Transocean awarded $113M harsh environment contract and extension

Transocean announced contract fixtures for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $113M in firm contract backlog. Transocean Endurance was awarded a multi-well plug and abandonment contract in Australia with an independent operator. The estimated 240-day contract is expected to commence in January 2024 and contribute approximately $91M in backlog, excluding fees for mobilization. The contract also provides for a series of options, potentially keeping the rig in Australia through 4Q25. In Norway, Wintershall DEA exercised a one-well option on Transocean Norge. The well is expected to commence in May ahead of the existing firm term for 60 days and contribute approximately $22M in backlog.