Offshore driller Transocean (NYSE:RIG) shares are slightly up during Thursday’s premarket session as the company recently announced a $158 million contract for the Deepwater Asgard in the Eastern Mediterranean.
This news follows a series of significant backlog additions totaling approximately $1.6 billion since early April, which may be boosting investor confidence as broader markets edged higher.
Transocean’s recent contract for the Deepwater Asgard is part of an estimated 390-day campaign expected to commence in the fourth quarter of 2026.
This contract is anticipated to contribute significantly to the company’s backlog, highlighting its ongoing operational strength in the offshore drilling sector.
The broader market saw gains on Wednesday, with the Energy sector rising 0.09%. RIG’s upward movement aligns with this trend, suggesting that the stock is benefiting from overall positive market sentiment.
Transocean recently secured a 1,156-day contract extension for its Deepwater Corcovado rig with Petrobras, which will keep the rig active through November 2030.
The firm is an international provider of offshore contract drilling services for oil and gas wells. This extension is projected to contribute around $445 million …
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