Seadrill - SDRL STOCK NEWS

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.

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.