Market info

Seadrill shares surge on loan promise


Seadrill Ltd.’s billionaire chairman and largest shareholder, John Fredriksen, is willing to lend the rig company as much as $1.2 billion as part of a potential deal with banks and bondholders to restructure the biggest debt load in the offshore-drilling industry, two people familiar with the matter said.

Oil & Gas

Seadrill pens £170m rig contract extension with Saudi Aramco


A London-headquartered offshore drilling contractor has agreed to rent out two of its rigs to a customer in the Middle East for another three years in a deal worth $225million (£170million). Saudi Aramco has been leasing Seadrill’s AOD I and AOD II jack-up rigs since 2013. In line with the new agreement, Saudi Aramco will keep hold of the platforms until summer 2019.


Seadrill appoints new VP


Seadrill has appointed Anton Dibowitz as executive vice president, adding to his ongoing role as chief commercial officer and freeing chief executive Per Wullf to focus on a refinancing process.

Market info

Seadrill stock rises on speculation of bailout


Offshore drilling firm Seadrill rose the most in more than seven years as investors covered short bets after the company’s main owner, billionaire John Fredriksen, freed up $510 million in cash, fueling speculation of a bailout.