BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 1.Jul.2026, Words: 238) — Equinor entered into a letter of intent with Transocean for use of 3 Cat D rigs on the Norwegian continental shelf. The agreement is worth around $1bn and will contribute to reducing well costs, accelerating the delivery of […]
Tag: Transocean
Transocean reports contracts from Norway to Brazil with VĂĄr Energi and Petrobras totaling $1bn
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 2.Apr.2026, Words: 278) — Transocean Ltd. announced awards of a contract for a harsh environment semisubmersible in Norway and contract extensions for 2 ultra-deepwater drillships in Brazil. RELATED: TRANSOCEAN TO RETIRE SENIOR SECURED NOTES DUE 2028 (TITAN NOTES) In aggregate, the fixtures represent approximately $1bn in incremental firm […]
Transocean to retire senior secured notes due 2028 (Titan notes)
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 2.Apr.2026) — Transocean Ltd. retired the 8.375% senior secured notes due 2028 (Titan notes) in full on 20 Mar. 2026. The outstanding principal amount of $358mn, plus a call premium and accrued but unpaid interest, was settled using cash on hand and funds from the associated […]
Transocean-Valaris deal signals continued consolidation in offshore drilling market
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 9.Feb.2026, Words: 262) — Transocean revealed plans to acquire Valaris in an all-stock transaction valued at $5.8bn. The combination has a pro-forma value of $17bn, with Transocean shareholders owning 53%, and Valaris 47%. Wood Mackenzie views the merger as a significant step toward […]
Transocean Reveals $518mn Ultra-Deepwater Contract
(Transocean, 18.Jul.2023) — Transocean Ltd. (NYSE: RIG) announced that an independent operator awarded a 1,080-day contract for a high-specification seventh-generation, ultra-deepwater drillship in the Gulf of Mexico offshore Mexico. One of three drillships will be selected by Transocean from among Deepwater Invictus, Deepwater Thalassa, and Deepwater Proteus no later than one year prior to the earliest date in the commencement window. […]
Equinor Reveals New Oil Find Close to Barents Sea Johan Castberg Field
(Equinor, 25.May.2022) — Equinor has made a new oil discovery in Snøfonn Nord, exploration well 7220/8-2 S, by the Johan Castberg field in the Barents Sea. The well was drilled five kilometres south-southeast of discovery well 7220/8-1, which is in the Johan Castberg field, and 210 kilometres northwest of Hammerfest. […]
LatAm Offshore Activity To Slip Due To COVID-19
(IHS, 9.Apr.2020) — As the COVID-19 pandemic continues its spread across the globe, the oil and gas industry has put into practice new procedures and processes to help mitigate potential infection to its workers. In our talks with O&G players, operators and contractors alike, we are hearing about increased port […]
Transocean Extends Contract for Petrobras 10000 Through 2021
(Transocean Ltd., 28.Sep.2018) — Transocean Ltd. announced the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras. The contract is extended through October 2021, and includes a blend and extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is […]