Transocean Inc. (RIG) late Tuesday said it hasbeen awarded a three-year contract extension for its drillship Deepwater Millennium from Anadarko Petroleum Corp. (APC), beginning in June 2010. The estimated revenue which could be generated over the three-year contractperiod is about $586 million, Houston-based Transocean said. The Deepwater Millennium is capable of operating in water depths of up to 10,000 feet.
Transocean shares closed yesterday up 58 cents at $129.65. Anadarko's stock finished up $1.59 at $60.53.
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