Transocean (RIG) reported FY 2025 contract drilling revenues of USD 3.97 billion (+13%) and revenue efficiency of 96.5% (up from 94.5%). Net loss attributable to controlling interest was USD 2.92 billion, or USD 3.04 per diluted share, while adjusted EBITDA was USD 1.37 billion (+19%) with a 34.6% margin. Cash flows from operations were USD 749 million (+68%) and free cash flow was USD 626 million (up from USD 193 million). Total principal debt was reduced to USD 5.69 billion (down USD 1.26 billion, -18%), with total liquidity of USD 1.51 billion. In Q4 2025, contract drilling revenues were USD 1.04 billion (+1.5% sequential), net income attributable to controlling interest was USD 25 million (USD 0.02 per diluted share), and adjusted EBITDA was USD 385 million. Transocean said it added USD 839 million of contract backlog in 2025 at a weighted average dayrate of USD 453,000, and reported total backlog of about USD 6.1 billion as of Feb. 19, 2026. Management highlighted record uptime performance “just shy of 98%,” approximately USD 1.3 billion of debt principal retired in 2025, and a definitive agreement to combine with Valaris. Transocean also issued 2026 guidance including FY contract drilling revenues of USD 3.80–3.95 billion and FY adjusted revenue efficiency of 96.50%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Transocean Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202602191923PRIMZONEFULLFEED9658128) on February 20, 2026, and is solely responsible for the information contained therein.