Transocean’s backlog continued to drift lower even as dayrates for floaters start to recover. The company’s new floater contracts averaged $240,000/day since late October, which CEO Jeremy Thigpen said is a 75% increase YOY. However, adjusted contract revenue for 2020 is forecast to be to around $3.3 billion, flat from 2019’s $3.28 billion. Backlog declined to $10.2 billion in its February fleet status report, down from $10.8 billion in its previous report released in......
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