Transocean Ltd. 8-K

What Happened Transocean Ltd. filed a Form 8-K on January 5, 2026, reporting a contract award and an extension for two of its offshore drilling rigs that together add about $168 million of firm backlog. The Deepwater Mykonos was awarded an estimated 302‑day campaign with bp in Brazil, expected to start in Q3 2026 and contribute roughly $120 million of backlog (excluding additional services and mobilization/demobilization compensation). In Norway, three one‑well options were exercised for the Transocean Enabler, adding about 105 days of work and approximately $48 million of backlog, which commits the rig through September 2027.

Key Details

• Total firm backlog from the two fixtures: approximately $168 million.
• Deepwater Mykonos: ~302‑day campaign in Brazil with bp, estimated ~$120 million of backlog; expected to begin Q3 2026; excludes add‑ons and mobilization/demobilization compensation.
• Transocean Enabler: three one‑well options exercised adding ~105 days and ~$48 million of backlog; extends commitments through September 2027.
• Disclosure filed under Item 7.01 (Regulation FD Disclosure); press release attached as Exhibit 99.1.

Why It Matters These awards increase Transocean’s near‑term contracted revenue (firm backlog) and extend utilization for two deepwater rigs, which can help revenue visibility and cash flow predictability. For investors, the deals show continued demand for deepwater drilling services in Brazil and Norway and add concrete, dollar‑value commitments to the company’s backlog without changing reported financials in this filing.