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Transocean Awarded $161 Million in Contract Extensions, Exercised Options; Shares Fall
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Transocean Awarded $161 Million in Contract Extensions, Exercised Options; Shares Fall
Jun 4, 2024 7:49 AM

10:18 AM EDT, 06/04/2024 (MT Newswires) -- Transocean ( RIG ) said Tuesday it has been awarded contract extensions for three harsh environment semisubmersibles, totaling around $161 million in contract backlog.

In Norway, Equinor awarded a three-well contract extension to Transocean Spitsbergen, contributing around $72 million in the backlog. Transocean Norge secured a similar extension with Wintershall Dea, adding around $71 million in backlog.

Additionally, Woodside exercised its second option for the Transocean Endurance in Australia, contributing around $18 million in backlog.

Shares of the company fell 4.7% in early Tuesday trading.

Price: 5.45, Change: -0.26, Percent Change: -4.57

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