(GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that as the offshore drilling market continues to improve, the company is observing an increase in contract opportunities for its ultra-deepwater and harsh environment drilling services.
“Customer demand for the highest specification ultra-deepwater floaters now equals or exceeds the number of marketable rigs currently available in many areas,” said Transocean President and Chief Executive Officer Jeremy Thigpen. “As a result, new contracts more consistently reflect materially increased dayrates, which will generate significantly improved cash flow.”
Since its last Fleet Status Report issued in October 2019, the company has secured an additional $352.9 million of contract backlog from new contracts and extensions to existing contracts,
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.
Transocean owns or has partial ownership interests in, and operates a fleet of 45 mobile offshore drilling units consisting of 28 ultra-deepwater floaters, 14 harsh environment floaters and three midwater floaters. In addition, Transocean is constructing two ultra-deepwater drillships.