Transocean (RIG) - Among the Energy Stocks that Gained This Week
The share price of Transocean Ltd. (NYSE:RIG) surged by 21.34% between February 6 and February 13, 2026, putting it among the Energy Stocks that Gained the Most This Week.
Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells.
Transocean Ltd. (NYSE:RIG) soared on February 9 after the company announced it had agreed to acquire Valaris in an all-stock deal valued at approximately $5.8 billion, expanding its presence across deepwater, harsh-environment, and shallow-water basins worldwide. The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders owning approximately 53% and Valaris shareholders owning the remaining 47%.
The pro forma company will own a fleet of 73 rigs, including 33 ultra-deepwater drillships, nine semisubmersibles, and 31 modern jackups. It is expected to unlock over $200 million in identified cost synergies, in addition to Transocean’s ongoing cost savings initiative. The deal is expected to close in the second half of 2026.
Keelan Adamson, President and CEO of Transocean Ltd. (NYSE:RIG), stated:
”This transaction creates a very attractive investment in the offshore drilling industry, differentiated by the best fleet, proven people, leading technologies, and unequalled customer service. The powerful combination is well-timed to capitalize on an emerging, multi-year offshore drilling upcycle. Investors and our global customers will benefit from our expanded fleet of best-in-class, high-specification rigs. We have identified more than $200 million in cost synergies that will complement our ongoing efforts to safely lower costs. The strong pro forma cash flow enables us to accelerate debt reduction, resulting in an expected leverage ratio of about 1.5x within 24 months of the transaction closing.”
Transocean Ltd. (NYSE:RIG) received further lift on February 10 when the company announced it had secured contract fixtures for its Encourage and Enabler rigs in Norway, representing a combined firm backlog of approximately $184 million.
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Disclosure: None.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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