Seadrill Ltd Company News

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Seadrill to Cut 168 Jobs in Houston
Friday, August 14, 2020Seadrill Americas has notified employees of pending layoffs at its 11025 Equity Dr., Suite 150 location in Houston.

Seadrill Cold Stacking Sevan Louisiana Rig, Laying Off Staff
Monday, June 15, 2020About 135 employees assigned to the rig will be laid off beginning in June.

Seadrill's West Polaris Contract Terminated Early
Monday, May 18, 2020The contract is now expected to end in early November 2020.

Neptune Claims Subsea Feat Offshore Norway
Thursday, May 14, 2020This image, captured from a video provided by Neptune Energy, shows the company's dual drilling operation using Seadrill's West Phoenix semi-sub. IMAGE SOURCE: Neptune Energy

Seadrill Rig Order Goes to Semco
Friday, January 24, 2020This photo shows the Seadrill-operated West Bollsta harsh-environment rig, which will mobilize on the Norwegian Continental Shelf. PHOTO SOURCE: Semco Maritime.

Seadrill-Operated Rig Claims Low Emission Milestone
Monday, November 25, 2019Pictured is North Drilling's Seadrill-operated West Mira semisub. PHOTO SOURCE: Wintershall Dea

Seadrill Aims for Increased Offshore Safety with New Technology
Monday, August 19, 2019Offshore drilling contractor Seadrill Limited has introduced a new technology to enhance offshore safety.

Seadrill Gains Foothold in Key Jackup Market
Friday, August 16, 2019Seadrill and GDI have formed a 50:50 joint venture.

Seadrill Wins West Africa Contract
Thursday, July 18, 2019Seadrill Limited reported Wednesday that it has secured a contract for its West Gemini drillship in West Africa.

Fredriksen Is Back in Rigs After $5 Billion Vanished in Seadrill
Friday, July 06, 2018The Norwegian-born "Big Wolf" is placing a new wager on offshore drilling.

Seadrill CEO Sees Consolidation Speeding Up Drilling Market Recovery
Tuesday, July 03, 2018Consolidation among smaller offshore oil rig companies would help to boost a recovery in the drilling market, Seadrill CEO says.

Seadrill Emerges From Chapter 11 Bankruptcy
Monday, July 02, 2018Seadrill says it successfully completed its reorganization, emerging from a US Chapter 11 bankruptcy process launched last September.

Seadrill Gets US Court Approval For Bankruptcy Exit Plan
Tuesday, April 17, 2018A US judge saya he would approve Seadrill's plan to exit its Chapter 11 bankruptcy.

Seadrill Postpones Court Hearing For Restructuring Talks
Thursday, January 25, 2018Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 7.

Norway's Seadrill Gets Two Rival Debt Restructuring Proposals
Monday, October 23, 2017Seadrill receives two additional non-binding proposals from bondholders for a debt restructuring.

Seadrill's Debt Overhaul Faces Creditor Scrutiny
Monday, October 02, 2017Seadrill'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, 2017Seadrill 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, 2017Seadrill 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, 2017Seadrill 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, 2017Seadrill fell 38% after warning its shareholders and bond investors they can expect steep losses.

Billionaire Fredriksen Buys Rig, Ends Hyundai Dispute
Monday, March 13, 2017Billionaire 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, 2017The 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, 2017Seadrill 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, 2016Seadrill says it signed a three-year contract extension with Saudi Aramco.

Rig Firm Seadrill Postpones Deadline On $9 Billion Debt Restructuring
Wednesday, November 16, 2016Oil 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, 2016Seadrill 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, 2016Seadrill 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, 2016North 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, 2016The 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, 2016Seadrill 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, 2016Seadrill 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, 2016Offshore 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, 2016Seadrill, 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, 2016Seadrill 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, 2016Shares 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, 2016Sapura 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, 2016Seadrill 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, 2016Offshore 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, 2015Norwegian-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, 2015Following 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, 2015The 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, 2015Seadrill 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, 2015Husky 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, 2015Seadrill 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, 2015A 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, 2015Seadrill 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, 2015Asia 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, 2015The 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, 2015Wage 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, 2015Seadrill subsidiary North Atlantic Drilling delays closing a cooperation deal with Rosneft amid western sanctions against Russia.