Seadrill Ltd

Seadrill Ltd. provides offshore drilling services. It owns and operates drillships, semi-submersibles and jack-ups. Its operating business segments include: Harsh Environment Rigs, Floaters and Jack-Up Rigs. The Harsh Environment Rigs segment operates both semi-submersibles and jack-ups that have a number of design modifications to be able to handle to weather conditions. The Floaters segment encompasses its drillships and benign environment semi-submersible rigs. The Jack-Up Rigs segment operates mobile, self-elevating drilling platforms equipped with legs that are lowered to the seabed. Seadrill was founded on May 10, 2005 and is headquartered in Hamilton, Bermuda.

Earnings data Q4 2019

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Seadrill reports robust Q1 earnings, navigates market challenges strategically

Seadrill's Q1 2024 performance reflects a strong start with revenue and EBITDA growth. The company's focus on fleet integration, contract securing, and share repurchases align with market opportunities and challenges.

Seadrill adjusts full-year guidance amidst contracting challenges and market confidence

Seadrill navigates challenges in the contracting environment by focusing on operational performance and maintaining a strong balance sheet. Revised full-year EBITDA guidance reflects updated contract start date expectations and softer rig contracting outlook.

Seadrill exceeds Q3 expectations, navigates market challenges for growth

Seadrill's Q3 2024 earnings call showcased strong financial performance, operational efficiency, and strategic initiatives. Despite market challenges, the company is well-positioned to capitalize on growth opportunities. Continued focus on cost management and operational optimization will drive future success.

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Seadrill Ltd. engages in the provision of offshore drilling services. It owns and operates drillships, semi-submersibles and jack-ups. It operates through the following segments: Harsh Environment, Floaters, and Jack-Up Rigs. The Harsh Environment segment operates both semi-submersibles and jack-ups that have a number of design modifications to be able to handle harsh weather conditions. The Floaters segment encompasses its drillships and benign environment semi-submersible rigs. The Jack-Up Rigs segment operates mobile, self-elevating drilling platforms equipped with legs that are lowered to the seabed. The company was founded on May 10, 2005 and is headquartered in Hamilton, Bermuda.

Seadrill Limited (NYSE:SDRL ) Q2 2023 Results Conference Call August 15, 2023 9:00 AM ET Company Participants Lydia Mabry - Director, IR Simon Johnson - President and CEO Grant Creed - EVP and CFO Samir Ali - EVP and Chief Commercial Officer Leif Nelson - Chief Operating and Technology Officer Conference Call Participants Greg Lewis - BTIG Ben Nolan - Stifel Fredrik Stene - Clarkson Securities David Smith - Pickering Energy Partners Eddie Kim - Barclays Hamed Khorsand - BWS Financial Lydia Mabry Welcome to Seadrill's Second Quarter 2023 Earnings Call. With me today are Simon Johnson, our President and Chief Executive Officer; Grant Creed, Executive Vice President and Chief Financial Officer; and Samir Ali, Executive Vice President and Chief Commercial Officer.

Seadrill Limited (SDRL) Q2 2023 Earnings Call Transcript

Seadrill Ltd (NYSE:SDRL) stock is set to start Tuesday's session on the front foot after the oil and gas contractor boasted strong quarterly results. The company, which in 2022 went through its second Chapter 11 bankruptcy process in two years, today told investors it had generated US$414 million of second quarter revenue and earnings (adjusted EBITDA) was reported at US$159mln.

Seadrill stock on the rise after strong quarter

Delivered $159 million of Adjusted EBITDA(1) on $414 million of revenue, resulting in an Adjusted EBITDA Margin(1) of 38.4%, and net income of $94 million, or $1.16 per diluted share Closed Aquadrill transaction on April 3, increasing contracted floater count for the quarter by four to 12 After the quarter, successfully issued $575 million of 8.375% senior secured second lien notes due 2030 and executed a new $225 million revolving credit facility with an accordion feature of up to $100 million On July 28, completed the sale of three tender-assist units for approximately $85 million, as the Company focuses on deepwater Initiated shareholder return program with share repurchase authorization of up to $250 million HAMILTON, Bermuda , Aug. 15, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) today reported strong second quarter 2023 results, which reflect a full quarter's contribution from contracted rigs acquired as part of the Aquadrill transaction, completed on April 3, 2023. Seadrill now owns 12 benign deepwater floaters, beyond the two it manages as part of a 50:50 joint venture with Sonangol; three harsh-environment rigs; and four jackups, three of which it plans to sell consistent with ongoing fleet refinement.

