Eddie Kim

Arun Jayaram

Fredrik Stene

Gregory Lewis

Kurt Hallead

Noel Parks

David Smith

Douglas Becker

Josh Jayne

Scott Gruber

- Transocean International Limited, a wholly-owned subsidiary of Transocean Ltd., increased its cash tender offer for outstanding notes from **$50 million to $100 million**.  **[1451505_0001451505-25-000113_rig-20251015xex99d1.htm:0]** 
- As of the Early Tender Date on **October 14, 2025**, **$88,998,000** aggregate principal amount of 7.35% Senior Notes due December 2041 and **$120,628,000** aggregate principal amount of 7.00% Notes due June 2028 were validly tendered.  **[1451505_0001451505-25-000113_rig-20251015xex99d1.htm:0]** 
- All validly tendered 2041 Notes were accepted for payment.  **[1451505_0001451505-25-000113_rig-20251015xex99d1.htm:0]** 
- The company will accept validly tendered 2028 Notes on a pro rata basis, resulting in an approximate **13.17%** proration factor.  **[1451505_0001451505-25-000113_rig-20251015xex99d1.htm:0]** 
- The settlement date for the accepted notes is **October 16, 2025**.  **[1451505_0001451505-25-000113_rig-20251015xex99d1.htm:0]**

Transocean Ltd. Upsizes Cash Tender Offer and Reports Early Results

- **Transocean Ltd.** published its **Fleet Status Report dated October 15, 2025**, detailing the status and contract information for its drilling rigs.  **[1451505_0001451505-25-000111_rig-20251015x8k.htm:1]** **[1451505_0001451505-25-000111_rig-20251015x8k.htm:2]** 
- The report includes estimated average contract dayrates for its **20 Ultra-Deepwater Drillships**, which are **$458,000** for Q4 2025, **$463,000** for Q1 2026, **$466,000** for Q2 2026, and **$468,000** for Q3 2026.  **[1451505_0001451505-25-000111_rig-20251015xex99d1.htm:0]** 
- For its **7 Harsh Environment Semisubmersibles**, the estimated average contract dayrates are **$424,000** for Q4 2025, **$436,000** for Q1 2026, **$442,000** for Q2 2026, and **$443,000** for Q3 2026.  **[1451505_0001451505-25-000111_rig-20251015xex99d1.htm:1]**

Transocean Ltd. Publishes Updated Fleet Status Report

- Transocean Ltd. announced contract fixtures for two of its ultra-deepwater drillships, representing approximately **$243 million** in firm contract backlog.  **[1451505_0001451505-25-000108_rig-20251001x8k.htm:1]** **[1451505_0001451505-25-000108_rig-20251001xex99d1.htm:1]** 
- **bp** exercised a **365-day option** for the _Deepwater Atlas_ in the U.S. Gulf of America, contributing approximately **$232 million** to the backlog.  **[1451505_0001451505-25-000108_rig-20251001x8k.htm:1]** **[1451505_0001451505-25-000108_rig-20251001xex99d1.htm:1]** 
- **Petrobras** exercised a **30-day option** for the _Deepwater Mykonos_ in Brazil, expected to contribute approximately **$11 million** to the backlog.  **[1451505_0001451505-25-000108_rig-20251001x8k.htm:1]** **[1451505_0001451505-25-000108_rig-20251001xex99d1.htm:1]**

Transocean Announces $243 Million in Ultra-Deepwater Drillship Contract Fixtures

- Transocean Ltd. priced an underwritten public offering of **125,000,000 shares** at **$3.05 per share**, an increase from the originally proposed 100,000,000 shares.  **[1451505_0001451505-25-000099_rig-20250924x8k.htm:1]** **[1451505_0001451505-25-000099_rig-20250924xex99d1.htm:1]** 
- The offering is expected to generate approximately **$381,250,000** in gross proceeds for Transocean, with underwriters having an option to purchase up to an additional **18,750,000 shares**.  **[1451505_0001451505-25-000099_rig-20250924x8k.htm:1]** **[1451505_0001451505-25-000099_rig-20250924xex99d1.htm:1]** 
- The net proceeds are intended for the **repayment or redemption of indebtedness**, specifically a portion of the **$655 million aggregate principal amount of 8.00% Senior Notes due February 2027**.  **[1451505_0001451505-25-000099_rig-20250924xex99d1.htm:1]** 
- The offering is anticipated to close on **September 26, 2025**.  **[1451505_0001451505-25-000099_rig-20250924xex99d1.htm:1]**

Transocean Ltd. Announces Pricing of Upsized Public Offering of Shares

- Transocean Ltd. announced its intention to offer and sell **100,000,000 shares** in an underwritten public offering.  **[1451505_0001451505-25-000096_rig-20250924x8k.htm:1]** **[1451505_0001451505-25-000096_rig-20250924xex99d1.htm:1]** 
- The company also expects to grant the underwriters a 30-day option to purchase up to an additional **15,000,000 shares**.  **[1451505_0001451505-25-000096_rig-20250924x8k.htm:1]** **[1451505_0001451505-25-000096_rig-20250924xex99d1.htm:1]** 
- The net proceeds from the offering are primarily intended for the **repayment or redemption of indebtedness**, specifically a portion of the **$655 million aggregate principal amount of the 8.00% Senior Notes due February 2027**.  **[1451505_0001451505-25-000096_rig-20250924xex99d1.htm:1]** 
- Any proceeds from the offering not used for debt repayment will be allocated to general corporate purposes.  **[1451505_0001451505-25-000096_rig-20250924xex99d1.htm:1]**

Transocean (RIG)