Transocean wraps up $2.7B Ocean Rig acquisition

Offshore drilling giant Transocean has become even bigger as it on Wednesday evening announced the completion of the acquisition of Ocean Rig UDW, an ultra-deepwater drilling specialist. However, it’s not the size that’s driving the acquisition, it’s the quality.

In a brief update, Transocean said the acquisition added nine high-specification ultra-deepwater drillships, two harsh environment semi-submersibles, and two high-specification ultra-deepwater drillships currently under construction to Transocean’s existing fleet. These two newbuilds are expected to be delivered in the third quarter of 2019 and the third quarter of 2020, respectively.

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