Transocean anticipates more long-term rig deals over next few months

(Offshore-energy.biz) Offshore drilling contractor Transocean is looking forward to securing new assignments for its rig fleet, thanks to the high demand for offshore drilling services on the global oil and gas stage. The rig owner’s expectations of further long-term contracts are fueled by the current upcycle and deals awarded in the first quarter of 2024.

Transocean’s most recent fleet status report shows that the rig owner’s aggregate incremental backlog associated with two contract extensions, which were obtained in 1Q 2024, is approximately $248 million, lifting the firm’s total backlog to around $8.9 billion as of April 17, 2024. Within its previous fleet status report, the company revealed more work for drillships and semi-submersibles, however, the latest one is all about drillship assignments. With the drilling market upcycle in full swing, the offshore drilling heavyweight raked in a $3.2 billion boost in contract backlog last year.

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