$RIG

Transocean (RIG) rose 0.7% to close at $5.76 on Friday on higher volume, narrowing the gap to an analyst consensus target of $6.40. Brent rose 6% on the week amid Middle East supply risk, while U.S. crude stocks increased 17.4 million barrels. The planned all-share Valaris merger offers 15.235 RIG shares per VAL share.

Stocks including Peabody Energy (BTU), Borr Drilling (BORR), Texas Pacific Land (TPL), Halliburton (HAL) and Transocean (RIG) rose after crude prices climbed on Middle East geopolitical tensions. WTI rose above $81 and Brent neared $90 amid reports of stalled Iran ceasefire talks and a possible naval blockade. The article cites Hormuz supply risk and notes BORR up 4.8% to 9.8% in the session.

Stocks including Halliburton (HAL), TechnipFMC (FTI), Antero Resources (AR), APA (APA), and Transocean (RIG) rose after Brent rebounded to the mid-$80s. The move followed Strait of Hormuz disruption data and Iran’s parliament reviewing a bill to permanently ban hostile vessels, raising oil supply-risk premiums. XLE gained about 2.4%.

According to a CTFN report citing a source, Transocean has not certified compliance with the US Department of Justice’s second request related to its planned $5.8 billion acquisition of Valaris. The report says the DOJ is unlikely to approve the deal soon.

Stocks including Halliburton (HAL), TechnipFMC (FTI), Antero Resources (AR), APA (APA) and Transocean (RIG) rose after Brent rebounded to the mid-$80s. The move followed Strait of Hormuz shipping disruptions, UAE-vessel incident developments, and Iran’s review of a bill to permanently restrict hostile vessels, according to the article. Transocean gained 6.9% to about $5.70.

Transocean reported Q2 G&A of $56 million, above guidance, including about $11 million of Valaris acquisition-related costs, and adjusted EBITDA of $312 million (32% margin). Free cash flow was $212 million (22% margin) and unrestricted cash rose to about $510 million. The company plans to call $200 million of 8% Deepwater Aquila notes and raised 2026 revenue guidance. It added about $300 million of backlog in the quarter.

Simply Wall St reports Transocean (RIG) shares rose 1.9% to $5.26 after its Q2 results. The company posted about $966m revenue, $212m free cash flow, and a 32% adjusted EBITDA margin. It also reported net income excluding items of $170m versus a $938m loss a year earlier, with net debt around $4.3b.

Brazil’s competition authority CADE has opened a review of a business combination agreement between offshore drillers Transocean and Valaris, according to the report. The companies say the deal creates only one overlap in global offshore contract drilling and raises no vertical integration concerns. The review is under CADE’s full-form procedure.

Transocean reported Q2 free cash flow of $212 million, 68% of adjusted EBITDA, with adjusted earnings of 3 cents per share and revenue slightly above consensus, according to the company. It expects second-half capex of about $98 million and unchanged full-year capex of $150 million. Shares rose 2.3% to $5.26; backlog was $6.7 billion.

Transocean said in its Q2 fleet status report (Aug 5, 2026) it secured new work for three ultra-deepwater drillships. According to the report, an unnamed operator extended Deepwater Conqueror with two wells in the US Gulf to Jan 2027, Deepwater Proteus with two wells plus options to Nov 2026, and Murphy extended Deepwater Skyros in Ivory Coast to Sep 2026, with options. Incremental backlog is about $292 million.