Seadrill
Seadrill News
Seadrill Awarded Contract Extension in Angola
Seadrill has announced that Sonadrill Holding, its 50:50 joint venture with an affiliate of Sonangol E.P., has been awarded a contract extension.A seven-well priced option for the ultra-deepwater drillship Sonangol Quenguela has been exercised, extending operations in Angola by approximately 480 days and committing the rig into June 2028.Seadrill earns a management fee for providing management, operational and technical support to Sonadrill.
Seadrill Appoints New CEO
Offshore drilling contractor Seadrill has appointed Samir Ali as its new chief executive officer (CEO).Effective immediately, Samir Ali will step up from its Executive Vice President, Chief Commercial Officer (CCO) position to its new role, succeeding Simon Johnson.Ali has served as Executive Vice President, Chief Commercial Officer of the company since August 2022. Prior to joining Seadrill, Ali was with Diamond Offshore…
Kongsberg Maritime, Seadrill, Hanwha Drilling to Develop Remote Dynamic Positioning Technology
Seadrill Limited, an offshore drilling contractor, Kongsberg Maritime AS, a global technology leader, and Hanwha Drilling, a provider of offshore drilling services, announced a strategic alliance to develop the next generation of remote Dynamic Positioning (DP) technology in offshore drilling.This collaboration represents a shared commitment to defining a global operating model for the future of DP operations for the industry.
Seadrill Awarded Contract in the U.S. Gulf and Angola
Seadrill Limited has been awarded contracts for the West Neptune, Sevan Louisiana, and Sonangol Quenguela.In the U.S. Gulf, the West Neptune was awarded a contract with LLOG Exploration. The four-month program is expected to commence in direct continuation to the current contract, adding approximately $48 million to backlog.Also in the U.S. Gulf, the Sevan Louisiana received an award from an undisclosed…
Offshore Driller Seadrill Has Its Sights Set on Asset Acquisitions, M&A
Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap, to its creditors over two debt restructurings since 2014.Now a much leaner and smaller company, New York-listed Seadrill itself is looking to buy distressed assets or players with "distressed balance sheets"…
Buyers Reportedly Line-up for a Crack at Seadrill
Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday.Seadrill is trying to emerge from its second U.S. Chapter 11 bankruptcy in four years: like many in the industry, it expanded its drilling…
Equinor Contracts Seadrill Drillship West Saturn
Offshore drilling contractor Seadrill said it has secured a four-year firm contract with four one year options for the West Saturn drillship with Equinor Brasil Energia Ltda for work on the Bacalhau field in Brazil.Total value for the firm portion of the contract, including mobilization, upgrades and integrated services, is expected to be approximately $380 million, with a performance bonus providing meaningful incremental opportunity, Seadrill said.
Seadrill Contract Backlog Reaches $1.9bln
The deepwater drilling contractor Seadrill said that its contract backlog, as of May 23, 2019, totaled approximately $1.9 billion.The drilling services provider…
Activists End Occupation of Arctic Drill Rig
Greenpeace activists climbed down from a Seadrill drilling rig in Norway on Tuesday and are no longer occupying it, the environmental group told Reuters.The rig, which was boarded by four activists on Monday, will be used next month by Equinor to explore for oil and gas in the Arctic.(Reporting by Gwladys Fouche, Writing by Terje Solsvik, Editing by Paul Tait)
Sonangol Drillship Delivered
Angola state oil company Sonangol has taken delivery of Libongos, the first of two new drillships built by Korean shipyard Daewoo Shipbuilding Marine Engineering (DSME).The new seventh-generation drillship, christened March 21 in Busan, is capable of operating in deep, ultra-deep and pre-salt waters and will be available to carry out national and international work, Sonangol said.Sonangol president Carlos Saturnino…
Seadrill Gets ABS-Managed Pressure Drilling Notation
ABS has announced it has issued the managed pressure drilling notation ABS MPD to Seadrill for the ABS-classed West Capricorn, a 6th generation ultra-deep water…
US Court Approves Seadrill's Bankruptcy Exit Plan
A U.S. judge said on Tuesday he would approve Seadrill Ltd's plan to exit its Chapter 11 bankruptcy, in which the global offshore oil and gas drilling company would shed billions of dollars of debt and raise $1 billion in new investment. U.S. Bankruptcy Judge David Jones in Houston overruled two minor objections to the reorganization plan during a 90-minute hearing. The plan extends maturities on more…
Seadrill Rises as Creditors Reach Joint Restructuring Deal
U.S.-listed shares of oil rig firm Seadrill are up 10 percent at 28 cents in early trade. Seadrill, controlled by John Fredriksen, has reached an agreement with a majority of creditors over a restructuring plan according to U.S. court documents. Under an amended plan, the company will raise $1.08 billion in new capital via the issuance of new secured notes and equity. The company filed for Chapter…
Seadrill Nears Comprehensive Restructuring Deal
Rig firm Seadrill, which last year filed for bankruptcy protection in a U.S. court, is working towards a comprehensive deal with all its creditors that could be concluded this week, it said in a court filing late on Friday. Once the largest drilling rig operator by market value, Oslo-listed Seadrill filed its bankruptcy case in Texas on Sept. 12 after being hit hard by cutbacks in oil company investment following a steep drop in crude prices.
Seadrill Postpones Court Hearing for Restructuring Talks
Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 7, which sources told Reuters will give the company more time to consider alternative restructuring plans. Once the largest drilling rig operator by market value, Seadrill filed for bankruptcy protection in Texas on Sept. 12 after being hit hard by cutbacks in oil company investment following a steep drop in crude prices.
Seadrill Bondholders Post Cash Deposit for Rival Restructuring
Owners of unsecured bonds in rig firm Seadrill have posted a cash deposit to back an alternative financial restructuring, paving the way for talks with the drilling operator over its future, the two sides said on Monday. Seadrill, once the largest drilling rig operator by market value, filed for bankruptcy protection in a U.S. court on Sept. 12 after being hit hard by cutbacks in oil company investment following a steep drop in crude prices.
Seadrill Receiving Rival Bids for Debt Restructuring
Drilling rig firm Seadrill confirmed on Wednesday it had received two rival bids for its debt restructuring from unsecured bondholders. The company, which filed for Chapter 11 restructuring in a U.S. court on Sept. 12, has sought alternative proposals for the plan put forward by its main owner, Norwegian-born billionaire John Fredriksen and a group of hedge funds. "We have received two alternative bids from unsecured bondholders ...
Seadrill Bondholders Propose Alternative Debt Restructuring
An unofficial committee of Seadrill's unsecured bondholders has submitted a binding alternative proposal for the company's restructuring, two sources familiar with the proposal told Reuters on Tuesday. Norwegian-born billionaire John Fredriksen and a group of hedge funds proposed on Sept. 12 to invest $1.06 billion via new equity and secured debt to restructure indebted Seadrill, once the largest drilling rig operator by market value.
Seadrill Files Chapter 11 Bankruptcy Protection
Seadrill Limited, one of the world’s largest offshore drilling companies, has filed for Chapter 11 bankruptcy protection at the Southern District Texas court, Reuters reported.
Seadrill to Seek Bankruptcy Protection
Once the biggest offshore rig firm by market value, Seadrill plans to begin its Chapter 11 debt restructuring in the coming weeks, WSJ reported. The Bermuda-based company…
