Transocean Offshore Gets Rig Contracts

Transocean Offshore Inc. said it received contracts for two of its oil and natural gas deep-water drilling rigs that could total $116.8 million. Houston-based Transocean Offshore, a provider of contract drilling services in deep water and harsh environments, did not identify the companies signing the contracts. Its Transocean Rather, a semi-submersible rig now being used by Royal Dutch Petroleum Co. unit Shell Oil Co., was hired for a year beginning in June 1998 under a contract valued at $63.9 million, Transocean Offshore said. Transocean Offshore shares rose $2.75 to close at $61.625 on the New York Stock Exchange.