RIG

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RIG secures an $80 million Equatorial Guinea deal, keeping Deepwater Conqueror contracted after its Gulf of Mexico assignment ends.

Here is how Transocean (RIG) and Seadrill (SDRL) have performed compared to their sector so far this year.

Transocean stock jumped by 9% after the company announced a major contract for its Ultra-Deepwater drillship, signaling that its business was seeing substantial traction. RIG soared to $5.94, up by over 22% from its lowest level in July.

Offshore oil names are running while the broad market fades this Tuesday midday. Transocean (NYSE:RIG | RIG Price Prediction) is rising 6.24% to $5.79, W&T Offshore (NYSE:WTI) is rallying 6%, and Valaris (NYSE:VAL) is up 5.83%.

STEINHAUSEN, Switzerland, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that the Deepwater Conqueror was awarded a two-well contract for work in Equatorial Guinea with an undisclosed operator. The estimated 170-day campaign is expected to commence in 2027 in direct continuation of the rig's current contract in the U.S Gulf and contribute approximately $80 million in backlog, excluding additional services and compensation for mobilization and demobilization.

Iran's latest threat against US energy assets in the Gulf sent oil past $91 a barrel, and the money is already rotating into a handful of names before most investors notice the trade is live.

Transocean (RIG) reported earnings 30 days ago. What's next for the stock?

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

RIG benefits from strong contracts, high fleet uptime and a tightening deepwater market, but high debt, interest costs and rising uncommitted fleet exposure pose risks.