Transocean Ltd’s Deepwater Thalassa Starts Mexico Trion Job as Valaris Deal Looms
Woodside Energy has begun drilling at the Trion project in the Gulf of Mexico using Transocean's Deepwater Thalassa, with the rig contracted at $480,000 per day through March 2029. Transocean, pursuing a $5.8 billion all-stock merger with Valaris, reported $6.1 billion in backlog and $5.686 billion in debt. Transocean shares rose to $6.17 in New York. The Valaris deal faces regulatory and shareholder approval.