Transocean Ltd. announced the award of two new contracts for ultra-deepwater drillships operating in the U.S. Gulf of Mexico. According to a Form 8-K filed on October 19, 2026, the total value of the new contracts is approximately $550 million in firm contract backlog.
The first contract was awarded to the Deepwater Proteus. The rig secured a ten-well contract with an undisclosed operator. The estimated duration of the campaign is 700 days, which is expected to contribute approximately $325 million to the company's backlog. Operations are scheduled to commence in the first quarter of 2027, directly following the conclusion of the rig's current U.S. Gulf contract.
The second contract was awarded to the Deepwater Conqueror. This vessel secured a five-well contract with an undisclosed operator in the U.S. Gulf. The estimated duration of work is 450 days, which is expected to contribute approximately $225 million in backlog, excluding mobilization fees. The rig is scheduled to begin operations in the third quarter of 2027, continuing from its current program in Equatorial Guinea.
The company noted that a copy of the press release detailing these fixtures is attached to the filing as Exhibit 99.1.
