Apr. 4 at 12:00 AM
$RIG Transocean noted a significant rise in day rates exceeding
$500,000 to over
$580,000. These rising rates have bolstered revenue, with Q4 2025 average day rates reaching
$461,300, up from
$434,700 a year prior.
Average day rates increased in Q4 to
$461,300 from
$434,700 in the same quarter the previous year.
These higher rates significantly added to Transocean's backlog, which stood at
$6.1 billion as of February 2026, providing high revenue visibility through 2026.
Management expressed optimism about continuing to secure contracts at higher, mid-
$500,000-per-day levels.
Transocean has secured multiple contracts for ultra-deepwater drillships with day rates surpassing
$500,000.
Deepwater Atlas:
$580,000+ in the U.S. Gulf of Mexico.
Transocean Norge: ~
$517,000 in Norway.
Deepwater Asgard: ~
$505,000-
$515,000.
Rise in rates is largely driven by limited supply of available high-specification drillships, allowing Transocean to see improved profitability.
