RBC Capital analyst Kurt Hallead downgraded the following offshore drillers to Underperform from Sector Perform: Rowan Companies (RDC), Oceaneering (OII), Diamond Offshore (DO), Transocean (RIG), Atwood Oceanics (ATW), and Noble Corp.(NE). Rowan target to $24 from $16, Oceaneering target to $24 from $26, Diamond Offshore target to $22 from $19, Transocean target to $17 from $11, Atwood target to $15 from $10, Noble Corp target $7.50. Hallead expects offshore drillers to underperform through 2017 as he believes that the space's fundamentals will "remain negative for the foreseeable future." The analyst says that inquiries about rigs are focused on 2018, and he expects pricing pressure and lower utilization to remain prevalent n 2017.

Transocean issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs. Deepwater Asgard - awarded a 365-day contract extension in the U.S. Gulf of Mexico at a rate of $505K. Deepwater Skyros - customer exercised a three-well option in Angola at a rate of $400K. The aggregate incremental backlog associated with these fixtures is approximately $248M. As of April 17, 2024, the company's total backlog is approximately $8.9B.