Transocean said work booked for 2027 accounts for almost 95% of its active fleet calendar, giving the offshore driller visibility as it prepares to acquire Valaris, with the deal expected to close Dec. 1.
Keelan Adamson, Transocean’s president and CEO, said on the Nov. 3 earnings call that about 65% of the company’s 2028 schedule is covered. He also said the fleet had work secured for nearly all of the remaining 2026 schedule.
The company’s third-quarter results release said all required regulatory approvals had been received. It identified $200 million in annual synergies and said Transocean is focused on integration planning and capturing them.
Transocean said new awards helped improve 2027 coverage and lifted its backlog to about $8 billion. The planned acquisition is valued at $5.8 billion and has received Brazilian antitrust clearance.
