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) 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.
Seadrill Limited (NYSE: SDRL) announced that its 3Q22 earnings will be released on November 30, 2022. The company will host a virtual presentation at 9:00am EST, followed by a Q&A session exclusive to analysts. Participants can join via conference call or webcast, with access to presentation materials available on Seadrill's website. Seadrill operates a technologically advanced offshore drilling fleet, serving clients worldwide. The release also includes forward-looking statements regarding market conditions and operational risks.
Seadrill Limited (NYSE: SDRL) has announced the binding Share Purchase Agreements for the sale of its 35% stake in Paratus Energy Services Limited. This move includes other interests held through Paratus, related to companies like SeaMex Group and Archer Ltd. The transaction is subject to standard closing conditions, including competition authority approvals, and is expected to finalize in Q4 2022 or early 2023. Seadrill continues to leverage advanced technologies in offshore drilling operations worldwide.
Seadrill Limited has announced a further extension of its forbearance agreement concerning its 12.0% senior secured notes due 2025. This extension, which follows previous announcements on April 19 and May 17, 2021, allows certain Note Holders to refrain from exercising enforcement rights related to events of default, including missed interest payments and ongoing Chapter 11 proceedings. The purpose is to provide time for the Issuer and stakeholders to negotiate a comprehensive balance sheet restructuring, potentially through a court-supervised process.
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