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Transocean Reports YOY Dip in Q2 Drilling Revenues

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Transocean (RIG), the Switzerland-based offshore contract drilling services provider for oil and gas wells, on Wednesday reported Q2 drilling revenues of $966 million, down from $988 million in the corresponding quarter last year.

During the quarter ended June 30, the company said it added five new fixtures, increasing contract backlog by about $292 million at a weighted average dayrate of about $461,000.

Transocean reported total backlog of about $6.7 billion as of Aug.5, not including the $1 billion of backlog for work with Equinor, whose inclusion in contingent upon receipt of approvals from license partners.

The company forecast contract drilling revenues of $920 million-$960 million for Q3 and $3.9 billion- $3.98 billion for full year 2026.

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