Seadrill Limited - SDRL STOCK NEWS

On April 21, 2023, Seadrill Limited (NYSE: SDRL) announced an award under its management incentive plan for Todd Strickler, Senior Vice President and General Counsel. This follows a prior announcement on August 8, 2022, regarding the incentive plan aimed at rewarding certain management and key employees, as well as non-employee directors. The disclosure adheres to the EU Market Abuse Regulation and the Norwegian Securities Trading Act, indicating compliance with regulatory obligations. Seadrill, a leader in offshore drilling, operates a technologically advanced fleet to extract oil and gas worldwide, but the announcement does not contain financial metrics or changes that could directly impact shareholder value.

Seadrill Limited (NYSE: SDRL) has filed its 2022 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC) as of April 19, 2023. This report, which includes the Company’s complete audited financial statements for the fiscal year ended December 31, 2022, is available for download on the SEC's website and Seadrill’s investor relations page.

Shareholders can request a free hard copy of the Annual Report by emailing the designated contact. The filing adheres to the disclosure requirements under the Norwegian Securities Trading Act. Seadrill is a prominent offshore drilling contractor focused on harnessing advanced technology to explore oil and gas resources globally.

Seadrill Limited (NYSE: SDRL) reported its Q4 2022 financial results, highlighting a 15% decrease in operating revenues to $228 million. The company's total adjusted EBITDA for the full year stood at $265 million, aligning with guidance. A positive note includes an increase in order backlog to $2.3 billion and strong operational performance with a 95% technical utilization. Following a successful relisting on the NYSE and the acquisition of Aquadrill, the combined order backlog reached approximately $2.6 billion. Cash and cash equivalents were reported at $480 million as of December 31, 2022.

Seadrill Limited (NYSE: SDRL) has successfully completed its acquisition of Aquadrill LLC, making it a wholly owned subsidiary. In total, 29,866,505 common shares were issued to former Aquadrill stakeholders, increasing Seadrill's share capital to $798,665.03 across 79,866,503 shares. This merger positions Seadrill as a leading offshore drilling company with a modern fleet, enhancing its market capabilities. The combined company boasts a backlog of $2.6 billion and anticipates annual synergies of at least $70 million, to be fully realized within two years. The leadership will remain unchanged, ensuring continuity as the company aims for growth amid an improving market.

Seadrill Limited (NYSE: SDRL) has announced the publication of an exempted document related to its proposed all-stock acquisition of Aquadrill LLC. This document outlines key features of the transaction and is meant for the admission of new Seadrill common shares post-transaction completion. It is important to note that this exempted document has not been approved by the Norwegian Financial Supervisory Authority or any other regulatory body. Seadrill emphasizes that this communication does not constitute an offer or solicitation regarding any securities. For full details, the document can be accessed on Seadrill's website.

Seadrill Limited (NYSE: SDRL) has announced the release of its 4Q22 earnings scheduled for April 5, 2023. A virtual presentation will accompany the earnings report at 9:00 AM EST, where executives will discuss company performance and future outlook. Analysts will have the opportunity to participate in a Q&A session following the presentation. Participants can join the presentation via webcast or telephone conference. A replay will be made available shortly after the event on Seadrill’s Investor Relations website.

Seadrill Limited (NYSE: SDRL) held its 2022 Annual General Meeting on March 21, 2023, in Hamilton, Bermuda. The meeting covered the audited financial statements for the year ending December 31, 2021. Key shareholder resolutions included the re-election of seven directors, the appointment of PricewaterhouseCoopers LLP as auditor for 2022, and confirmation of directors' remuneration for 2022 and 2023. Additionally, shareholders approved an increase in the number of directors to nine, allowing the Board to fill two vacancies. More information is available on Seadrill's website.

Seadrill Limited (NYSE: SDRL) has announced the withdrawal of two proposals ahead of its 2022 Annual General Meeting scheduled for March 21, 2023. The Board of Directors decided to withdraw the management incentive plan and the amendment to the Company’s Bye-laws after discussions with shareholders. These proposals will not be voted on during the meeting. The decision comes amidst an assessment of the company's future strategies and shareholder feedback, intended to focus on constructive dialogue regarding company governance.

Seadrill Limited (NYSE: SDRL) issued a letter to shareholders on March 13, 2023, addressing recommendations from proxy advisory services ahead of its Annual General Meeting scheduled for March 21, 2023. The company, a prominent offshore drilling contractor, operates a fleet of 30 rigs for oil and gas exploration in various environments. This communication underscores the importance of shareholder engagement as Seadrill navigates market conditions and operational challenges. The press release also contains forward-looking statements concerning the company's business plans and inherent risks, including fluctuating prices, competition, and potential cash flow issues.