New York, January 9, 2026, 08:18 EST — Premarket
- Transocean shares added 1.3% in premarket trading.
- Oil prices rose as traders weighed supply worries linked to Iran and Venezuela.
- Markets were on edge ahead of the U.S. jobs report, due before the opening bell.
Transocean Ltd shares were up 1.3% at $4.27 in premarket trading on Friday.
The shares moved with firmer crude, which tends to buoy offshore drillers on bets that higher oil prices keep exploration budgets healthy. Brent was up about 1% and U.S. crude about 0.9% as traders weighed unrest in Iran and uncertainty over Venezuelan supply. “Iran protests seem to be gathering momentum, leading the market to worry about disruptions,” said Ole Hansen, head of commodity analysis at Saxo Bank Reuters.
That mattered now with risk appetite already thin heading into the U.S. nonfarm payrolls report, which can jolt interest-rate bets, the dollar and energy prices all at once. Economists polled by Reuters expect payrolls to rise by 60,000 and the jobless rate to edge down to 4.5%, Reuters reported. (Reuters)
Other offshore drillers were higher early, led by Valaris, which rose 3.8%, and Noble, up 4.6%. Borr Drilling edged down 0.5%.
Transocean itself hasn’t put out any new company updates over the past day, though it recently flagged a contract development earlier this month. In a Jan. 5 filing, the company said a contract award and an extension for two rigs added about $168 million of firm backlog, including work for the Deepwater Mykonos with bp offshore Brazil and options exercised for the Transocean Enabler in Norway. (Securities and Exchange Commission)
Backlog is the industry’s shorthand for contracted revenue that’s already booked but not yet earned. For a driller, it can help smooth out weak spot demand, though it doesn’t erase risks tied to timing, costs or customer changes.
Transocean is still tethered to the broader oil cycle. If crude gives back this week’s gains, or producers get more cautious on spending, rig demand can fade fast and day rates can stall, even with a healthy order book.
Traders face another hurdle just minutes before the open, with the U.S. employment report due at 8:30 a.m. ET. U.S. inflation data follows next week. Separately, Nasdaq’s earnings calendar shows Transocean’s next results are estimated for Feb. 16, though the company hasn’t announced a date. (Bureau of Labor Statistics)
