Transocean to Acquire Valaris in $5.8B Deal

Transocean has entered into a definitive agreement to purchase Valaris through an all-stock transaction valued at around $5.8bn. After closing, Transocean shareholders are expected to own around 53% of the combined company, while Valaris holders will own about 47%.

The deal is targeted to close in H2 2026. The combined offshore drilling fleet will include 73 rigs: 33 ultra-deep-water drill-ships, nine semisubmersibles, and 31 jack-ups. The merged entity will operate across deep-water, harsh environment, and shallow-water markets worldwide.