Transocean Ltd. (NYSE:RIG) is among the 10 Best Oil & Gas Drilling Stocks to Buy.
On February 19, 2026, Transocean Ltd. disclosed full-year 2025 contract drilling revenues of $3.965 billion, a 13% rise in adjusted EBITDA of $1.37 billion, and a net loss of $2.915 billion, or $3.04 per diluted share. The company increased its sales efficiency to 96.5%, producing $749 million in operating cash flow and $626 million in free cash flow. The firm lowered overall debt to $5.686 billion and closed the year with $1.507 billion in liquidity.
In the fourth quarter, Transocean Ltd. reported contract drilling revenues of $1.043 billion, net income of $25 million, or $0.02 per diluted share, and adjusted EBITDA of $385 million. The company earned $349 million in operating cash flow and invested $28 million in capital expenditures. As of February 19, 2026, the backlog was around $6.1 billion. The firm expects full-year contract drilling revenues of $3.8 billion to $3.95 billion in 2026.
Transocean Ltd. provides offshore contract drilling services for oil and gas wells. It also manages and owns offshore drilling fleets consisting of ultra-deepwater, harsh environment, deepwater, and midwater rigs.
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