Seadrill Ltd Company News

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Seadrill's Debt Overhaul Faces Creditor Scrutiny
Monday, October 02, 2017 Seadrill's $12.7 billion debt restructuring faces a critical phase as hold-out creditors prepare to challenge the plan put forward by John Fredriksen.

Seadrill Files for Bankruptcy in Bid to Shrink Debt Burden
Wednesday, September 13, 2017 Seadrill files for bankruptcy protection after working out a deal with almost all its senior lenders to inject $1B of new money into the company.

Seadrill Warns Again Of Chapter 11 As Extends $14B Debt Talks
Wednesday, July 26, 2017 Seadrill again delayed restructuring its $14 billion in debt and liabilities and reiterated that Chapter 11 bankruptcy was likely.

Seadrill in a Free Fall Is Fodder for Day Traders as Hope Fades
Wednesday, April 05, 2017 Seadrill is now at the mercy of short-term speculators as the biggest funds avoid the offshore driller amid a struggle to avoid bankruptcy.

Seadrill Drops to Record Low After Warning on Shareholder Losses
Tuesday, April 04, 2017 Seadrill fell 38% after warning its shareholders and bond investors they can expect steep losses.

Billionaire Fredriksen Buys Rig, Ends Hyundai Dispute
Monday, March 13, 2017 Billionaire investor John Fredriksen agrees to buy an oil drilling vessel from South Korean shipyard Hyundai Samho Heavy Industries.

Consultancy Firm: Seadrill's Fleet Value Declines
Thursday, March 02, 2017 The total value of Seadrill's fleet has dropped by more than $3 billion since January 2014, according to the latest data from maritime consultancy firm VesselsValue.

Rig Firm Seadrill Says $8B Debt Talks 'Complex', Expects 2Q Deal
Tuesday, January 31, 2017 Seadrill says talks to restructure its $8 billion debt have taken longer than expected, but it is aiming for a deal in the second quarter.

Rig Company Seadrill Sees Rough 2017 Despite Aramco Extension
Thursday, December 29, 2016 Seadrill says it signed a three-year contract extension with Saudi Aramco.

Rig Firm Seadrill Postpones Deadline On $9 Billion Debt Restructuring
Wednesday, November 16, 2016 Oil drilling rig operator Seadrill has again postponed a deadline for restructuring its $9 billion debt, the company says.

Seadrill Says Oil Industry May Be Turning As 2Q Beats Forecast
Thursday, August 25, 2016 Seadrill says the oil industry may be turning a corner as it posts Q2 earnings above forecasts.

Pemex Cancels West Pegasus Drilling Contract
Monday, August 22, 2016 Seadrill Limited receives a notice of termination from Pemex Exploracion y Servicios for the West Pegasus drilling contract, effective Aug. 16.

NADL, Jurong Shipyard Extend Standstill Agreement for West Rigel
Wednesday, June 08, 2016 North Atlantic Drilling Ltd. and Jurong Shipyard extend a standstill agreement for delivery of West Rigel semisub to September.

Seadrill Appoints New Executive Vice President
Thursday, June 02, 2016 The board of Seadrill Limited appoints Anton Dibowitz as the executive vice president of Seadrill Management Ltd.

Seadrill Warns of Further Cost-Cutting in 2016
Thursday, May 26, 2016 Seadrill will be cutting costs by approximately $340 million this year, after warning that the offshore drilling market "remains challenging".

Term Sheet: Seadrill Sells Stake In Sapurakencana Petroleum For $198M
Thursday, April 28, 2016 Seadrill sold its 8.2 percent stake in Malaysia's Sapurakencana Petroleum for $198 million.

Seadrill Plans to Lay Off More Than 100 Workers in Houston
Monday, April 18, 2016 Offshore deepwater drilling contractor Seadrill Americas will cut 112 jobs on one of its offshore rigs.

Seadrill Said to Line Up Houlihan, Morgan Stanley for Debt Talks
Wednesday, March 30, 2016 Seadrill, the offshore driller with the biggest debtload, hired Houlihan Lokey and Morgan Stanley to advise it in negotiations on restructuring $11 billion of loans and bonds.

Seadrill Secures Contract Extension for West Tellus Rig
Wednesday, March 23, 2016 Seadrill Limited receives an 18 month contract extension for the West Tellus drillship by Petroleo Brasileiro SA, commencing in April 2018.

Seadrill Surges 33%, Squeezing Shorts, as CEO Sees 2Q Refinancing
Monday, March 07, 2016 Shares in Seadrill shoot up by a third, as its chief executive says short-sellers are starting to panic at the prospect its refinancing plan will succeed.

SNM's Newbuild PSLV Sapura Jade Commences Work for Petrobras Off Brazil
Friday, February 19, 2016 Sapura Navegacao Maritima's newbuild pipelay support vessel Sapura Jade commences work with Petrobras on schedule offshore Brazil.

Seadrill Defers Delivery of Drillships from DSME
Friday, January 15, 2016 Seadrill says it is delaying the delivery of two ultra-deepwater drillships from South Korea's DSME.

Rig Firm Seadrill Sees Difficult Market through 2017
Thursday, January 14, 2016 Offshore driller Seadrill sees a challenging market throughout 2017 as low crude prices and cost cuts among oil companies continue to push daily rate hires below cost breakeven.

Paper: Billionaire Fredriksen to Buy Up Distressed Oil Rig Assets
Friday, December 18, 2015 Norwegian-born billionaire John Frediksen sets up a company to snap up oil rigs from firms struggling with low crude prices.

