Welcome to our dedicated page for Transocean news (Ticker: RIG), a resource for investors and traders seeking the latest updates and insights on Transocean stock.
Transocean Ltd. reports developments in offshore contract drilling services for oil and gas wells. The company operates in technically demanding offshore markets, with a focus on ultra-deepwater drilling and harsh-environment semisubmersible operations. Its updates commonly address drillship and semisubmersible contracts, customer options, fleet status reports, operating uptime, dayrate trends, and contract backlog across regions such as Brazil, Norway and Australia.
Recurring news for Transocean also covers quarterly and annual financial results, cash flow, liquidity, debt retirement and other capital-structure actions tied to its offshore rig fleet and long-term drilling contracts.
Gulfport Energy (NYSE: GPOR) appointed Domenic J. Dell’Osso, Jr. as President and Chief Executive Officer, effective May 28, 2026. The board cited his 20+ years of energy experience and track record leading companies through transformation. Mr. Dell’Osso previously served as CEO of Expand Energy (NASDAQ: EXE).
Transocean (NYSE: RIG) reported Q1 2026 results: contract drilling revenues $1.08 billion, revenue efficiency 97.3% and net income $71 million ($0.06 diluted/share). Adjusted EBITDA was $440 million with a margin of ~40.7% and Free Cash Flow $136 million. The company retired $358 million of Deepwater Titan notes, ending the period with $1.125 billion total liquidity. It added ~$1.6 billion of backlog, bringing total backlog to approximately $7.1 billion. Guidance: Q2 2026 revenue $930–970 million; FY26 revenue $3.8–3.9 billion.
Transocean (NYSE: RIG) issued a quarterly Fleet Status Report dated May 4, 2026, detailing recent contract fixtures and fleet contract status.
Key updates: a 1,095-day contract for Transocean Barents with Vår Energi, multiple extensions with Petrobras totaling three multi-year fixtures and one one-year extension, a five-well contract for Deepwater Asgard, an aggregate incremental backlog of approximately $1.6 billion, and a total backlog of about $7.1 billion.
Transocean (NYSE: RIG) announced a five-well contract for the ultra-deepwater drillship Deepwater Asgard in the Eastern Mediterranean, adding approximately $158 million of backlog. The estimated 390-day campaign is expected to begin in Q4 2026, with backlog additions of about $1.6 billion since early April when including other fixtures.
The award excludes additional services and mobilization/demobilization compensation; the operator was not disclosed.
Transocean (NYSE: RIG) said the ultra-deepwater drillship Deepwater Corcovado received a 1,156-day contract extension with Petrobras, adding roughly $445 million of incremental backlog and committing the rig through November 2030.
The company also said existing backlog will be reduced by about $20 million from April 1, 2026 until the new contract begins in September 2027 (approximately 525 days).
Transocean (NYSE: RIG) announced contract awards and debt retirement totaling about $1.0 billion in incremental firm backlog and a senior notes payoff. Key awards include the Transocean Barents 1,095-day Norway contract (~$490M backlog) and extensions for Deepwater Orion (~$420M) and Deepwater Aquila (~$160M).
The company retired the $358M 8.375% senior secured Titan Notes on March 20, 2026, saving ~$39M interest to maturity and expects to retire $0.75B of debt in 2026.
Transocean (NYSE: RIG) reported 2025 results with contract drilling revenues of $3.965 billion (up 13%) and Adjusted EBITDA of $1.37 billion (up 19%). The company recorded a net loss of $2.915 billion ($3.04/diluted share) driven by impairment charges, reduced total debt to $5.686 billion and reported total backlog of about $6.1 billion as of Feb 19, 2026.
The firm reported free cash flow of $626 million, cash from operations of $749 million, added $839 million of contract backlog at a $453,000 weighted dayrate, and provided 1Q26 and FY26 guidance ranges.
Transocean (NYSE: RIG) released a quarterly Fleet Status Report detailing 10 new fixtures across its offshore rig fleet, including multi-well contracts and exercised options in Romania, Brazil, Australia and Norway.
The incremental backlog from these fixtures is approximately $610 million, bringing total backlog to about $6.1 billion as of Feb 19, 2026.
Transocean (NYSE: RIG) announced firm contract fixtures for two harsh-environment semisubmersibles in Norway totaling approximately $184 million in backlog. Transocean Encourage received a seven-well extension (~365 days; ~$152 million backlog) starting Q1 2027 in direct continuation of current work. Transocean Enabler had two one-well options exercised (~70 days; ~$32 million backlog), committing the rig through December 2027. Backlog figures exclude additional services.
Transocean (NYSE: RIG) will acquire Valaris in an all-stock transaction valued at approximately $5.8 billion, creating a combined company with a pro forma enterprise value of ~$17 billion and an estimated pro forma market capitalization of $12.3 billion.
The combined fleet will total 73 rigs and an industry-leading backlog of ~$10 billion. The deal implies Transocean shareholders will own ~53% and Valaris shareholders ~47% of the combined company. The transaction targets >$200 million of identified synergies and aims to close in H2 2026, subject to approvals.