[8-K] Transocean Ltd. Reports Material Event

Rhea-AI Filing Summary

Transocean Ltd. (RIG) reported that customers exercised contract options for one ultra-deepwater drillship and two harsh-environment semisubmersible rigs, adding approximately $89 million in firm contract backlog. In Brazil, Petrobras exercised a 90-day option for the Deepwater Mykonos, expected to contribute about $33 million in backlog. In Norway, a two-well option was exercised for the Transocean Enabler at a dayrate of $453,000, excluding additional services. In Romania, OMV Petrom exercised a one-well option for the Transocean Barents at a dayrate of $480,000 per day, reinforcing demand for Transocean’s high-specification offshore fleet.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of report (date of earliest event reported): November 18, 2025

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TRANSOCEAN LTD.

(Exact name of Registrant as specified in its charter)

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Switzerland		001-38373		98-0599916
(State or other jurisdiction of	​	(Commission	​	(I.R.S. Employer
incorporation or organization)	​	File Number)	​	Identification No.)

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Turmstrasse 30		​
Steinhausen, Switzerland	​	CH-6312
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(Address of principal executive offices)	​	(zip code)

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Registrant’s telephone number, including area code: +41 (41) 749-0500

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act
Title of each class	Trading Symbol	Name of each exchange on which registered:
Shares, $0.10 par value	RIG	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 7.01Regulation FD Disclosure.

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Transocean Ltd. (NYSE: RIG) today announced contract fixtures for one ultra-deepwater drillship and two harsh environment semisubmersibles. In aggregate, the fixtures represent approximately $89 million in firm contract backlog.

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In Brazil, Petrobras exercised a 90-day option for the Deepwater Mykonos in direct continuation of its current program. The program is expected to contribute approximately $33 million in backlog.

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In Norway, a two-well option was exercised for the Transocean Enabler at a dayrate of $453,000 per day, excluding additional services.

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In Romania, OMV Petrom exercised a one-well option for the Transocean Barents at a dayrate of $480,000 per day.

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A copy of the press release announcing the fixtures referred to above is attached hereto and incorporated herein by reference as Exhibit 99.1.

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Item 9.01  Financial Statements and Exhibits.

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(d)  Exhibits.

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Exhibit No.		Description
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99.1	​	Transocean Ltd. Announces Exercised Options Totaling $89 Million
101	​	Interactive data files pursuant to Rule 405 of Regulation S-T formatted in Inline Extensible Business Reporting Language
104	​	Cover Page Interactive Data File (formatted as inline XBRL).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

​	TRANSOCEAN LTD.
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Date: November 18, 2025	By:	/s/ Debra Kupferman
​	​	Debra Kupferman
​	​	Authorized Person

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FAQ

What did Transocean Ltd. (RIG) announce in this 8-K filing?

Transocean Ltd. announced that customers exercised contract options for one ultra-deepwater drillship and two harsh-environment semisubmersibles, adding approximately $89 million in firm contract backlog.

How much contract backlog did Transocean (RIG) add from these options?

The exercised options are expected to add about $89 million in firm contract backlog across three offshore drilling rigs.

What is the value of the Petrobras contract option for Deepwater Mykonos?

In Brazil, Petrobras exercised a 90-day option for the Deepwater Mykonos, which is expected to contribute approximately $33 million in contract backlog.

What dayrate will Transocean receive for the Transocean Enabler in Norway?

For the Transocean Enabler in Norway, a two-well option was exercised at a dayrate of $453,000 per day, excluding additional services.

What dayrate did OMV Petrom agree to pay for the Transocean Barents?

In Romania, OMV Petrom exercised a one-well option for the Transocean Barents at a dayrate of $480,000 per day.

Which Transocean rigs are covered by the newly exercised options?

The exercised options cover the ultra-deepwater drillship Deepwater Mykonos in Brazil and the harsh-environment semisubmersibles Transocean Enabler in Norway and Transocean Barents in Romania.

Does this Transocean 8-K include any financial statements?

The 8-K identifies Exhibit 99.1 as a press release about the $89 million of exercised options and includes interactive data files as additional exhibits, but it does not present full financial statements in the excerpt provided.