Transocean's (RIG) Transocean Barents Floater Nabs 15-Month Contract

October 3, 2016 6:54 AM EDT

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Transocean Ltd. (NYSE: RIG) announced that the Transocean Barents, a harsh-environment, ultra-deepwater floater, has been awarded a 15-month contract with Suncor Energy at a dayrate of $260,000. The estimated contract backlog, excluding mobilization, is $119 million. The rig is expected to commence operations offshore Canada in the third quarter of 2017.

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