Seadrill Announces Second Quarter 2023 Results and $250 Million Share Repurchase Authorization

Shareholders and creditors alike will watch keenly the outlook for oil and gas contractor Seadrill Ltd (NYSE:SDRL) as it reports on its second quarter on Tuesday. Having exited its latest Chapter 11 bankruptcy process in November 2022, for the second time in two years, the rig-and-crew service provider last week refinanced with a ne US$500mln loan (carrying 8.375% interest and maturity in 2030) along with US$225 million in revolving credit and a US$100 million accordion.

Has Seadrill overcome stormy financial waters, rig activity a focus ahead of quarterly results

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HAMILTON, Bermuda , July 27, 2023 /PRNewswire/ -- On July 27, 2023, Seadrill Limited (the "Company") (NYSE & OSE: SDRL) and its wholly owned subsidiary, Seadrill Finance Limited ("Seadrill Finance" or the "Issuer"), announced that Seadrill Finance has issued $500 million in aggregate principal amount of 8.375% Senior Secured Second Lien Notes due 2030 (the "Notes") in an offering (the "Offering") conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The net proceeds from the Offering will be used to: (i) prepay in full the outstanding amounts under its existing secured debt facilities and (ii) pay fees associated with exiting such secured debt facilities.

Seadrill Limited (SDRL) Announces Closing of $500 Million Senior Secured Second Lien Notes and Concurrent Availability of New Revolving Credit Facility

HAMILTON, Bermuda , July 25, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) and its wholly owned subsidiary, Seadrill Finance Limited ("Seadrill Finance"), announced today the pricing of their offering under Rule 144A and Regulation S (the "Offering") of the Securities Act of 1933, as amended (the "Securities Act"), of an additional $75 million in aggregate principal amount of 8.375% Senior Secured Second Lien Notes due 2030 (the "Incremental Notes"). The Offering of the Incremental Notes is conditioned on the closing of the offering of the Original Notes (as defined below).

Seadrill Limited (SDRL) Announces Pricing of Additional $75 Million 144A / Reg S Offering of 8.375% Senior Secured Second Lien Notes Due 2030

HAMILTON, Bermuda , July 25, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) announced today that, subject to market conditions, it intends to offer (the "Offering") for sale to eligible purchasers in an offering under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), an additional $75 million in aggregate principal amount 8.375% Senior Secured Second Lien Notes due 2030 (the "Incremental Notes") to be issued by Seadrill Finance Limited, an exempted company limited by shares incorporated under the laws of Bermuda and a wholly owned subsidiary of Seadrill ("Seadrill Finance"). The Offering of the Incremental Notes is conditioned on the closing of the offering of the Original Notes (as defined below).

Seadrill Limited (SDRL) Announces Offering of Additional $75 Million 8.375% Senior Secured Second Lien Notes Due 2030

HAMILTON, Bermuda , July 20, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) will report earnings for the second quarter of 2023 on Tuesday, August 15, 2023. The Company will host a call to discuss its results that day at 09:00 EST / 14:00 BST / 15:00 CET.

Seadrill Limited Announces Second Quarter 2023 Earnings Release Date

HAMILTON, Bermuda , July 13, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) and its wholly owned subsidiary, Seadrill Finance Limited ("Seadrill Finance"), announced today the pricing of their offering under Rule 144A and Regulation S (the "Offering") of the Securities Act of 1933, as amended (the "Securities Act"), of $500 million in aggregate principal amount of 8.375% Senior Secured Second Lien Notes due 2030 (the "Notes"). The Offering was upsized to $500 million in aggregate principal amount of Notes from the original offering size of $450 million in aggregate principal amount of Notes.

Seadrill Limited (SDRL) Announces Pricing of $500 Million Upsized 144A / Reg S Offering of 8.375% Senior Secured Second Lien Notes Due 2030

Seadrill, an offshore drilling contractor, is an attractive investment opportunity due to its compelling valuation and potential catalysts. We are in the beginning of a multi-year industry upcycle. Our investment case however relies on mark-to-market day rates, not pricing in further increases. At a very conservative multiple, Seadrill offers 20% upside. We recommend building a long position on Seadrill shares.

Seadrill: Appealing Valuation And Multiple Potential Catalysts

Fintel reports that Elliott Investment Management has filed a 13D/A form with the SEC disclosing ownership of 7.06MM shares of Seadrill Ltd.

Elliott Investment Management Now Owns 8.80% of Seadrill (SDRL)

HAMILTON, Bermuda , July 11, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) provides further information regarding the Revolving Credit Facility (as defined herein) and certain other information being delivered to potential investors in connection with the offering of the Notes (as defined herein). Revolving Credit Agreement On July 11, 2023, Seadrill and its wholly owned subsidiary Seadrill Finance Limited ("Seadrill Finance"), an exempted company limited by shares incorporated under the laws of Bermuda, entered into the Senior Secured Revolving Credit Agreement (the "New Credit Agreement") with certain lenders and issuing banks party thereto, J.P.

