Transocean (RIG) announced that the Deepwater Asgard was awarded a five-well contract in the Eastern Mediterranean Sea with an undisclosed operator. The estimated 390-day campaign is expected to commence in Q4 and contribute approximately $158M in backlog, excluding additional services and compensation for mobilization and demobilization. Inclusive of the recently announced fixtures on the Transocean Barents in Norway, and the Deepwater Orion, Deepwater Aquila, and Deepwater Corcovado in Brazil, total backlog additions approximate $1.6B since the beginning of April.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIG:
- Transocean price target raised to $7 from $5 at Morgan Stanley
- Transocean Secures Major Petrobras Ultra-Deepwater Contract Extension
- Transocean price target raised to $8 from $7.50 at Susquehanna
- Midday Fly By: Amazon said to eye Globalstar, Tesla deliveries miss consensus
- Transocean Adds $1 Billion to Backlog with New Contracts