Investment Surge in Offshore Drilling Stocks…Market Cap Increases by 540 Billion Won in One Day
By ATTN Desk · Editorial oversight: Sean Han
Transocean Limited (NYSE: RIG) recently closed trading on the New York Stock Exchange at $5.71, up 5.94%, as trading volume surged to 98.74 million shares. Its market capitalization stands at about $6.289 billion (approximately ₩8.5 trillion), having gained $397 million (around ₩540 billion) in a single day.
Earlier this month, the company added roughly $168 million (₩230 billion) to its backlog through new contracts and extensions for two drillships in Brazil and Norway. On the 9th, it announced a major offshore drilling merger plan to acquire rival Valaris for about $5.8 billion (around ₩7.8 trillion). (globenewswire.com)
Transocean is a leading global offshore drilling contractor with a fleet of high-specification rigs specialized for ultra-deepwater and harsh environments. With a substantial backlog anchored by long-term contracts, it is regarded as a key beneficiary of the recovering subsea exploration and development cycle. (globenewswire.com)