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.
Thailand-based offshore drilling firm Mermaid Maritime has appointed a new regional director.
Seadrill’s chief executive said the firm benefited from an uptake in short-term work as it continues to battle a challenging marketplace.
Drilling contractor Seadrill is “reviewing its legal options” in a dispute with Mexican state-owned company Pemex over a rig contract cancellation.
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 has confirmed the issuance of new shares of its common stock.
Seadrill Ltd., the offshore driller seeking to cut its debt load, agreed to swap bonds for equity in the second such deal in less than a month.
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.
Offshore oil drillers operating in Norway warn that a possible strike over wages could deepen the worst market downturn in a generation.
Seadrill today said it achieved "record operational uptime" in the first quarter of the year.
Statoil has cancelled its contract with Seadrill for the West Hercules drilling rig.
Seadrill today confirmed it had agreed a deal with senior note holders worth $55million.
Seadrill Ltd., the offshore driller with the biggest debtload, reached a deal with its banks to extend its three nearest credit lines and amend covenants as it seeks to ease its burden amid a drop in the demand for offshore rigs.
Seadrill has sold its remaining stake of approximately 490 million shares in Malaysia's SapuraKencana in a $195 million deal.
Seadrill said it plans to make more than 100 redundancies from its Houston office.
Seadrill has hired debt advisors to help negotiations on an $11 restructuring plan, according to reports.
Seadrill has been awarded an 18 month contract extension for the drillship West Tellus by Petrobras after cutting its day rate.
Seadrill Ltd., the offshore driller struggling with the industry’s biggest debt load, surged by a record for a second straight day as investors covered short bets amid speculation of a lifeline from the company’s biggest shareholder, billionaire John Fredriksen.
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.
Seadrill Ltd. is accepting lower and lower rates for its offshore drilling rigs to survive the worst slump since the 1980s as it deploys a plan to address the heaviest debt-load in the industry.
Seadrill has reported revenue of $959million in its fourth quarter results for 2015.
When the price of a 10-pound (4.5-kilogram) Atlantic salmon jumped above the cost of a barrel of crude last month, nobody in the oil industry was celebrating.
Seadrill Ltd., the offshore driller battered by the collapse in crude prices, is approaching a “debt wall” that may force it to sell new shares and renegotiate terms with bond investors and banks by the end of the year, according to Nordea Bank AB.
Seadrill said had has reached an agreement with the DSME shipyard to defer the delivery of two ultra-deepwater drillships.
Seadrill have secured one year contract extensions for a pair of rigs with Chevron Thailand Exploration and Production. The company said the deal means both contracts will now end in July and August of 2019.