Global and Regional MarketsNewsThe Offshore Frontier

Transocean nets pair of Gulf of Mexico contracts for ultradeepwater drillship

Transocean’s ultradeepwater drillship, Deepwater Asgard, received two contract awards in the US Gulf of Mexico for a total of approximately 14 months of work, adding $181 million in firm backlog.

The first award is a one-well contract with Murphy Oil Corporation at $395,000/day. The contract is expected to commence late this fall after the rig completes its current contract and a planned out-of-service period. The contract also includes an option for a second well at the same dayrate. The backlog for the firm contract is approximately $20 million.

The second award, a one-year contract with another operator at $440,000/day (plus up to $40,000 per day for additional products and services), is expected to commence in the first half of 2023. This contract also includes three, one-year option periods at mutually agreed dayrates. The firm backlog associated with the contract is estimated to be approximately $161 million, excluding any revenue associated with the additional products and services.

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