Seadrill Posts Operating Loss, Increases Cost Savings Target
Tuesday, November 24, 2015 Following an operating loss of $291 million in 3Q 2015, Seadrill Limited increases its cost savings target for the year to $600 million.

Rig 'Graveyard' Looms as Statoil Cuts North Sea Drillers Loose
Tuesday, November 03, 2015 The pressure is building on North Sea drillers starved of contracts as Statoil deepens cuts in investment to cope with a collapse in crude prices.

Offshore Rig Driller Seadrill Hopes To See Market Turn In 2017
Thursday, October 08, 2015 Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.

Husky Scraps Seadrill Drilling Contract
Tuesday, September 22, 2015 Husky Oil Operations cancels a drilling contract with Seadrill for the West Mira (UDW semisub).

Seadrill Cancels HHI's West Mira Construction Contract Over Delivery Delay
Wednesday, September 16, 2015 Seadrill terminates construction contract with Hyundai Heavy Industries for the West Mira semisub, citing delivery delay for the decision.

Oil Servicers Say 'Fat Trimming' Will Become New Norm
Friday, September 11, 2015 A slump in oil prices is forcing the oil and gas services industry to trim costs in a way that executives say will create a lasting change.

Seadrill Partners Acquires West Polaris UDW Drillship for $540M
Thursday, June 18, 2015 Seadrill Partners acquires the West Polaris ultra deepwater drillship for $540 million.

AOD Reduces Day Rates for 3 Jackups Working for Saudi Aramco
Friday, May 29, 2015 Asia Offshore Drilling reaches agreement with Saudi Aramco to reduce day rates for three jackups operating offshore Saudi Arabia.

No. 2 Offshore Oil Driller Seadrill Sees Industry Pain Through 2016
Thursday, May 28, 2015 The world's second biggest offshore oil driller, Seadrill, predicts years of pain for the global rig market.

Norwegian Oil Drillers Call in Mediator after Wage Talks Fail
Friday, May 22, 2015 Wage talks involving thousands of Norwegian offshore oil workers break down, raising the risk of a strike that could disrupt oil exploration and efforts to raise production.

Seadrill Unit's Deal with Russia's Rosneft Postponed Again
Friday, April 17, 2015 Seadrill subsidiary North Atlantic Drilling delays closing a cooperation deal with Rosneft amid western sanctions against Russia.

BP Terminates Gulf Of Mexico Rig Contracts As Low Oil Prices Bite
Tuesday, March 31, 2015 BP terminates contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the company cuts its exploration budget due to fallen oil prices.

Top Oil Drillers Face Years Of Pain, Get A Grip On Cost
Thursday, February 26, 2015 The world's biggest offshore drillers reports plunging earnings and orders but manages to get a grip on costs to improve their chances of riding out a sectoral crisis that could last.

Seadrill Gives Up On $1.1B of Petrobras Orders
Friday, February 13, 2015 Offshore driller Seadrill cuts $1.1 billion worth of Petrobras orders from its backlog due to the Brazilian firm's troubles.

In Battered Oil Services Sector, Smallest Look Weakest
Friday, January 23, 2015 Slammed by plunging oil prices, oil services companies face a bleak outlook of cutbacks and contract cancellations.

Seadrill to Guarantee North Atlantic Drilling's NOK 1.5B Bond
Thursday, January 22, 2015 Offshore drilling firm Seadrill says it will provide a guarantee for subsidiary North Atlantic Drilling's $197-million bond maturing in 2018.

Seadrill Appoints Expro CEO to its Board
Thursday, January 15, 2015 Offshore driller Seadrill appoints Expro CEO Dr Charles Woodburn to its board of directors.

Seadrill Acquires West Polaris Drillship from Ship Finance International
Wednesday, December 31, 2014 Seadrill acquires West Polaris drillship from Ship Finance International.

As Crude Tumbles, Oil Drillers Seek to Temporarily Idle More Rigs
Monday, December 01, 2014 Offshore drillers globally are increasingly considering "warm stacking" their rigs to take them temporarily off the market, as they gear up for a slowdown in the hunt for oil with crude prices sliding to five-year lows.

Seadrill Shares Dive after Dividends Suspended
Wednesday, November 26, 2014 Oilfield services firm Seadrill suspends dividend payments to help it weather a slump in offshore drilling rig market rates.

Seadrill's West Telesto to Drill Sea Lion Prospect in VIC/P57 Off Australia
Thursday, October 30, 2014 Hibiscus Petroleum's unit contracts Seadrill's West Telesto jackup to drill the Sea Lion prospect in permit VIC/P57 offshore Australia.

Board Change at Seadrill
Monday, October 27, 2014 Orjan Svanevik replaces Carl Erik Steen on Seadrill's board.

Billionaire Fredriksen's Partner Quits Rig Firm Seadrill, Shares Fall
Friday, September 19, 2014 Tor Olav Troeim, who until recently was referred to as the right-hand man of big Seadrill shareholder John Fredriksen, will not seek reelection to the board of Seadrill.

Seadrill Says Offshore Drilling Market 'Bad' This Year, Worse In 2015
Wednesday, September 10, 2014 Seadrill says the offshore drilling market will remain soft for the next couple of years.

Rig Company Seadrill Hit by Profit Miss, Cautious Outlook
Wednesday, August 27, 2014 Offshore driller Seadrill reports second-quarter earnings below forecasts, offering a cautious outlook.

Rosneft Signs Collaboration Deal with Seadrill, NADL
Friday, August 22, 2014 Rosneft signs a framework agreement with Seadrill and North Atlantic Drilling that will see the companies collaborate on oilfield projects.