05:27 PM EDT, 09/10/2024 (MT Newswires) -- Transocean ( RIG ) said late Tuesday it signed a drillship contract for the Deepwater Atlas with BP (BP) in the US Gulf of Mexico.

The contract has a term of 365 days and also provides for a 365-day option, the company said.

The program is expected to begin in Q2 2028 and contribute about $232 million in backlog, excluding a mobilization fee, Transocean ( RIG ) said.

Shares of Transocean ( RIG ) were up nearly 4% in after-hours activity.

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