Seadrill Stock Price, News & Analysis

Seadrill (NYSE: SDRL) has scheduled its first quarter 2025 earnings release and conference call for Monday, May 12. The earnings announcement will be released before the NYSE market opening, followed by a conference call at 08:00 CT / 15:00 CET.

Participants can join the call using the dial-in number +1 (800) 715-9871 with Conference ID 5348977. The company will also provide a live webcast through the Investor Relations section of their website, with a replay available after the call.

Seadrill (NYSE: SDRL) reported its Q4 and full year 2024 results, achieving a net income of $446 million and Adjusted EBITDA of $378 million for 2024. The company secured $1 billion in backlog through long-term contracts for West Jupiter and West Tellus with Petrobras.

Q4 2024 operating revenues decreased 18% to $289 million, with contract revenues down 22% to $204 million due to fewer operating days. The quarter ended with $505 million in cash and a net debt position of $120 million.

Notable achievements include the sale of West Prospero for $45 million and continued share repurchases totaling $792 million since September 2023, reducing share count by 22%. The company's Order Backlog stands at approximately $3.0 billion, with 75% of available rig days contracted for 2025.

Seadrill (NYSE: SDRL) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 26, after the NYSE market close. The company will hold a conference call to discuss these results on Thursday, February 27 at 09:00 CT / 16:00 CET. Investors can participate by dialing +1 (800) 715-9871 with Conference ID: 5348977. The call will also be webcast live on Seadrill's Investor Relations website, where a replay will be available after the event.

Seadrill (NYSE: SDRL) has announced the completion of the sale of its jack-up rig West Prospero for $45 million in cash proceeds. The rig had been stacked (inactive) since 2016. According to CEO Simon Johnson, this sale aligns with the company's strategic goal to exit the benign jack-up market and represents the successful monetization of a non-core asset.

Seadrill (NYSE: SDRL) has secured a significant contract for its ultra-deepwater drillship, West Tellus. The 1,095-day contract was awarded by Petrobras for operations in the Sépia and Atapu fields in Brazil's Santos Basin. The contract will add approximately $498 million to Seadrill's order backlog, plus a $41 million mobilization fee. Operations are scheduled to begin in Q1 2026, with an optional extension period of up to 305 days. Petrobras holds 65.7% stake in Atapu and 55.3% in Sépia fields, serving as the operator for both. This contract, combined with the recent West Jupiter award, adds approximately $1 billion to Seadrill's backlog.

Seadrill (NYSE: SDRL) has secured a significant contract for its ultra-deepwater drillship, West Jupiter, in Brazil. The contract, awarded by Petrobras following a competitive tender process, spans 1,095 days and will contribute approximately $493 million to Seadrill's order backlog, plus a $31.5 million mobilization fee. Operations are scheduled to begin in Q1 2026.

The company, recently named 'Drilling Contractor of the Year' by Petrobras in 2024, now operates six drillships in Brazil, strengthening its position in the deepwater market with industry-leading contract durations.

Seadrill (NYSE: SDRL) reported Q3 2024 results with operating profit of $47 million and Adjusted EBITDA of $93 million. The company increased its full-year 2024 Adjusted EBITDA guidance by 13% to $385 million. Total operating revenues were $354 million, down 6% from Q2. During Q3, Seadrill repurchased 4.0 million shares for $183 million. The company ended the quarter with $625 million in gross debt and $592 million in cash. Based on strong performance, Seadrill revised its full-year 2024 guidance, now expecting total operating revenues between $1,390-1,410 million and Adjusted EBITDA of $375-395 million.

Seadrill (NYSE: SDRL) has announced its schedule for releasing third quarter 2024 financial results. The company will report its Q3 2024 earnings on Tuesday, November 12 after the New York Stock Exchange closes for trading. Following this, Seadrill will host a conference call on Wednesday, November 13 at 08:00 CT / 15:00 CET to discuss the results.

Interested participants can join the call by dialing +1 (800) 715-9871 and using the Conference ID: 5348977. It is recommended to dial in at least 15 minutes before the scheduled start time. Additionally, Seadrill will provide a live webcast of the call on the Investor Relations section of its website, where a replay will also be available after the call.

Seadrill (NYSE: SDRL) and Oil States International, Inc. (NYSE: OIS) have announced a strategic collaboration to enhance offshore Managed Pressure Drilling (MPD) operations. This partnership combines Oil States' MPD Integrated Riser Joint (IRJ) system with Seadrill's high-spec floating drilling vessels to improve safety and efficiency in offshore drilling.

The Oil States MPD IRJ offers several advantages, including improved gas influx handling, reduced nonproductive time, and easier handling. It features twin retrievable annular seals, a passive rotating control device bearing assembly, and eliminates the need for a wear sleeve. This collaboration aims to standardize MPD systems and make them more mainstream in offshore operations.