Seadrill Limited (SDRL) Provides Further Information Regarding New Revolving Credit Facility and Certain Other Information Regarding Offering of Senior Secured Second Lien Notes

HAMILTON, Bermuda , July 11, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) announced today that, subject to market conditions, it intends to offer (the "Offering") for sale to eligible purchasers in an offering under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), $450 million in aggregate principal amount of senior secured second lien notes (the "Notes") to be issued by Seadrill Finance Limited, an exempted company limited by shares incorporated under the laws of Bermuda and a wholly owned subsidiary of Seadrill ("Seadrill Finance"). The net proceeds from the Offering will be used to: (i) prepay in full the outstanding amounts under its existing secured debt facilities and (ii) pay fees associated with exiting such secured debt facilities.

Seadrill Limited (SDRL) Announces Offering of $450 Million Senior Secured Second Lien Notes and Concurrent Entry into New Revolving Credit Facility

The sale allows Seadrill (SDRL) to unlock value, generate substantial cash proceeds and concentrate on high-grading its portfolio.

Seadrill (SDRL) to Get $85M by Selling 3 Tender-Assist Rigs

HAMILTON, Bermuda , June 26, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) today announces that it is in active discussions to sell (i) the jack-up rigs known as the West Castor, West Telesto and West Tucana (the "Qatar Jack-Up Fleet"), which are bareboat chartered by Seadrill to Gulfdrill LLC ("Gulfdrill"), a 50:50 joint venture between Seadrill and Gulf Drilling International, and (ii) Seadrill's 50% equity interest in Gulfdrill. Seadrill has not reached agreement yet on material terms, including price, with any potential purchaser.

Seadrill Limited (SDRL) Announces Potential Sale of Qatar Jack-Up Fleet

HAMILTON, Bermuda , June 26, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL) has posted an investor presentation to its website, www.seadrill.com/investors. The presentation is also attached hereto.

Seadrill Limited (SDRL) Investor Presentation

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HAMILTON, Bermuda , June 21, 2023 /PRNewswire/ -- Seadrill Limited ('Seadrill' or the 'Company') (NYSE: SDRL) & (OSE: SDRL) today announces that it has filed the attached Form 6-K report with the U.S. Securities and Exchange Commission (the "SEC") in connection with the release of the Aquadrill LLC ("Aquadrill") unaudited financial statements for the three months ended March 31, 2023 and 2022, and the Company's unaudited pro forma financial statements for the three months ended March 31, 2023 and 2022. The Form 6-K can be accessed on the website of the SEC (www.sec.gov) and is also available on the Company's website (www.seadrill.com/investors).

Seadrill Limited (SRDL) - Filing of Form 6-K report with unaudited financial statements for Aquadrill and unaudited pro forma financial information for Seadrill

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Seadrill Limited (NYSE:SDRL ) Q1 2023 Earnings Conference Call May 23, 2023 9:00 AM ET Company Participants Simon Johnson - President and CEO Grant Creed - EVP and CFO Samir Ali - EVP and Chief Commercial Officer Conference Call Participants Greg Lewis - BTIG Fredrik Stene - Clarksons Securities Hamed Khorsand - BWS Financial Konstantin Chinarov - Aptior Capital LLP Simon Johnson Welcome all to our Second Quarterly Earnings Call this calendar year and the first call of the 2023 Financial Period. On the line today, Grant and I are joined by Leif Nelson, our Chief Operating and Technology Officer; and Samir Ali, our Chief Commercial Officer.

Seadrill Limited (SDRL) Q1 2023 Earnings Call Transcript

HAMILTON, Bermuda , May 23, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE: SDRL) (OSE: SDRL), a leader in offshore drilling, provides financial results for the three months ended March 31, 2023. Q1 2023 Highlights Seadrill added approximately $39 million of Order Backlog[1] during the quarter, bringing the total as of March 31, 2023, to approximately $2.2 billion.

Seadrill Limited (SDRL) - First Quarter 2023

HAMILTON, Bermuda, May 11, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE & OSE: SDRL) announces that its 1Q23 earnings will be published on Tuesday, May 23, 2023.

Seadrill Limited (SDRL) Provides Notice of 1Q23 Earnings Release and Presentation

HAMILTON, Bermuda , April 21, 2023 /PRNewswire/ -- Reference is made to the announcement made by Seadrill Limited (NYSE & OSE: SDRL) ("Seadrill" or the "Company") on August 8, 2022, regarding the management incentive plan (the "Plan") for certain members of the Company's management and other leading employees, as well as non-employee directors. An award has been made under the Plan to primary insider Todd Strickler (SVP & General Counsel), as further described in the attached form.

News for Seadrill Ltd Stock (SDRL)