Seadrill Ltd News

 

New 'Rig Baby' Takes Shape

Dec 05, 2019

Norwegian rig and shipping magnate John Fredriksen is pooling harsh environment rig assets and putting his money into new venture, Northern Ocean Ltd., now a business of Seadrill subsidiary, Northern Drilling.Fredriksen’s investment vehicle…

Seadrill Chairman Steps Down

Nov 21, 2019

Seadrill Chairman John Fredriksen, the oil rig firm's top shareholder, is stepping down with immediate effect, the company said on Thursday, as it holds discussions with lenders about restructuring its massive debts.The 75-year-old billionaire investor…

NYSE Begins to Delist Seadrill Partners

Sep 09, 2019

The international offshore drilling contractor Seadrill Partners LLC announced that it has been notified by the New York Stock Exchange that trading in SeaDrill's common units on the exchange has been suspended and the procedure to delist the units has been initiated…

Seadrill Contract Backlog Reaches $1.9bln

May 28, 2019

The deepwater drilling contractor Seadrill said that its contract backlog, as of May 23, 2019, totaled approximately $1.9 billion.The drilling services provider said it has added $130 million of additional backlog from March, including the AOD…

Seadrill Considers Selling Non-core Assets

May 23, 2019

Offshore drilling contractor Seadrill is considering selling non-core assets, including its 15.7% stake in oil service firm Archer , to reduce its liabilities, the firm's outgoing chief financial officer said on Thursday.Seadrill, controlled by Norwegian billionaire John Fredriksen…

Northern Wins Lundin Drilling Contract

Mar 01, 2019

Offshore driller Northern Drilling, part of John Fredriksen's Seadrill, has won a contract for its harsh environment newbuild semi-submersible rig West Bollsta with Lundin Petroleum in Norway.The drilling for ten-well program includes the development…

Seadrill CFO to Step Down in June

Jan 10, 2019

Norwegian offshore drilling rig firm Seadrill Ltd said on Thursday that Chief Financial Officer Mark Morris will step down following completion of the company's financial restructuring.The company, controlled by Norwegian-born billionaire John Fredriksen…

Seadrill Expects Contracting Rigs Market to Improve

Nov 27, 2018

Norwegian offshore drilling rig firm Seadrill Ltd sees the contracting rigs market improving from 2019-20, as it reported its first quarterly results on Tuesday since emerging from Chapter 11 bankruptcy in July.The company, controlled by Norwegian-born billionaire John Fredriksen…

Seadrill files for bankruptcy

Sep 13, 2017

Seadrill has filed for bankruptcy protection, as investors fork up US$1.06 billion of new capital for the company. Anton Dibowitz. Image from Seadrill. The company signed deals with more than 97% of its secured bank lenders…

Seadrill likely to file Chapter 11 bankruptcy

Aug 24, 2017

Drilling contractor Seadrill reported today (24 August) that it would likely file for Chapter 11 bankruptcy on or before 12 September to implement its comprehensive restructuring plan. Source: Seadrill The…

West Hercules to drill Cambo discovery

Jun 19, 2017

North Atlantic Drilling Ltd. Has been awarded a drilling contract with Siccar Point Energy E&P Limited for the Seadrill Ltd., semisubmersible West Hercules to drill and test the Cambo discovery offshore the UK West of Shetland. Drilling is scheduled to begin 1 April 2018…

Seadrill, NADL, Rosneft further extend framework deal

Jun 01, 2017

Seadrill and North Atlantic Drilling Ltd. (NADL) have agreed to further extend a framework deal with Rosneft for the use of rigs until 31 May 2019. The companies first agreed on the deal on 22 August 2014. In November 2014 the long…

Seadrill appoints new CEO

May 24, 2017

Dibowitz will become Seadrill's CEO on 1 July. Image from Seadrill. Seadrill has appointed Anton Dibowitz as the company’s new chief executive officer effective 1 July 2017. Dibowitz…

NADL bags double Conoco jackup work

Apr 11, 2017

North Atlantic Drilling (NADL) has secured 10-year contract awards for the West Elara and West Linus jackups with ConocoPhillips Skandinavia for work in the Greater Ekofisk Area. The total additional backlog for the new contract awards is estimated at US$1…

Seadrill in US$170 million West Mira settlement

Mar 13, 2017

Seadrill reached a US$170 million settlement agreement with Hyundai Samho Heavy Industries (HSHI) in relation to the West Mira arbitration. Seadrill said it receive a cash payment of $170 million this month as full settlement of the dispute…

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