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 Ltd (SDRL) delivers essential offshore drilling services through its fleet of advanced drillships, semi-submersible rigs, and jack-up rigs. This news hub provides investors and industry professionals with direct access to official updates from one of the sector's key players.
Track critical developments including contract awards with major energy companies, quarterly financial results, and operational updates from challenging environments like ultra-deepwater sites. Our curated collection ensures you stay informed about SDRL's strategic moves in markets spanning the Americas, Africa, and Europe.
Discover time-sensitive announcements alongside analysis of long-term industry trends affecting offshore drilling. The page serves as your primary source for understanding how SDRL navigates complex energy markets through technological innovation and fleet optimization strategies.
Bookmark this resource for streamlined access to Seadrill's latest press releases, regulatory filings, and operational milestones. Check regularly for updates that could impact market positioning in the dynamic offshore energy sector.
Seadrill (NYSE & OSE: SDRL) has announced its first quarter 2024 results. The company reported an operating profit of $80 million and an Adjusted EBITDA of $124 million on $367 million in revenue, with an Adjusted EBITDA Margin of 33.8%. Despite a sequential revenue decline from $408 million in the previous quarter, the company secured its highest dayrate to date at $545,000 for a one-well contract. Seadrill reaffirmed its full-year guidance with projected revenues of $1.47 to $1.52 billion and Adjusted EBITDA between $400 to $450 million.
Significant operational highlights include the repurchase of 9.9 million shares (12.4% of the issued share count) since September 2023 and an order backlog of approximately $2.8 billion. As of March 31, 2024, Seadrill holds $612 million in cash and cash equivalents and has an additional $225 million available under its undrawn credit facility. The company also highlighted reduced operating expenses and a continued focus on strategic fleet management.
Seadrill has announced two new drillship contracts: The West Capella secured a one-well contract in South Korea worth $32 million, starting in December 2024. The West Neptune secured a six-month contract extension in the U.S. Gulf of Mexico valued at $86 million, starting in the third quarter of 2025.
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