Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Seadrill pulls back from previous heavy losses

Seadrill news
Seadrill news

Offshore drilling firm Seadrill’s financial results for the first six months of 2018 has seen the firm pull back from the heavy losses at the end of last year.

The firm has reported £469 million in operating losses, an improvement on £628 million within its 2017 end of year results

Seadrill reported huge net losses of more than £2 billion in its 2017 end of year results.

Seadrill, who last year unanimously voted through a reorganisation strategy, reported net losses of more than £2.6 billion.

The firm claimed that the lion’s share of losses can be attributed to the reorganisation and its investments in its Seadrill Partners and SeaMex divisions.

The firm has attributed much of its losses to the downturn in the offshore drilling market and aging units.

Seadrill said in a statement: “As at June 30, 2018, we determined that the continuing downturn in the offshore drilling market was an indicator of impairment on certain assets and we have recognized an impairment of $414 million (£316.8m) on three of our oldest units. Of this amount, $340 million (£260.5m) relates to our Floaters segment and $74 million relates to our Jack-ups segment.

Recommended for you


More from Energy Voice

Latest Posts