STAVANGER (dpa-AFX) - Offshore driller Transocean Ltd. (RIG), announced on Friday that its contract backlog has increased to about $1.1 billion following a new award and final approval of a previously announced agreement with Equinor.
Transocean said its rig Transocean Norge was awarded a two-well contract with A/S Norske Shell, expected to last about 120 days and add $62 million to backlog, excluding additional services. The deal also includes a single-well option.
The company added that Equinor ASA (EQNR) has formally approved its agreement for three harsh-environment semisubmersible rigs in Norway - Transocean Enabler, Transocean Encourage, and Transocean Endurance - converting the $1.0 billion contract value into firm backlog.
In pre-market activity on the NYSE, shares of Transocean were up 0.27 percent, changing hands at $5.55, after closing Thursday's regular session 2.78 percent higher.
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