$830 million contract
Offshore drilling contractor Transocean Ltd. (stock ticker: RIG) has two opportunities in development with Chevron (stock ticker: CVX).

Most recently, Transocean signed a rig design and construction management contract with Chevron USA, as well as a 5-year drilling contract. The contracts relate to one of Transocean’s two drillships under construction at the Jurong shipyard in Singapore, both of which use hybrid-power systems and reach a water depth of 12,000 ft.

“We are proud to be delivering the industry’s first rig capable of drilling and completing wells requiring subsea equipment rated to 20,000 psi,” said Transocean President and CEO Jeremy Thigpen. The ultra-deepwater floater is expected to commence opera...

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