Transocean Ltd (Transocean) announced that the ultra-deepwater drillship, Deepwater Conqueror, has been awarded a two-year contract by a major operator for work in the U.S. Gulf of Mexico at $440,000 per day with up to an incremental $39,000 per day for additional products and services.

Excluding revenue associated with the additional products and services, the new contract adds an estimated $321 million in backlog and is expected to begin in December 2022 in direct continuation of the rig’s current contract.

About Transocean

Transocean (NYSE: RIG) is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in, and operates a fleet of 37 mobile offshore drilling units, consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.