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Transocean ( (RIG) ) has issued an announcement.
Transocean Ltd. has secured a six-well contract in Australia for its Deepwater Skyros drillship, expected to start in the first quarter of 2027. This contract will add approximately $130 million to the company’s backlog and includes options that could extend operations into early 2030, indicating a strong future presence in the Australian market.
The most recent analyst rating on (RIG) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Transocean stock, see the RIG Stock Forecast page.
Spark’s Take on RIG Stock
According to Spark, TipRanks’ AI Analyst, RIG is a Neutral.
Transocean’s overall stock score is primarily influenced by its financial challenges and valuation concerns, despite positive technical indicators and recent corporate developments. The company’s efforts in debt reduction and securing new contracts are promising, but profitability remains a key issue.
To see Spark’s full report on RIG stock, click here.
More about Transocean
Transocean Ltd. operates in the offshore drilling industry, providing services primarily focused on deepwater and ultra-deepwater drilling. The company is known for its fleet of mobile offshore drilling units, serving major oil and gas companies worldwide.
Average Trading Volume: 48,231,934
Technical Sentiment Signal: Hold
Current Market Cap: $4.89B
See more data about RIG stock on TipRanks’ Stock Analysis page.