Transocean (RIG) Jumps Following Announcement of New Conctracts

The share price of Transocean Ltd. (NYSE:RIG) surged by 13.37% between November 21 and November 28, 2025, putting it among the Energy Stocks that Gained the Most This Week.

Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells.

On November 18, Transocean Ltd. (NYSE:RIG) announced new contracts for its ultra-deepwater drillship and harsh-environment semisubmersible rigs, collectively representing approximately $89 million in firm contract backlog. The contracts span the company’s operations in Brazil, Romania, and Norway, and will add to its $6.7 billion backlog as of October 2025.

Investors have also been encouraged by the news of bullish insider activity at Transocean Ltd. (NYSE:RIG), with the company disclosing that its director, Frederik Mohn, acquired 1.5 million shares of its common stock on November 24, valuing the transaction at just over $6 million.

Following the recent uptick, Transocean Ltd.’s (NYSE:RIG) share price has jumped 13.37% since the beginning of 2025.

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Disclosure: None.