Transocean Secures Rig Contracts and Moves to Acquire JV Stake

An update from Transocean (RIG) is now available.

Transocean Ltd. has secured contracts for three of its high-specification rigs, amassing a combined backlog worth $161 million. These include extensions in Norway for Transocean Spitsbergen and Transocean Norge, with potential additional wells, and an additional well for Transocean Endurance in Australia. Concurrently, Transocean is moving to acquire the remaining stake in a joint venture that owns Transocean Norge, subject to Norwegian regulatory approval, which would consolidate full ownership through a mix of stock and senior notes.

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