Transocean has secured new contracts and extensions for its drilling rigs. Credit: wasi1370 on Pixabay.

Offshore drilling contractor Transocean has secured $352.9m in new rig contracts and extensions, increasing opportunities for its ultra-deepwater and harsh environment drilling services.

The new awards represent a sign of ongoing improvement of the company in the offshore drilling market.

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Rigzone reported that these contracts form two thirds of additional backlog since last October.

Transocean president and CEO Jeremy Thigpen said: “Customer demand for the highest specification ultra-deepwater floaters now equals or exceeds the number of marketable rigs currently available in many areas.

“As a result, new contracts more consistently reflect materially increased day rates, which will generate significantly improved cash flow.”

ConocoPhillips has awarded a 125-day contract to the harsh-environment semisubmersible Leiv Eiriksson in offshore Norway. The day rate of the semisub is valued at $235,000.

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Talos Energy has awarded the ultra-deepwater drillship Discoverer Inspiration in the US Gulf of Mexico. The contract is valid for 120 days and the day rate of the rig is $210,000.

Beacon has awarded a 200-day contract for the ultra-deepwater drillship Deepwater Asgard in the US Gulf of Mexico. It has also exercised a 74-day option for the drillship at a rate of $240,000 per day.

Ultra-deepwater semisub Development Driller III has received a one-year contract from an undisclosed client in offshore Trinidad for $250,000 per day.

Australian natural gas producer Woodside has awarded a 180-day contract for the ultra-deepwater drilling rig Dhirubhai Deepwater KG2 offshore Myanmar. The day rate is $250,000.

BHP has exercised a one-year option for the ultra-deepwater rig Deepwater Invictus in the US Gulf of Mexico. The day rate is $155,000.

Equinor has exercised two 32-day options for the harsh-environment semisub Transocean Norge offshore Norway at day-rate of $291,000.

Petronas has awarded a 180-day contract for the ultra-deepwater semisub Deepwater Nautilus offshore Malaysia at a day rate of $140,000.