Transocean explores debt financing for drilling contract, Liquila buy

Chicago, Sept. 14 – Transocean Inc. said that it will be exploring “various debt financing alternatives” to partially fund the costs associated with acquiring a rig and preparing for its contract in Brazil, according to a press release.

Transocean announced a three-year award for the newbuild ultra-deepwater drillship Deepwater Aquila with a national oil company for work offshore Brazil.

The contract is expected to start in the third quarter of 2024 and represents about $486 million in firm backlog.

Transocean has also agreed to acquire the outstanding interests in Liquila Ventures Ltd., a company formed to acquire the Deepwater Aquila, from its joint venture partners, Perestroika and Lime Rock Partners.

The rig is expected to be delivered from the shipyard in October.

Transocean is a Switzerland-based offshore drilling contractor.

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