Welcome to our dedicated page for Seadrill news (Ticker: SDRL), a resource for investors and traders seeking the latest updates and insights on Seadrill stock.
Seadrill Limited reports developments for an offshore drilling contractor focused on deepwater oil and gas drilling. News commonly covers fleet contracts, extensions and backlog for ultra-deepwater drillships such as West Neptune, West Vela, West Polaris, West Saturn, West Capella, West Jupiter and Sonangol Quenguela.
Company updates also address quarterly results, revenue and EBITDA guidance, capital expenditures, maintenance activity, debt and cash position, and operating activity in markets including the U.S. Gulf, Brazil, Angola and Malaysia. Seadrill's customer base includes national, integrated and independent oil companies, with Sonadrill providing additional Angola exposure through a joint venture structure.
Seadrill (NYSE:SDRL) priced an upsized private Offering of $700 million aggregate principal amount of 6.750% Senior Notes due July 15, 2034, issued at par. The deal was increased from $600 million and is expected to close June 30, 2026, subject to customary conditions.
Seadrill Finance plans to use part of the net proceeds to redeem all outstanding 8.375% Senior Secured Second Lien Notes due 2030 and discharge their indenture, with the balance for Offering fees, expenses, and general corporate purposes.
Seadrill (NYSE: SDRL) plans a private Offering of $600 million senior unsecured notes due 2034 through subsidiary Seadrill Finance, subject to market conditions.
According to Seadrill, net proceeds plus cash on hand are intended to redeem about $575 million of existing 8.375% Senior Secured Second Lien Notes due 2030 and discharge their indenture.
Seadrill (NYSE: SDRL) held its 2026 Annual General Meeting on June 3, 2026, at the Hamilton Princess Hotel & Beach Club, Bermuda. Audited 2025 financial statements were presented, nine directors were re-elected, PwC US was appointed auditor for 2026, and several compensation-related resolutions were approved.
Seadrill (NYSE: SDRL) reported first quarter 2026 results with total operating revenues of $358 million and a net loss of $7 million. Adjusted EBITDA was $97 million with a 27.9% margin excluding reimbursables.
The company secured over $860 million of new contracts, lifting Contract Backlog to about $3.1 billion. Full-year 2026 guidance was raised to $1.43–$1.48 billion in total operating revenues and $370–$420 million Adjusted EBITDA, while capital expenditure guidance stayed at $200–$240 million.
Seadrill (NYSE: SDRL) announced two U.S. Gulf contract awards with LLOG/Harbour Energy, adding approximately $260 million to contract backlog.
The ultra-deepwater drillship West Neptune received a 365-day extension starting in September 2026; the ultra-deepwater drillship West Vela received a 270-day program starting in August 2026. Management said the awards enhance revenue visibility, support free cash flow, and position both units well for availability into 2027 amid improving global floater utilization.
Seadrill (NYSE: SDRL) will release first quarter 2026 results on Monday, May 11, 2026, before the NYSE opens. The company will host a conference call at 08:00 CT / 15:00 CET the same day, with a live webcast and replay on its Investor Relations website.
Dial-in details: +1 (800) 715-9871, Conference ID 2874047; participants should join at least 15 minutes early.
Seadrill (NYSE: SDRL) secured a 1,095-day contract extension for the ultra-deepwater drillship West Polaris with Petrobras for the Búzios field, offshore Brazil. The extension adds approximately $480 million in contract backlog and is expected to begin in direct continuation of the current program in January 2028.
The company updated contracted dayrates: $409,200 from April 1, 2026 to March 31, 2027 and $454,700 from April 1, 2027 to January 15, 2028. Management said the award enhances earnings visibility for a mature asset and strengthens the Petrobras relationship.
Seadrill (NYSE: SDRL) said its 50:50 joint venture Sonadrill has had a seven-well priced option exercised for the ultra-deepwater drillship Sonangol Quenguela, extending operations in Angola by approximately 480 days and committing the rig into June 2028.
Seadrill will earn a management fee for providing management, operational and technical support to Sonadrill during the extended period.
Seadrill (NYSE: SDRL) reported fourth-quarter 2025 results and provided 2026 guidance. Full-year 2025 Adjusted EBITDA was $353 million and net loss was $77 million. Q4 revenue was $362 million, Adjusted EBITDA $88 million, and Q4 net loss was $10 million. Contract backlog rose to $2.5 billion after seven rig awards adding ~$0.5 billion.
The company ended Q4 with gross debt of $625 million, cash of $365 million and net debt of $260 million. 2026 guidance: revenues $1.40–1.45 billion, Adjusted EBITDA $350–400 million, and capex $200–240 million.
Seadrill (NYSE: SDRL) announced that Equinor Brasil Energia Ltda exercised a one-year priced option for the ultra-deepwater drillship West Saturn. The option adds $114 million to contract backlog and extends the original contract (commenced 2022) through October 2027.
The extension marks a sixth consecutive year of operations for West Saturn with Equinor in Brazil, reinforcing their long-term collaboration on safe, reliable offshore activity in a strategic basin.