Shell inks $385M deal with Transocean for upgraded deepwater drilling rig

Ray Tyson

Offshore contract drilling company Transocean has entered into an agreement with Shell for the upgrade of one of Transocean’s Sedco 700-series semi-submersible rigs, Transocean said Nov. 7. Under the terms of the transaction, which is expected to generate about $350 million in day-rate revenues for....