Transocean's Deepwater Conqueror lands two-well contract in Equatorial Guinea
The 170-day campaign is set to begin in 2027 and adds about $80 million to Transocean's backlog
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Chart: RIG, one-minute prices, three sessions
Transocean says its Deepwater Conqueror drillship has won a two-well contract in Equatorial Guinea with an operator it has not named. The work is expected to run about 170 days and start in 2027, picking up directly after the rig finishes its current contract in the U.S. Gulf of Mexico.
The company says the contract will add about $80 million to its backlog. That figure does not include extra services or payments for moving the rig to and from the site.
The deal keeps the Deepwater Conqueror under contract well into 2027, extending the use of an existing rig rather than adding a new one to the fleet. For Transocean, locking in work that far ahead reduces the risk of the rig sitting idle between jobs, and the $80 million figure gives investors a marker for what dayrates on this kind of deepwater work are currently fetching.