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 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.
Seadrill Limited (NYSE: SDRL) has appointed Ana Zambelli as a new director, enhancing its board with over 20 years of industry experience. Zambelli’s background includes leadership roles at major companies like Maersk Drilling and Transocean, as well as financial oversight in Brookfield’s Private Equity Group in Brazil. She has also served on the boards of Petrobras and Braskem, contributing to diverse initiatives in the energy sector. Julie Robertson, Seadrill's Chair, highlighted Zambelli's extensive expertise, which aims to reinforce Seadrill's position as a top offshore drilling contractor.
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.