Transocean stock jumps on $184 million Norway rig backlog boost, with Valaris deal in the background

Transocean Ltd climbed 1.3% to $6.08 before the bell at 6:13 a.m. EST, after the offshore driller announced firm backlog commitments totaling roughly $184 million for two harsh-environment semisubmersibles in Norway. A regulatory filing showed the Transocean Encourage secured a seven-well extension valued at about $152 million. The Transocean Enabler landed two one-well options totaling $32 million.

Valaris Limited shares slipped in premarket trading Tuesday, following a big surge the previous session after Transocean said it would acquire the offshore driller through an all-stock transaction.

Shares of Valaris Limited surged roughly 23% Monday after news broke of a $5.8 billion all-stock buyout that would see the offshore driller absorbed by Transocean. The stock most recently traded at $77.00.