Transocean (NYSE: RIG) has unveiled a pair of UK North Sea contract wins as part of a clutch of global awards worth $488m.
Harbour Energy has exercised an option on its contract for the Paul B Loyd Jr semi-sub rig for eight wells, worth around $48m.
The deal is expected to last 275 days, taking the contract into 2024.
Meanwhile the Transocean Barents semi-sub has been awarded a new one-well contract with “a major operator” in the UK North Sea for an estimated $34m.
The 110-day deal is expected to begin in Q1 2023.
Those deals are among five awards announced today by New York-listed Transocean, as part of a growing recovery in the drilling market.
The Deepwater Invictus drillship has won a $43m, three-well contract in the US Gulf of Mexico with an independent operator, estimated to last 100 days.
In Norway, the Transocean Norge has added to its backlog a $331m contract under options exercised by Wintershall DEA and OMV, expected to last 773 days.
Lastly, TotalEnergies has exercised a one-well option on its contract with semi-sub Development Driller III offshore Suriname.
The well is expected to last 90 days and deliver $32m in backlog.
Last week Transocean took delivery of eighth generation drillship Deepwater Titan from Sembcorp Marine.
Headed to the Gulf of Mexico for Chevron, it will command a dayrate of $455,000
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