Transocean Ltd. (RIG - Free Report) recently secured drilling rig contracts totaling $116 million for two of its harsh-environment semisubmersibles.
First, the Transocean Barents drilling rig was granted a two-well contract in Norway with drilling anticipated to begin in February 2022. The contract will last roughly 200 days and add $60 million to the firm contract backlog.
Also, Transocean Norge was assigned a four-well contract in Norway with five one-well options. The drilling is estimated to start in March 2022. The contract will last nearly 200 days and add $56 million to the firm contract backlog.
Per the Transocean's latest fleet status report, which was issued in April, the Transocean Barents was under contract with MOL in Norway. With a dayrate of $270,000, the contract spans from May this year through December 2021. Besides, the Transocean Norge had a $297,000-per day contract with Equinor (EQNR - Free Report) that will expire this month, according to the same fleet report.
Transocean either owns or has a stake in 37 mobile offshore drilling units comprising 27 ultra-deepwater floaters and 10 harsh-environment floaters, and operates all. The company is also building two ultra-deepwater drillships.
Company Profile
Switzerland-based Transocean is the world’s largest offshore drilling contractor and leading provider of drilling management services. The company provide rigs on a contractual basis to explore and develop oil and gas. Transocean offers offshore drilling rigs, equipment, services and manpower (with particular emphasis on ultra-deepwater and harsh-environment drilling services) to exploration and production companies worldwide.
Zacks Rank & Key Picks
Transocean currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are SilverBow Resources Inc. (SBOW - Free Report) and Oasis Petroleum Inc. , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Transocean Ltd. (RIG - Free Report) recently secured drilling rig contracts totaling $116 million for two of its harsh-environment semisubmersibles.
First, the Transocean Barents drilling rig was granted a two-well contract in Norway with drilling anticipated to begin in February 2022. The contract will last roughly 200 days and add $60 million to the firm contract backlog.
Also, Transocean Norge was assigned a four-well contract in Norway with five one-well options. The drilling is estimated to start in March 2022. The contract will last nearly 200 days and add $56 million to the firm contract backlog.
Per the Transocean's latest fleet status report, which was issued in April, the Transocean Barents was under contract with MOL in Norway. With a dayrate of $270,000, the contract spans from May this year through December 2021. Besides, the Transocean Norge had a $297,000-per day contract with Equinor (EQNR - Free Report) that will expire this month, according to the same fleet report.
Transocean either owns or has a stake in 37 mobile offshore drilling units comprising 27 ultra-deepwater floaters and 10 harsh-environment floaters, and operates all. The company is also building two ultra-deepwater drillships.
Company Profile
Switzerland-based Transocean is the world’s largest offshore drilling contractor and leading provider of drilling management services. The company provide rigs on a contractual basis to explore and develop oil and gas. Transocean offers offshore drilling rigs, equipment, services and manpower (with particular emphasis on ultra-deepwater and harsh-environment drilling services) to exploration and production companies worldwide.
Zacks Rank & Key Picks
Transocean currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are SilverBow Resources Inc. (SBOW - Free Report) and Oasis Petroleum Inc. , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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