Transocean Ltd. (NYSE: RIG) announced contract awards totaling approximately $550 million for two of its ultra-deepwater drillships operating in the U.S. Gulf, according to a press release dated Oct. 19, 2026.

The Deepwater Proteus received a ten-well contract with an undisclosed operator. The estimated 700-day campaign is expected to contribute approximately $325 million to the company's backlog and is set to begin in the first quarter of 2027, continuing directly from the rig's current U.S. Gulf contract.

The Deepwater Conqueror was awarded a five-well contract, also with an undisclosed operator. The estimated 450-day program is expected to add approximately $225 million in backlog, excluding mobilization fees. Work is scheduled to commence in the third quarter of 2027, in direct continuation of the rig's existing program in Equatorial Guinea.

Transocean operates a fleet of 27 mobile offshore drilling units, consisting of 20 ultra-deepwater floaters and seven harsh environment floaters.