Investors Are Gobbling Up Shares of These 10 Firms

4. Transocean Ltd. (NYSE:RIG)

Transocean Ltd. grew its share prices by 7.32 percent on Tuesday to close at $3.08 apiece as investors cheered worth $100 million of backlogs after its client, Equinor ASA, exercised the option to extend its drilling operations at the Spitsbergen rig in Norway.

In a statement, Transocean Ltd. (NYSE:RIG) said Equinor exercised a two-well option for the Transocean Spitsbergen in Norway. The program is expected to kick off in the first quarter of the year in direct continuation of the rig’s current program.

The additional work followed their original there-well program on the Norwegian Continental Shelf (NCS), which was procured in 2024.

The Transocean Spitsbergen was built in 2010 as a sixth-generation dual-derrick winterized semi-submersible rig, which is capable of drilling high-pressure and high-temperature formations.

In the first quarter of the year, Transocean Ltd. (NYSE:RIG) swung to a net loss of $79 million from a net income of $98 million in the same period a year earlier, despite contract drilling revenues improving by 18.7 percent to $906 million from $763 million year-on-year.