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 (SDRL) is a leading offshore drilling contractor, providing crucial services to the oil and gas industry. The company specializes in owning and operating a diverse fleet of drilling units, including drillships, semi-submersible rigs, and jack-up rigs. These units are designed to operate in environments ranging from shallow to ultra-deepwater, and in both benign and harsh conditions.
Seadrill's operations are spread across key geographical segments such as the United States, Brazil, Angola, Norway, and others, with the bulk of its revenue generated from the United States market. The company's advanced drilling units are equipped with state-of-the-art technology to ensure efficient and safe operations, thereby maintaining a competitive edge in the offshore drilling sector.
In recent developments, Seadrill has successfully secured multiple contracts that emphasize its strong market position. The company continuously works on enhancing its operational efficiency and maintaining robust financial health to ensure sustainable growth. Strategic partnerships and collaborations with major oil and gas companies further bolster its market presence.
Seadrill's commitment to safety and environmental sustainability are central to its operations. The company adheres to stringent safety protocols and invests in environmentally friendly technologies to minimize its ecological footprint. This focus not only ensures compliance with regulatory standards but also strengthens its reputation among stakeholders.
For investors and stakeholders looking to stay updated with the latest news and developments, Seadrill's performance, contract wins, and financial updates are regularly published on platforms such as StockTitan. Staying informed about these updates is crucial for making well-informed investment decisions and understanding the company's trajectory in the dynamic oil and gas industry.
Seadrill Limited (NYSE: SDRL) announced a six-month term extension for the West Neptune rig with LLOG Exploration Offshore, L.L.C in the Gulf of Mexico. This agreement will keep the rig operational until Q3 2024 and is valued at approximately $79 million. The extension is part of Seadrill's ongoing relationship with LLOG, reinforcing their commitment to offshore drilling operations. The company utilizes advanced technology to extract oil and gas from various locations globally. Seadrill's management emphasized that future results may vary due to market conditions and other factors outlined in its public filings.
Seadrill Limited (NYSE: SDRL) has filed a Form F-4 registration statement with the SEC related to its all-stock acquisition of Aquadrill LLC, initially announced on December 22, 2022. This filing includes a prospectus for issuing common shares to Aquadrill unitholders and equity award holders. To expedite SEC registration, Seadrill has postponed its fourth-quarter 2022 results, now expected on or around April 5, 2023. Additionally, Seadrill filed with the FTC in January 2023 regarding the transaction, with applicable waiting periods now expired.
Seadrill Limited (NYSE: SDRL) announced its 2022 Annual General Meeting will take place on March 21, 2023, in Bermuda. This follows an earlier notice on December 27, 2022. Shareholders can access the 2022 Notice of Annual General Meeting and Proxy Statement through Seadrill's website. Seadrill, a prominent offshore drilling contractor, utilizes advanced technology to extract oil and gas resources globally, operating across various environments from shallow to ultra-deep-water.
Seadrill Limited (NYSE: SDRL) has appointed Ana Zambelli as a new director, enhancing its board with over 20 years of industry experience. Zambelli’s background includes leadership roles at major companies like Maersk Drilling and Transocean, as well as financial oversight in Brookfield’s Private Equity Group in Brazil. She has also served on the boards of Petrobras and Braskem, contributing to diverse initiatives in the energy sector. Julie Robertson, Seadrill's Chair, highlighted Zambelli's extensive expertise, which aims to reinforce Seadrill's position as a top offshore drilling contractor.
Seadrill Limited (NYSE: SDRL) has announced that its Annual General Meeting (AGM) for 2022 will take place on March 21, 2023, in Bermuda. Shareholders will receive a Notice of AGM and Proxy Statement closer to the meeting date. Seadrill is a prominent offshore drilling contractor known for using advanced technology to optimize oil and gas extraction in various environments. The PR includes forward-looking statements about the company's strategies and market trends, acknowledging inherent risks and uncertainties that could affect future outcomes.
Seadrill Limited (NYSE: SDRL) has announced a merger agreement to acquire Aquadrill LLC in an all-stock transaction valued at approximately US$958 million. Post-transaction, Seadrill shareholders will own 62% and Aquadrill unitholders 38% of the combined entity. The merger aims to create a leading offshore drilling company with a modern fleet and estimated annual synergies of at least US$70 million. The transaction, approved by both companies' boards, is expected to close by mid-2023, subject to regulatory approvals.
Seadrill Limited (NYSE: SDRL) reported robust financial results for Q3 2022, achieving 98% technical utilization. The company generated $269 million in total operating revenues and $20 million in operating profit, with an Adjusted EBITDA of $71 million, translating to a 23% margin. Cash reserves stand at $349 million, including $224 million in unrestricted funds. Notably, Seadrill successfully sold seven jackup rigs in Saudi Arabia, contributing to a total order backlog of approximately $3 billion. The firm also relisted its shares on the NYSE and up-listed to the main Oslo Stock Exchange market.
Seadrill Limited (NYSE: SDRL) has officially uplisted from Euronext Expand to the Oslo Stock Exchange (OSE) as of November 17, 2022. This move fulfills the company's goal of dual listings in 2022, enhancing its presence in Norway's financial markets. CEO Simon Johnson expressed optimism about strengthening investor relationships and expanding business prospects across global oil and gas resources. The company operates a technologically advanced fleet, conducting offshore drilling in various environments, emphasizing its strategic growth within the industry.
Seadrill Limited (NYSE: SDRL) announced on November 16, 2022, the approval and publication of a prospectus supplement linked to its imminent listing on the Oslo Stock Exchange. This follows the board's approval from the Oslo Stock Exchange for the company's application to trade on its main list. The initial prospectus was released on April 27, 2022, and the supplement is intended to be read alongside it. The company operates a technologically advanced fleet for offshore drilling globally.
Seadrill Limited (NYSE: SDRL) announced a significant contract extension for its joint venture, Sonadrill Holding Ltd, securing a 12-well extension in Angola at a rate of $402,500 per day. This total contract value approximates $327 million, with operations expected to commence in Q4 2022 and last for 25 months. Seadrill continues to manage the drillships under this venture, reinforcing its position as a leading operator in Angola's oil sector. The CEO highlighted the anticipated generation of substantial free cash flow from this contract, benefiting both Seadrill and Sonangol shareholders.
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