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 reports developments for an offshore drilling contractor focused on deepwater oil and gas drilling. News commonly covers fleet contracts, extensions and backlog for ultra-deepwater drillships such as West Neptune, West Vela, West Polaris, West Saturn, West Capella, West Jupiter and Sonangol Quenguela.
Company updates also address quarterly results, revenue and EBITDA guidance, capital expenditures, maintenance activity, debt and cash position, and operating activity in markets including the U.S. Gulf, Brazil, Angola and Malaysia. Seadrill's customer base includes national, integrated and independent oil companies, with Sonadrill providing additional Angola exposure through a joint venture structure.
Seadrill (NYSE: SDRL) reported second quarter 2026 total operating revenues of $449 million, up from $358 million in Q1 2026, and net income of $29 million versus a prior-quarter loss. Adjusted EBITDA rose to $144 million, with an Adjusted EBITDA margin excluding reimbursables of 33.5% and economic utilization of 96%.
Seadrill raised full-year 2026 guidance, increasing total operating revenues to $1.50–$1.55 billion and Adjusted EBITDA to $420–$450 million, while keeping capital expenditure and long-term maintenance at $200–$240 million. The company extended its share repurchase program through December 31, 2026 and repurchased about $20 million of shares in Q2. It refinanced senior notes due 2030, extending maturity to 2034, and increased its revolving credit facility to $300 million with maturity to 2031. Quarter-end gross principal debt was $750 million, cash including restricted cash was $360 million, and net debt was $390 million. New awards and extensions in the U.S. Gulf and Malaysia added roughly $200 million to contract backlog, lifting total backlog to about $2.9 billion as of August 10, 2026.
Seadrill (NYSE: SDRL) plans to release its second quarter 2026 financial results on Monday, August 10, 2026, before the NYSE opens for trading. The company will hold a conference call at 08:00 CT / 15:00 CET, accessible via dial-in and live webcast with replay on its Investor Relations website.
Seadrill (NYSE: SDRL) extended its existing $500 million share repurchase program. As of June 19, 2026, about $208 million remained available. On June 22, 2026, the Board extended the program’s expiration from June 25, 2026 to December 31, 2026, with flexibility on timing, pricing and methods.
Seadrill (NYSE:SDRL) priced an upsized private Offering of $700 million aggregate principal amount of 6.750% Senior Notes due July 15, 2034, issued at par. The deal was increased from $600 million and is expected to close June 30, 2026, subject to customary conditions.
Seadrill Finance plans to use part of the net proceeds to redeem all outstanding 8.375% Senior Secured Second Lien Notes due 2030 and discharge their indenture, with the balance for Offering fees, expenses, and general corporate purposes.
Seadrill (NYSE: SDRL) plans a private Offering of $600 million senior unsecured notes due 2034 through subsidiary Seadrill Finance, subject to market conditions.
According to Seadrill, net proceeds plus cash on hand are intended to redeem about $575 million of existing 8.375% Senior Secured Second Lien Notes due 2030 and discharge their indenture.
Seadrill (NYSE: SDRL) held its 2026 Annual General Meeting on June 3, 2026, at the Hamilton Princess Hotel & Beach Club, Bermuda. Audited 2025 financial statements were presented, nine directors were re-elected, PwC US was appointed auditor for 2026, and several compensation-related resolutions were approved.
Seadrill (NYSE: SDRL) reported first quarter 2026 results with total operating revenues of $358 million and a net loss of $7 million. Adjusted EBITDA was $97 million with a 27.9% margin excluding reimbursables.
The company secured over $860 million of new contracts, lifting Contract Backlog to about $3.1 billion. Full-year 2026 guidance was raised to $1.43–$1.48 billion in total operating revenues and $370–$420 million Adjusted EBITDA, while capital expenditure guidance stayed at $200–$240 million.
Seadrill (NYSE: SDRL) announced two U.S. Gulf contract awards with LLOG/Harbour Energy, adding approximately $260 million to contract backlog.
The ultra-deepwater drillship West Neptune received a 365-day extension starting in September 2026; the ultra-deepwater drillship West Vela received a 270-day program starting in August 2026. Management said the awards enhance revenue visibility, support free cash flow, and position both units well for availability into 2027 amid improving global floater utilization.
Seadrill (NYSE: SDRL) will release first quarter 2026 results on Monday, May 11, 2026, before the NYSE opens. The company will host a conference call at 08:00 CT / 15:00 CET the same day, with a live webcast and replay on its Investor Relations website.
Dial-in details: +1 (800) 715-9871, Conference ID 2874047; participants should join at least 15 minutes early.
Seadrill (NYSE: SDRL) secured a 1,095-day contract extension for the ultra-deepwater drillship West Polaris with Petrobras for the Búzios field, offshore Brazil. The extension adds approximately $480 million in contract backlog and is expected to begin in direct continuation of the current program in January 2028.
The company updated contracted dayrates: $409,200 from April 1, 2026 to March 31, 2027 and $454,700 from April 1, 2027 to January 15, 2028. Management said the award enhances earnings visibility for a mature asset and strengthens the Petrobras relationship.