Transocean Secures Diverse Contracts and Optimizes Fleet for Future Growth

Transocean delivered impressive results in the third quarter of 2024, moving into a promising future with a strategic focus on fleet utilization and long-term contracts. With an adjusted EBITDA of $342 million and contract drilling revenues of $948 million, the company achieved an impressive EBITDA margin of 36%. This underscores the dynamic activity of the marketing team, which continuously secures new contracts and extensions. In the USA, BP awarded the Deepwater Atlas a one-year contract for the Gulf of Mexico at a day rate of $635,000. The Deepwater Invictus and Deepwater Conqueror also received important contract extensions and have been secured for the coming years. In India and Norway, significant contracts were concluded with Reliance Industries and Equinor, securing future growth and fleet utilization. Transocean remains a leader in the sector through its highly specialized fleet and continuous efforts towards operational excellence. The high location specifications and technologies of Transocean drillships demonstrate the strategic potential and preference of customers seeking stable and value-generating services. The company is optimistic about market development and confirms a successful transition into a strong market phase until 2026, supported by secured contracts and increasing capital investment in the deepwater and ultra-deepwater areas.