Transocean Ltd. said the Deepwater Conqueror secured a two-well contract with an undisclosed operator for work in Equatorial Guinea. The approximately 170-day campaign is expected to begin in 2027 immediately after the rig’s current U.S. Gulf of America drilling program and contribute about $80 million to backlog, excluding mobilization, demobilization and ancillary services. The direct transition is intended to maintain continuous utilization of the ultra-deepwater drillship and expand Transocean’s international operating exposure. Transocean shares were up 7.61% at $5.87 Tuesday afternoon, according to Benzinga Pro data. The company operates 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment floaters. Transocean has cautioned that its forward-looking statements depend on management assumptions and face risks including offshore exploration activity, oil and gas prices, operating delays, international operations, rig scrapping and the proposed business combination with Valaris Limited.