(VIANEWS) – Transocean, Inc (RIG), a leading provider of offshore contract drilling services, has secured a significant contract for a high-specification seventh-generation, ultra-deepwater drillship. The contract is for 1,080 days and will be conducted in the Gulf of Mexico offshore Mexico. This deal is expected to contribute approximately million to Transocean’s backlog, excluding revenues for mobilization and demobilization.
According to Zacks, Transocean will have the option to select one of three drillships – Deepwater Invictus, Deepwater Thalassa, or Deepwater Proteus. The final selection will be made no later than one year before the commencement window.
This contract is a positive development for Transocean, as it reinforces its presence in the Gulf of Mexico and highlights its ability to secure long-term contracts for its high-specification drillships. It also adds to the company’s backlog, providing revenue visibility in the coming years.
Investors and analysts will be closely monitoring Transocean’s ability to execute on this contract and its overall performance in the offshore drilling sector.
Shares of Transocean (NYSE: RIG) jumped by a staggering 34.72% in 21 sessions from $5.99 at 2023-06-23, to $8.07 at 14:28 EST on Friday, after two consecutive sessions in a row of losses. NYSE is jumping 0.35% to $16,321.29, after four consecutive sessions in a row of gains.
Transocean’s last close was $8.19, 2.5% below its 52-week high of $8.40.
About Transocean
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It serves integrated energy companies, government-owned or government-controlled energy companies, and other independent energy companies. Transocean Ltd. was founded in 1926 and is based in Steinhausen, Switzerland.
Earnings Per Share
As for profitability, Transocean has a trailing twelve months EPS of $-1.23.
The company’s return on equity, which measures the profitability of a business relative to shareholder’s equity, for the twelve trailing months is negative -8.49%.
Volatility
Transocean’s last week, last month’s, and last quarter’s current intraday variation average was 1.89%, 1.44%, and 2.83%.
Transocean’s highest amplitude of average volatility was 3.67% (last week), 3.27% (last month), and 2.83% (last quarter).
Revenue Growth
Year-on-year quarterly revenue growth grew by 10.8%, now sitting on 2.64B for the twelve trailing months.
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