Transocean Secures $550M in US Gulf Drillship Deals

Deepwater Conqueror drillship (Credit: Transocean)

Offshore drilling contractor Transocean has secured contracts worth approximately $550 million for two ultra-deepwater drillships in the U.S. Gulf, covering a combined 15 wells and adding to the company's firm contract backlog.

The contracts involve the Deepwater Proteus and Deepwater Conqueror drillships, both awarded work by undisclosed operators, Transocean said in an October 19 announcement.

The Deepwater Proteus secured a 10-well contract valued at approximately $325 million in backlog. The drilling campaign is expected to last around 700 days, starting in the first quarter of 2027 in direct continuation of the rig's existing U.S. Gulf contract.

The Deepwater Conqueror was awarded a five-well contract expected to contribute approximately $225 million in backlog, excluding mobilization fees.

The campaign is estimated to last 450 days and is scheduled to begin in the third quarter of 2027, directly following the drillship's existing program in Equatorial Guinea.

Built in 2015, the Deepwater Proteus can operate in water depths of up to 10,000 feet (3,048 meters) and drill to a maximum depth of 40,000 feet (12,192 meters). The Deepwater Conqueror, built in 2016, has the same maximum operating water depth and drilling depth capabilities.