Transocean Secures New Drilling Contract with Equinor in Norwegian Sea, Commencing July
Equinor operates this license with a 40.95% stake, alongside partners Var Energi, Petoro, and TotalEnergies EP Norge. The drilling activities for this wildcat well are anticipated to commence this July, using Transocean's Transocean Encourage rig.
An aerial view of an oil rig with drillers in hard hats working on the platform.
In 2023, Transocean secured a 9-well contract for the Transocean Encourage for drilling activities on the Norwegian Continental Shelf/NCS. This contract also includes a provision for drilling 6 optional wells.
Transocean Ltd. (NYSE:RIG) provides offshore contract drilling services for oil & gas wells in Switzerland and internationally.
Equinor ASA (NYSE:EQNR) is an energy company that explores, produces, transports, refines, and markets petroleum and other forms of energy in Norway and internationally.
While we acknowledge the potential of RIG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the .
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Disclosure: None. This article is originally published at Insider Monkey.
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