(Source: Shutterstock)
Transocean Ltd. received $161 million in contract fixtures for three of its harsh environment semisubmersibles, the company announced June 4.
The Transocean Spitsbergen, located in Norway, was awarded a three-well contract extension with Equinor. The program, which could contribute approximately $72 million in backlog, is expected to begin in the fourth quarter of 2025 in direct continuation of the rig’s current program.
The extension includes options for up to six additional wells.
Transocean Norge was awarded a three-well contract extension by Wintershall Dea. The estimated 140-day program is set to begin in the first quarter of 2028 in direct continuation of the rig’s current program and contribute approximately $71 million in backlog.
In Australia, Woodside exercised its second option for the Transocean Endurance. The 45-day well will contribute $18 million in backlog and will begin in direct continuation of the rig’s current program.
“These fixtures are emblematic of the continued strength of the high-specification harsh environment market,” said Jeremy Thigpen, Transocean’s CEO. “Our customers are contracting rigs up to four years in advance, reinforcing our confidence in the strength and longevity of this upcycle.”
Recommended Reading
Freeport LNG’s Texas Plant Back in Production Post Winter Disruption
2025-01-27 - Winter Storm Enzo knocked out the Quintana Island plant’s electrical supply on Jan. 21.
Commercial Operations at Calcasieu Pass LNG to Begin in April
2025-02-18 - Venture Global started selling LNG at the plant in 2022, angering its long-term customers.
EIA: NatGas Storage Withdrawal Misses Forecasts by 20 Nearly Bcf
2025-01-23 - Natural gas prices fell following the release of the U.S. Energy Information Administration’s weekly storage report showing a near-20 Bcf miss on analysts’ expectations.
EIA Reports Smaller than Expected NatGas Withdrawal-Analysts
2025-03-06 - A mild end to February shows a surprising demand decrease for natural gas, according to analysts citing U.S. Energy Information Administration data.
USGS: 47 MMbbl of Oil, 876 Bcf of Gas in Conventional Rockies’ Basins
2025-03-13 - The U.S. Geological Survey surveyed areas where potential hydrocarbons in as yet undiscovered oil and gas formations in the Wind River, Bighorn and Powder River basins.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.