Transocean Ltd. (NYSE:RIG) announced Tuesday that its ultra-deepwater drillship Deepwater Invictus has been awarded a two-year contract with options by a subsidiary of BHP Billiton.
Transocean said the backlog associated with the firm contract is approximately $106 million and the contract will commence in the second quarter of 2018. It includes three one-year priced options.
The Deepwater Invictus was delivered in 2014 and is rated to a water depth of 12,000 feet. It has spent nearly its entire career contracted to BHP.