Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced contract awards for two of its ultra-deepwater drillships in the U.S. Gulf. In aggregate, the fixtures represent approximately $550 million in firm contract backlog.

The Deepwater Proteus was awarded a ten-well contract with an undisclosed operator in the U.S. Gulf. The estimated 700-day campaign is expected to contribute approximately $325 million in backlog and commence in the first quarter of 2027 in direct continuation of the rig’s current U.S. Gulf contract.

The Deepwater Conqueror was awarded a five-well contract with an undisclosed operator in the U.S. Gulf. The estimated 450 days of work is expected to contribute approximately $225 million in backlog, excluding mobilization fees, and commence in the third quarter of 2027 in direct continuation of the rig’s program in Equatorial Guinea.