting and will be settled in registered shares after vesting. On May 26, 2026, 25,597 Registered Shares were withheld and sold to satisfy tax withholding obligations upon vesting of prior awards. After these transactions, Mohn holds 78,904 Registered Shares directly and is the indirect beneficial owner of 96,574,894 Registered Shares held by Perestroika (Cyprus) Ltd., a subsidiary of Perestroika AS, which he ultimately owns.