DECEMBER 31, 2018 — In a year-end morale booster for the offshore drilling industry, Transocean Ltd. (NYSE: RIG) reported Friday that it had signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron USA, Inc. for one of the two dynamically positioned ultra-deepwater drillships it currently has under construction at Singapore’s Jurong shipyard.
Transocean says that the drilling contract has an estimated backlog of $830 million, excluding...