Transocean Ltd. filed a Form 8-K on September 15, 2026, disclosing that its ultra-deepwater drillship Deepwater Conqueror was awarded a two-well contract for work in Equatorial Guinea with an undisclosed operator.

Key Highlights

  • Contract award: The Deepwater Conqueror received a two-well contract for operations in Equatorial Guinea.
  • Backlog contribution: The contract is expected to contribute approximately $80 million in backlog, excluding additional services and compensation for mobilization and demobilization.
  • Campaign duration: The estimated campaign length is 170 days.
  • Commencement timing: The campaign is expected to begin in 2027, in direct continuation of the rig's current contract in the U.S. Gulf.
  • Operator identity: The contracting operator was not disclosed in the filing.

Deepwater Conqueror Secures Two-Well Equatorial Guinea Campaign Starting 2027

According to the Form 8-K filed under Item 7.01 (Regulation FD Disclosure), Transocean Ltd. (NYSE:RIG) announced that the Deepwater Conqueror was awarded a two-well drilling contract for work in Equatorial Guinea. The operator was not identified in the filing. The contract is structured as an estimated 170-day campaign and is expected to commence in 2027.

The filing states that the new contract will begin "in direct continuation of the rig's current contract in the U.S. Gulf," providing back-to-back deployment for the vessel. Transocean disclosed that the award is expected to contribute approximately $80 million in backlog. The company noted this figure excludes "additional services and compensation for mobilization and demobilization," meaning the total contract value could differ from the backlog figure cited.

The filing was signed by Debra Kupferman, Authorized Person, on behalf of Transocean Ltd., which is incorporated in Switzerland and headquartered in Steinhausen, Switzerland. A press release announcing the fixture was attached as Exhibit 99.1 and incorporated by reference into the filing.

What Was Disclosed

Transocean disclosed a new two-well drillship contract in Equatorial Guinea with an undisclosed operator, an estimated 170-day duration, a 2027 expected start date following its current U.S. Gulf contract, and an approximate $80 million backlog contribution.